Piper Sandler Cuts Oscar Health (NYSE:OSCR) Price Target to $18.00

Oscar Health (NYSE:OSCR - Get Free Report) had its price objective reduced by Piper Sandler from $25.00 to $18.00 in a research note issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's target price points to a potential upside of 16.69% from the stock's previous close.

OSCR has been the subject of several other research reports. Wells Fargo & Company downgraded shares of Oscar Health from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $20.00 to $16.00 in a report on Thursday, March 13th. Wall Street Zen lowered Oscar Health from a "buy" rating to a "hold" rating in a research report on Sunday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $16.50.

Oscar Health Stock Performance

Shares of NYSE OSCR traded up $0.01 during trading on Monday, hitting $15.43. The company had a trading volume of 9,840,923 shares, compared to its average volume of 4,653,774. Oscar Health has a 12 month low of $11.20 and a 12 month high of $23.79. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.73 and a current ratio of 0.73. The firm has a market capitalization of $3.93 billion, a P/E ratio of -770.36 and a beta of 1.73. The stock has a 50 day simple moving average of $13.87 and a 200 day simple moving average of $14.53.

Oscar Health (NYSE:OSCR - Get Free Report) last released its 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 0.28% and a return on equity of 2.28%. The firm's revenue was up 42.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 EPS. As a group, analysts anticipate that Oscar Health will post 0.69 earnings per share for the current year.

Insider Activity at Oscar Health

In related news, Director Elbert O. Jr. Robinson sold 25,000 shares of the company's stock in a transaction 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 now directly owns 64,512 shares of the company's stock, valued at $1,059,932.16. This represents a 27.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 24.39% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Oscar Health by 348.7% during the fourth 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. BIT Capital GmbH lifted its position in Oscar Health by 5,711.6% during the fourth quarter. BIT Capital GmbH now owns 4,473,853 shares of the company's stock valued at $60,129,000 after purchasing an additional 4,396,872 shares during the period. Deerfield Management Company L.P. Series C boosted its holdings in Oscar Health by 50.7% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company's stock valued at $159,062,000 after purchasing an additional 3,983,325 shares during the last quarter. Nuveen LLC purchased a new stake in Oscar Health in the first quarter valued at $29,684,000. Finally, Gilder Gagnon Howe & Co. LLC grew its position in Oscar Health by 51.4% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 6,335,862 shares of the company's stock worth $85,154,000 after purchasing an additional 2,151,256 shares during the period. 75.70% of the stock is owned by institutional investors and hedge funds.

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.

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