Oscar Health (NYSE:OSCR) Raised to Hold at Wells Fargo & Company

Key Points

• Wells Fargo upgraded Oscar Health from "strong sell" to "hold", and the broader analyst view now stands at a consensus Hold with an average target price of $20.22.
• Oscar Health reported Q1 earnings of $2.07 per share, beating expectations, while revenue came in at $4.65 billion, below estimates but still up 52.6% year over year.
• Shares opened at $23.54, near the stock’s 52-week high of $25.58; meanwhile, insiders have recently sold shares, including the CFO and another executive under pre-arranged trading plans.

Oscar Health (NYSE:OSCR - Get Free Report) was upgraded by investment analysts at Wells Fargo & Company from a "strong sell" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Several other equities analysts have also recently issued reports on OSCR. Zacks Research raised shares of Oscar Health from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 7th. UBS Group boosted their price objective on shares of Oscar Health from $15.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Barclays boosted their price objective on shares of Oscar Health from $21.00 to $30.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 26th. Weiss Ratings reissued a "sell (d)" rating on shares of Oscar Health in a research note on Tuesday, April 21st. Finally, Robert W. Baird boosted their price objective on shares of Oscar Health from $15.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Oscar Health has a consensus rating of "Hold" and an average target price of $20.22.

Oscar Health Stock Performance

Shares of Oscar Health stock opened at $23.54 on Thursday. The firm's fifty day simple moving average is $18.15 and its 200-day simple moving average is $16.00. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of -39.90, a PEG ratio of 1.43 and a beta of 2.37. Oscar Health has a 12 month low of $10.69 and a 12 month high of $25.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.96. The business had revenue of $4.65 billion for the quarter, compared to analysts' expectations of $4.90 billion. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The company's quarterly revenue was up 52.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 EPS. As a group, equities analysts forecast that Oscar Health will post 0.47 earnings per share for the current year.

Insider Activity at Oscar Health

In other Oscar Health news, insider Adam Mcananey sold 9,859 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $216,306.46. Following the sale, the insider directly owned 218,096 shares in the company, valued at approximately $4,785,026.24. The trade was a 4.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Richard Scott Blackley sold 31,683 shares of the business's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $695,125.02. Following the completion of the sale, the chief financial officer owned 1,074,977 shares in the company, valued at $23,584,995.38. This represents a 2.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 189,660 shares of company stock worth $4,283,140. 24.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Oscar Health

Several institutional investors and hedge funds have recently made changes to their positions in OSCR. Jones Financial Companies Lllp boosted its position in shares of Oscar Health by 7,473.3% in 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 in the 1st quarter worth about $30,000. Fifth Third Bancorp boosted its position in shares of Oscar Health by 148.7% in the 4th quarter. Fifth Third Bancorp now owns 2,363 shares of the company's stock worth $34,000 after buying an additional 1,413 shares in the last quarter. Quarry LP boosted its position in shares of Oscar Health by 439.8% in the 3rd quarter. Quarry LP now owns 1,803 shares of the company's stock worth $34,000 after buying an additional 1,469 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Oscar Health in the 1st quarter valued at about $49,000. 75.70% of the stock is currently owned by hedge funds and other institutional investors.

Oscar Health Company Profile

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company's primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.

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