Oscar Health (NYSE:OSCR) Raised to "Overweight" at Barclays

Key Points

• Barclays upgraded Oscar Health from “equal weight” to “overweight” and set a $35 price target, implying about 28.9% upside from the prior close.
• The stock has seen mixed analyst sentiment overall: MarketBeat says Oscar Health now has a consensus “Hold” rating with an average price target of $20.78, even as some firms have recently turned more positive.
• Oscar Health recently reported better-than-expected EPS of $2.07 for the quarter, though revenue came in below estimates at $4.65 billion; the company’s stock was also noted as down 0.9% on the day of the report.

Oscar Health (NYSE:OSCR - Get Free Report) was upgraded by stock analysts at Barclays from an "equal weight" rating to an "overweight" rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports. The brokerage currently has a $35.00 target price on the stock. Barclays's price objective points to a potential upside of 28.90% from the stock's previous close.

Other analysts have also issued reports about the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Oscar Health in a research report on Tuesday, April 21st. Raymond James Financial raised Oscar Health from a "market perform" rating to an "outperform" rating and set a $18.00 price objective for the company in a research note on Thursday, February 12th. UBS Group boosted their price objective on Oscar Health from $15.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Zacks Research lowered Oscar Health from a "strong-buy" rating to a "hold" rating in a research report on Friday, June 5th. Finally, Wolfe Research assumed coverage on Oscar Health in a report on Tuesday, May 5th. They issued a "peer perform" rating on the stock. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Oscar Health has a consensus rating of "Hold" and an average price target of $20.78.

Oscar Health Stock Down 0.9%

Oscar Health stock opened at $27.15 on Wednesday. The company has a market capitalization of $8.19 billion, a PE ratio of -46.02, a PEG ratio of 1.92 and a beta of 2.37. Oscar Health has a 12-month low of $10.69 and a 12-month high of $28.16. The firm's fifty day moving average is $19.02 and its 200 day moving average is $16.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26.

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

Insiders Place Their Bets

In related news, CEO Mark T. Bertolini bought 1,000,000 shares of the company's stock in a transaction dated Monday, April 6th. The shares were bought at an average price of $11.92 per share, for a total transaction of $11,920,000.00. Following the completion of the acquisition, the chief executive officer directly owned 10,196,876 shares of the company's stock, valued at $121,546,761.92. This trade represents a 10.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam Mcananey sold 9,859 shares of Oscar Health stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $216,306.46. Following the transaction, 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 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. Insiders have sold 189,660 shares of company stock worth $4,283,140 in the last 90 days. Company insiders own 25.11% of the company's stock.

Hedge Funds Weigh In On Oscar Health

A number of hedge funds have recently bought and sold shares of the company. BIT Capital GmbH grew its stake in shares of Oscar Health by 545.0% in the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company's stock worth $88,897,000 after acquiring an additional 5,227,152 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Oscar Health by 89.0% during the third quarter. American Century Companies Inc. now owns 5,298,340 shares of the company's stock valued at $100,298,000 after purchasing an additional 2,495,691 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in Oscar Health by 146.5% during the third quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company's stock worth $68,886,000 after purchasing an additional 2,163,000 shares during the last quarter. Morgan Stanley boosted its holdings in Oscar Health by 42.8% during the fourth quarter. Morgan Stanley now owns 6,814,046 shares of the company's stock worth $97,918,000 after purchasing an additional 2,043,758 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Oscar Health by 205.1% in the 1st quarter. Bank of America Corp DE now owns 2,860,310 shares of the company's stock worth $32,808,000 after purchasing an additional 1,922,732 shares in the last quarter. 75.70% of the stock is owned by hedge funds and other institutional investors.

About Oscar Health

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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