Oscar Health (NYSE:OSCR) Rating Lowered to Underweight at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Oscar Health (NYSE:OSCR - Free Report) from an equal weight rating to an underweight rating in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has $10.00 price objective on the stock, down from their prior price objective of $16.00.

Several other research analysts have also issued reports on the company. Raymond James Financial lowered Oscar Health from an "outperform" rating to a "market perform" rating in a research note on Tuesday, June 24th. Wall Street Zen lowered Oscar Health from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. Barclays started coverage on Oscar Health in a research note on Wednesday, July 2nd. They issued an "underweight" rating and a $17.00 target price for the company. Finally, Piper Sandler lowered their target price on Oscar Health from $25.00 to $18.00 and set an "overweight" rating for the company in a research note on Monday, June 9th. Four research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Oscar Health currently has a consensus rating of "Hold" and an average price target of $15.58.

Oscar Health Stock Performance

Shares of NYSE OSCR traded down $1.13 during trading hours on Friday, reaching $14.40. The stock had a trading volume of 56,391,991 shares, compared to its average volume of 6,997,072. The business's fifty day moving average is $16.30 and its two-hundred day moving average is $14.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 51.43 and a beta of 1.90. Oscar Health has a twelve month low of $11.20 and a twelve month high of $23.79.

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

Insider Transactions at Oscar Health

In related news, Director Elbert O. Jr. Robinson sold 25,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $16.43, for a total value of $410,750.00. Following the transaction, the director owned 64,512 shares in the company, valued at $1,059,932.16. This trade represents a 27.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 24.39% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Oscar Health

Hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp boosted its holdings in Oscar Health by 7,473.3% in the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock valued at $30,000 after acquiring an additional 2,242 shares during the last quarter. Strs Ohio bought a new position in Oscar Health in the first quarter valued at about $30,000. Larson Financial Group LLC boosted its holdings in Oscar Health by 83,733.3% during the first quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock worth $33,000 after buying an additional 2,512 shares during the last quarter. CWM LLC boosted its holdings in Oscar Health by 50.7% during the first quarter. CWM LLC now owns 3,204 shares of the company's stock worth $42,000 after buying an additional 1,078 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Oscar Health by 484.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,443 shares of the company's stock worth $45,000 after buying an additional 2,854 shares during the last quarter. Institutional investors own 75.70% of the company's stock.

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.