Oscar Health (NYSE:OSCR) Stock Price Down 7.9% After Analyst Downgrade

Oscar Health, Inc. (NYSE:OSCR - Get Free Report)'s share price was down 7.9% during trading on Thursday after Baird R W downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $14.65 and last traded at $14.62. Approximately 20,708,746 shares were traded during mid-day trading, an increase of 67% from the average daily volume of 12,433,063 shares. The stock had previously closed at $15.87.

A number of other equities analysts also recently issued reports on the company. Wall Street Zen downgraded Oscar Health from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. UBS Group reiterated a "sell" rating and set a $11.00 price target (down previously from $15.00) on shares of Oscar Health in a research note on Tuesday, July 15th. Barclays cut their price target on Oscar Health from $17.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday. Wells Fargo & Company downgraded Oscar Health from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $16.00 to $10.00 in a research note on Friday, July 11th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $14.00 price target (down previously from $28.00) on shares of Oscar Health in a research note on Friday. Five research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, Oscar Health presently has a consensus rating of "Hold" and a consensus target price of $12.21.

Insider Buying and Selling at Oscar Health

In other news, Director Elbert O. Jr. Robinson sold 25,000 shares of the business's stock in a transaction that occurred on 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. The trade was a 27.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.39% of the stock is owned by insiders.

Hedge Funds Weigh In On Oscar Health

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Oscar Health by 3.7% in the 1st quarter. Vanguard Group Inc. now owns 19,698,442 shares of the company's stock worth $258,247,000 after buying an additional 700,469 shares during the last quarter. Deerfield Management Company L.P. Series C boosted its stake in shares of Oscar Health by 50.7% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company's stock worth $159,062,000 after buying an additional 3,983,325 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in shares of Oscar Health by 4.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 11,826,245 shares of the company's stock worth $155,043,000 after purchasing an additional 467,301 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Oscar Health by 348.7% in the 4th quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company's stock worth $139,246,000 after purchasing an additional 8,051,379 shares during the period. Finally, Thrive Capital Management LLC raised its holdings in shares of Oscar Health by 33.4% in the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock worth $85,258,000 after purchasing an additional 1,588,395 shares during the period. Hedge funds and other institutional investors own 75.70% of the company's stock.

Oscar Health Price Performance

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22. The company has a market cap of $3.68 billion, a P/E ratio of 51.59 and a beta of 1.90. The business's fifty day moving average is $15.99 and its 200 day moving average is $14.92.

Oscar Health (NYSE:OSCR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.83 by $0.09. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $2.87 billion. Oscar Health had a net margin of 1.22% and a return on equity of 10.59%. Oscar Health's revenue was up 42.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 EPS. As a group, sell-side analysts anticipate that Oscar Health, Inc. will post 0.69 EPS for the current year.

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.