Oscar Health (NYSE:OSCR) Raised to Hold at Wells Fargo & Company

Oscar Health (NYSE:OSCR) was upgraded by equities researchers at Wells Fargo & Company from a “strong sell” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other research analysts also recently commented on the stock. Raymond James Financial raised shares of Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research note on Thursday, February 12th. Barclays increased their target price on shares of Oscar Health from $21.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 26th. Wolfe Research began coverage on shares of Oscar Health in a research report on Tuesday, May 5th. They set a “peer perform” rating for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Oscar Health in a research report on Tuesday, April 21st. Finally, Zacks Research raised shares of Oscar Health from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $20.22.

Oscar Health Price Performance

NYSE:OSCR opened at $23.54 on Thursday. Oscar Health has a 12-month low of $10.69 and a 12-month high of $25.58. The company’s 50-day moving average is $18.15 and its two-hundred day moving average is $16.00. 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 firm has a market cap of $7.10 billion, a price-to-earnings ratio of -39.90, a price-to-earnings-growth ratio of 1.43 and a beta of 2.37.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The company had revenue of $4.65 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the company posted $0.92 EPS. The company’s quarterly revenue was up 52.6% compared to the same quarter last year. Research analysts expect that Oscar Health will post 0.47 EPS for the current year.

Insider Buying and Selling

In other Oscar Health news, insider Janet Liang sold 12,475 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $273,701.50. Following the completion of the sale, the insider owned 259,057 shares of the company’s stock, valued at $5,683,710.58. This trade represents a 4.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, CFO Richard Scott Blackley sold 31,683 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total transaction of $695,125.02. Following the completion of the sale, the chief financial officer directly owned 1,074,977 shares of the company’s stock, valued at $23,584,995.38. This trade represents a 2.86% decrease in their position. 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 have sold 189,660 shares of company stock valued at $4,283,140 over the last three months. Company insiders own 24.39% of the company’s stock.

Institutional Trading of Oscar Health

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE grew 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 valued at $32,808,000 after acquiring an additional 1,922,732 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Oscar Health by 9.4% during the 1st quarter. Arkadios Wealth Advisors now owns 14,275 shares of the company’s stock valued at $164,000 after buying an additional 1,228 shares during the last quarter. Amundi purchased a new position in shares of Oscar Health during the 1st quarter valued at approximately $362,000. California State Teachers Retirement System boosted its stake in shares of Oscar Health by 23.3% during the 1st quarter. California State Teachers Retirement System now owns 235,443 shares of the company’s stock valued at $2,701,000 after buying an additional 44,443 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of Oscar Health by 73.4% during the 1st quarter. Royal Bank of Canada now owns 282,904 shares of the company’s stock valued at $3,246,000 after buying an additional 119,714 shares during the last quarter. Institutional investors and hedge funds 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.