Wells Fargo & Company Forecasts Strong Price Appreciation for Oscar Health (NYSE:OSCR) Stock

Key Points

• Wells Fargo raised Oscar Health’s price target to $27 from $20 while maintaining an “equal weight” rating. The new target implies 10.41% downside from the prior close, and analysts’ consensus rating remains “Hold” with an average target of $26.22.
• Oscar Health reported quarterly EPS of $1.10, beating the $0.40 consensus estimate, while revenue reached $4.88 billion, up 70.4% year over year and ahead of expectations.
• Insiders sold substantial shares, totaling about $102.8 million over the past 90 days, while institutional investors own 75.7% of the company.

Oscar Health (NYSE:OSCR - Get Free Report) had its price objective boosted by equities researchers at Wells Fargo & Company from $20.00 to $27.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential downside of 10.41% from the company's previous close.

Other research analysts also recently issued research reports about the stock. Robert W. Baird set a $27.00 price objective on shares of Oscar Health in a report on Friday, August 7th. Wolfe Research assumed coverage on shares of Oscar Health in a research report on Tuesday, May 5th. They set a "peer perform" rating for the company. Barclays upped their target price on shares of Oscar Health from $35.00 to $39.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Jefferies Financial Group upgraded Oscar Health from an "underperform" rating to a "hold" rating and raised their target price for the company from $10.00 to $16.00 in a report on Monday, April 20th. Finally, Zacks Research raised Oscar Health from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 6th. 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 stock. Based on data from MarketBeat.com, Oscar Health currently has a consensus rating of "Hold" and an average target price of $26.22.

Oscar Health Trading Up 1.8%

Shares of Oscar Health stock opened at $30.14 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. Oscar Health has a 52 week low of $10.69 and a 52 week high of $33.10. The stock has a 50 day moving average price of $29.35 and a two-hundred day moving average price of $20.67. The stock has a market capitalization of $9.09 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 0.58 and a beta of 2.36.

Oscar Health (NYSE:OSCR - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.40 by $0.70. Oscar Health had a return on equity of 44.96% and a net margin of 3.60%.The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same quarter in the previous year, the company posted ($0.89) earnings per share. The company's quarterly revenue was up 70.4% on a year-over-year basis. As a group, equities analysts anticipate that Oscar Health will post 1.54 earnings per share for the current fiscal year.

Insider Activity at Oscar Health

In related news, Director Mario Schlosser sold 147,500 shares of Oscar Health stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $29.38, for a total transaction of $4,333,550.00. Following the sale, the director directly owned 1,360,866 shares in the company, valued at approximately $39,982,243.08. This trade represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Janet Liang sold 12,475 shares of the business's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $273,701.50. Following the completion of the transaction, the insider directly owned 259,057 shares in the company, valued at approximately $5,683,710.58. This represents a 4.59% 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 sold a total of 3,562,466 shares of company stock valued at $102,829,815 in the last ninety days. Insiders own 22.64% of the company's stock.

Hedge Funds Weigh In On Oscar Health

Several institutional investors have recently added to or reduced their stakes in OSCR. BIT Capital GmbH lifted its stake in Oscar Health by 545.0% in the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company's stock valued at $88,897,000 after purchasing an additional 5,227,152 shares during the last quarter. Morgan Stanley increased its position in Oscar Health by 42.8% in 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 during the last quarter. Bank of America Corp DE increased its position in Oscar Health by 205.1% in the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company's stock worth $32,808,000 after buying an additional 1,922,732 shares during the last quarter. Thrive Capital Management LLC raised its stake in shares of Oscar Health by 33.4% in the fourth quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company's stock valued at $85,258,000 after buying an additional 1,588,395 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in shares of Oscar Health during the 2nd quarter valued at $32,855,000. Institutional investors own 75.70% of the company's stock.

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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