Oscar Health (NYSE:OSCR) Downgraded to Hold Rating by Baird R W

Key Points

• Oscar Health has been downgraded from a "strong-buy" rating to a "hold" rating by Baird R W, indicating a shift in analysts' sentiment towards the stock.
• Several analysts, including Wells Fargo and Barclays, have also reduced their target prices for Oscar Health, reflecting a generally bearish outlook with a consensus rating of "Hold" and an average target price of $12.21.
• Despite the downgrades, Oscar Health reported better-than-expected earnings, with a quarterly revenue increase of 42.2% compared to last year, showcasing strong operational performance.

Baird R W lowered shares of Oscar Health (NYSE:OSCR - Free Report) from a strong-buy rating to a hold rating in a research note issued to investors on Friday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Raymond James Financial cut Oscar Health from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. UBS Group reaffirmed a "sell" rating and issued a $11.00 price objective (down previously from $15.00) on shares of Oscar Health in a research note on Tuesday, July 15th. Wall Street Zen downgraded Oscar Health from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. Robert W. Baird restated a "neutral" rating and set a $14.00 price objective (down previously from $28.00) on shares of Oscar Health in a report on Friday. Finally, Wells Fargo & Company cut Oscar Health from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $16.00 to $10.00 in a research note on Friday, July 11th. Five investment analysts have rated the stock with a sell rating and five have given a hold rating to the company's stock. Based on data from MarketBeat, Oscar Health currently has an average rating of "Hold" and an average price target of $12.21.

Oscar Health Trading Up 1.8%

Shares of NYSE:OSCR traded up $0.26 during trading on Friday, reaching $14.71. 23,061,465 shares of the company traded hands, compared to its average volume of 40,123,980. The firm has a market capitalization of $3.75 billion, a price-to-earnings ratio of 51.61 and a beta of 1.90. Oscar Health has a 52-week low of $11.20 and a 52-week high of $23.79. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22. The business's fifty day moving average is $15.99 and its 200-day moving average is $14.92.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.09. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.87 billion. Oscar Health had a return on equity of 10.59% and a net margin of 1.22%. The firm's quarterly revenue was up 42.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. As a group, analysts forecast that Oscar Health will post 0.69 EPS for the current year.

Insider Buying and Selling

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $16.43, for a total value of $410,750.00. Following the sale, the director directly owned 64,512 shares of the company's stock, valued at approximately $1,059,932.16. This trade represents a 27.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.11% of the stock is currently owned by company insiders.

Institutional Trading of Oscar Health

A number of institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC increased its holdings in Oscar Health by 2.7% during the 1st quarter. Hsbc Holdings PLC now owns 24,113 shares of the company's stock worth $313,000 after purchasing an additional 632 shares during the period. Tempus Wealth Planning LLC increased its position in Oscar Health by 6.7% during the first quarter. Tempus Wealth Planning LLC now owns 14,392 shares of the company's stock worth $189,000 after buying an additional 906 shares in the last quarter. Focus Partners Wealth grew its position in shares of Oscar Health by 1.8% in the first quarter. Focus Partners Wealth now owns 55,158 shares of the company's stock valued at $723,000 after purchasing an additional 949 shares during the period. LRI Investments LLC grew its position in shares of Oscar Health by 377.9% in the second quarter. LRI Investments LLC now owns 1,233 shares of the company's stock valued at $26,000 after purchasing an additional 975 shares during the period. Finally, Xponance Inc. grew its position in Oscar Health by 7.1% during the first quarter. Xponance Inc. now owns 15,423 shares of the company's stock valued at $202,000 after acquiring an additional 1,029 shares during the period. 75.70% of the stock is owned by institutional investors and hedge funds.

Oscar Health Company Profile

Oscar Health, Inc operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products.