Oscar Health (NYSE:OSCR) Shares Up 7.1% on Analyst Upgrade

Key Points

• Oscar Health shares rose 7.1% after Wells Fargo raised its price target from $20 to $27, although it maintained an equal-weight rating. The stock traded near $32.98, well above the analyst consensus target of $26.22.
• Analyst sentiment remains mixed: Oscar has a consensus “Hold” rating, with one Strong Buy, three Buys and eight Holds. Price targets range from $27 at Wells Fargo and Robert W. Baird to $36 at Piper Sandler.
• The company reported strong quarterly results, including $1.10 in EPS versus a $0.40 consensus estimate and $4.88 billion in revenue, up 70.4% year over year. Meanwhile, insiders sold $102.8 million of stock over the past 90 days, primarily through pre-arranged plans to cover tax obligations.

Oscar Health, Inc. (NYSE:OSCR - Get Free Report) rose 7.1% during mid-day trading on Friday after Wells Fargo & Company raised their price target on the stock from $20.00 to $27.00. Wells Fargo & Company currently has an equal weight rating on the stock. Oscar Health traded as high as $33.09 and last traded at $32.9770. 2,685,982 shares were traded during mid-day trading, a decline of 63% from the average session volume of 7,282,830 shares. The stock had previously closed at $30.78.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $30.00 target price on shares of Oscar Health in a research report on Tuesday. Weiss Ratings upgraded Oscar Health from a "sell (d+)" rating to a "hold (c+)" rating in a report on Tuesday. Robert W. Baird set a $27.00 target price on Oscar Health in a research report on Friday, August 7th. Zacks Research upgraded Oscar Health from a "hold" rating to a "strong-buy" rating in a report on Monday, July 6th. Finally, Piper Sandler reissued an "overweight" rating and set a $36.00 price target on shares of Oscar Health in a research report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Oscar Health has a consensus rating of "Hold" and a consensus price target of $26.22.

Insider Activity at Oscar Health

In other news, CFO Richard Scott Blackley sold 31,683 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $695,125.02. Following the sale, the chief financial officer directly owned 1,074,977 shares of the company's stock, valued at approximately $23,584,995.38. This represents a 2.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, insider Adam Mcananey sold 9,859 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $216,306.46. Following the completion of the sale, the insider owned 218,096 shares of the company's stock, valued at $4,785,026.24. This trade represents a 4.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 sold 3,562,466 shares of company stock worth $102,829,815 over the last ninety days. Company insiders own 22.64% of the company's stock.

Institutional Investors Weigh In On Oscar Health

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Oscar Health by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company's stock worth $297,477,000 after acquiring an additional 540,851 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in shares of Oscar Health by 11.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,217,816 shares of the company's stock valued at $132,461,000 after buying an additional 910,320 shares during the period. Morgan Stanley grew its position 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 buying an additional 2,043,758 shares in the last quarter. Thrive Capital Management LLC increased its stake in Oscar Health by 33.4% during the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock worth $85,258,000 after acquiring an additional 1,588,395 shares during the period. Finally, BIT Capital GmbH raised its holdings in Oscar Health by 545.0% in the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company's stock valued at $88,897,000 after acquiring an additional 5,227,152 shares in the last quarter. Institutional investors own 75.70% of the company's stock.

Oscar Health Trading Up 7.3%

The stock has a market capitalization of $9.96 billion, a P/E ratio of 23.54, a P/E/G ratio of 0.61 and a beta of 2.36. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $29.49 and a two-hundred day moving average price of $20.77.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.70. The company had revenue of $4.88 billion for the quarter, compared to analysts' expectations of $4.73 billion. Oscar Health had a return on equity of 44.96% and a net margin of 3.60%.Oscar Health's revenue was up 70.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.89) earnings per share. On average, analysts expect that Oscar Health, Inc. will post 1.54 EPS for the current fiscal year.

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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