Oscar Health (NYSE:OSCR) Downgraded by Wells Fargo & Company to Underweight

Wells Fargo & Company downgraded shares of Oscar Health (NYSE:OSCR - Free Report) from an equal weight rating to an underweight rating in a research report released on Friday morning, MarketBeat reports. They currently have $10.00 price objective on the stock, down from their prior price objective of $16.00.

Other analysts also recently issued reports about the company. Barclays assumed coverage on Oscar Health in a report on Wednesday, July 2nd. They set an "underweight" rating and a $17.00 price target for the company. Piper Sandler cut their price objective on shares of Oscar Health from $25.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Raymond James Financial cut shares of Oscar Health from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. Finally, Wall Street Zen cut shares of Oscar Health from a "buy" rating to a "hold" rating in a research report on Sunday, June 8th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.92.

Oscar Health Price Performance

Shares of NYSE:OSCR traded up $0.79 during trading on Friday, hitting $15.17. 31,945,244 shares of the company were exchanged, compared to its average volume of 7,118,557. The business's 50 day moving average is $16.35 and its 200-day moving average is $14.90. The company has a market capitalization of $3.86 billion, a P/E ratio of 54.17 and a beta of 1.90. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.22. Oscar Health has a 1-year low of $11.20 and a 1-year high of $23.79.

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

Insiders Place Their Bets

In other Oscar Health news, Director Elbert O. Jr. Robinson sold 25,000 shares of Oscar Health stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $16.43, for a total transaction of $410,750.00. Following the transaction, the director owned 64,512 shares of the company's stock, valued at $1,059,932.16. This trade represents a 27.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 25.11% of the company's stock.

Hedge Funds Weigh In On Oscar Health

Several hedge funds have recently modified their holdings of OSCR. Jones Financial Companies Lllp lifted its position in shares of Oscar Health by 7,473.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after buying an additional 2,242 shares in the last quarter. Strs Ohio purchased a new stake in shares of Oscar Health during the 1st quarter worth approximately $30,000. Larson Financial Group LLC increased its stake in shares of Oscar Health by 83,733.3% during the 1st quarter. Larson Financial Group LLC now owns 2,515 shares of the company's stock worth $33,000 after purchasing an additional 2,512 shares during the last quarter. CWM LLC increased its stake in shares of Oscar Health by 50.7% during the 1st quarter. CWM LLC now owns 3,204 shares of the company's stock worth $42,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of Oscar Health by 484.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,443 shares of the company's stock worth $45,000 after purchasing an additional 2,854 shares during the last quarter. Institutional investors own 75.70% of the company's stock.

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.