Oscar Health (NYSE:OSCR) Downgraded by Raymond James Financial to Market Perform

Raymond James Financial lowered shares of Oscar Health (NYSE:OSCR - Free Report) from an outperform rating to a market perform rating in a report released on Tuesday, Marketbeat Ratings reports.

Several other brokerages also recently weighed in on OSCR. Piper Sandler decreased their price target on Oscar Health from $25.00 to $18.00 and set an "overweight" rating for the company in a report on Monday, June 9th. Wells Fargo & Company lowered shares of Oscar Health from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $20.00 to $16.00 in a research note on Thursday, March 13th. Finally, Wall Street Zen downgraded shares of Oscar Health from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $16.50.

Oscar Health Stock Performance

Shares of NYSE:OSCR traded down $0.49 on Tuesday, reaching $19.94. The company's stock had a trading volume of 26,561,211 shares, compared to its average volume of 7,795,327. Oscar Health has a 52-week low of $11.20 and a 52-week high of $23.79. The stock has a market capitalization of $5.08 billion, a P/E ratio of 71.20 and a beta of 1.73. The stock's 50-day moving average is $14.75 and its two-hundred day moving average is $14.51. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.88 and a quick ratio of 0.88.

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

Insider Activity

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of the company's stock in a transaction 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 now owns 64,512 shares of the company's stock, valued at approximately $1,059,932.16. This represents a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 24.39% of the company's stock.

Institutional Investors Weigh In On Oscar Health

Several institutional investors and hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC lifted its stake in Oscar Health by 2.7% in the 1st quarter. Hsbc Holdings PLC now owns 24,113 shares of the company's stock valued at $313,000 after buying an additional 632 shares in the last quarter. Tempus Wealth Planning LLC raised its holdings in shares of Oscar Health by 6.7% in the first quarter. Tempus Wealth Planning LLC now owns 14,392 shares of the company's stock worth $189,000 after acquiring an additional 906 shares during the last quarter. Focus Partners Wealth lifted 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 acquiring an additional 949 shares in the last quarter. Xponance Inc. boosted its stake in shares of 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 last quarter. Finally, CWM LLC boosted its stake in shares of Oscar Health by 50.7% during the first quarter. CWM LLC now owns 3,204 shares of the company's stock valued at $42,000 after acquiring an additional 1,078 shares during the last quarter. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

About Oscar Health

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.