The Goldman Sachs Group Initiates Coverage on Oscar Health (NYSE:OSCR)

Key Points

• The Goldman Sachs Group has initiated coverage on Oscar Health (NYSE:OSCR) with a "neutral" rating and a price target of $17.00, indicating a potential downside of 18.28% from the current price.
• Oscar Health's stock consensus rating is currently "Reduce"** with an average target price of $13.19, following multiple rating downgrades from various analysts.
• In recent insider trading activity, CEO Mario Schlosser sold 395,000 shares at an average price of $18.43, reducing his stake by 44.08%.

Research analysts at The Goldman Sachs Group initiated coverage on shares of Oscar Health (NYSE:OSCR - Get Free Report) in a research report issued to clients and investors on Tuesday, MarketBeat.com reports. The firm set a "neutral" rating and a $17.00 price target on the stock. The Goldman Sachs Group's target price indicates a potential downside of 18.28% from the company's current price.

Other equities research analysts have also recently issued reports about the company. Baird R W cut Oscar Health from a "strong-buy" rating to a "hold" rating in a report on Friday, July 25th. Wells Fargo & Company raised their target price on shares of Oscar Health from $10.00 to $14.00 and gave the stock an "underweight" rating in a report on Tuesday, October 7th. Barclays cut their target price on shares of Oscar Health from $17.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday, July 23rd. UBS Group restated a "sell" rating and issued a $11.00 target price (down previously from $15.00) on shares of Oscar Health in a report on Tuesday, July 15th. Finally, Piper Sandler cut their target price on shares of Oscar Health from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Six equities research analysts have rated the stock with a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $13.19.

Oscar Health Trading Up 2.0%

Shares of OSCR opened at $20.80 on Tuesday. Oscar Health has a 1-year low of $11.20 and a 1-year high of $23.80. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.86 and a quick ratio of 0.86. The firm's 50 day simple moving average is $18.04 and its 200 day simple moving average is $15.96. The company has a market capitalization of $5.38 billion, a P/E ratio of -25.68 and a beta of 1.89.

Oscar Health (NYSE:OSCR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.89) EPS for the quarter, beating analysts' consensus estimates of ($0.90) by $0.01. Oscar Health had a negative net margin of 1.50% and a negative return on equity of 13.78%. The business had revenue of $2.86 billion for the quarter, compared to analysts' expectations of $2.88 billion. During the same period last year, the business earned $0.20 earnings per share. The business's quarterly revenue was up 29.0% on a year-over-year basis. Sell-side analysts forecast that Oscar Health will post 0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mario Schlosser sold 395,000 shares of Oscar Health stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $18.43, for a total value of $7,279,850.00. Following the completion of the transaction, the insider owned 501,148 shares of the company's stock, valued at $9,236,157.64. The trade was a 44.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 25.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oscar Health

Large investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of Oscar Health by 23.8% during the 1st quarter. Victory Capital Management Inc. now owns 285,997 shares of the company's stock valued at $3,749,000 after purchasing an additional 54,938 shares during the period. Concurrent Investment Advisors LLC bought a new stake in shares of Oscar Health during the 1st quarter valued at about $677,000. Nuveen LLC bought a new stake in shares of Oscar Health during the 1st quarter valued at about $29,684,000. NewEdge Advisors LLC grew its stake in shares of Oscar Health by 89.7% during the 1st quarter. NewEdge Advisors LLC now owns 188,058 shares of the company's stock valued at $2,465,000 after purchasing an additional 88,946 shares during the period. Finally, Matauro LLC bought a new stake in shares of Oscar Health during the 2nd quarter valued at about $1,508,000. 75.70% of the stock is currently owned by institutional investors.

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.