Oscar Health (NYSE:OSCR) Price Target Raised to $27.00 at Wells Fargo & Company

Oscar Health (NYSE:OSCR) had its price target increased by Wells Fargo & Company from $20.00 to $27.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 10.41% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Barclays increased their target price on Oscar Health from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Oscar Health from a “sell (d+)” rating to a “hold (c+)” rating in a research note on Tuesday. The Goldman Sachs Group reiterated a “neutral” rating and set a $30.00 price objective on shares of Oscar Health in a research note on Tuesday. Wolfe Research began coverage on Oscar Health in a report on Tuesday, May 5th. They set a “peer perform” rating on the stock. Finally, Wall Street Zen raised Oscar Health from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 14th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Oscar Health presently has an average rating of “Hold” and a consensus price target of $26.22.

Oscar Health Stock Performance

NYSE OSCR opened at $30.14 on Thursday. The company’s 50 day moving average is $29.35 and its 200-day moving average is $20.67. Oscar Health has a 12-month low of $10.69 and a 12-month high of $33.10. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26. The firm has a market cap of $9.09 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 0.58 and a beta of 2.36.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.70. The company had revenue of $4.88 billion for the quarter, compared to analysts’ expectations of $4.73 billion. Oscar Health had a net margin of 3.60% and a return on equity of 44.96%. Oscar Health’s revenue was up 70.4% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.89) EPS. Sell-side analysts predict that Oscar Health will post 1.54 earnings per share for the current year.

Insider Buying and Selling

In other Oscar Health news, Director Mario Schlosser sold 147,500 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $29.38, for a total value of $4,333,550.00. Following the transaction, the director directly owned 1,360,866 shares in the company, valued at $39,982,243.08. This represents a 9.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Janet Liang sold 12,475 shares of Oscar Health stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $21.94, for a total value of $273,701.50. Following the sale, the insider owned 259,057 shares of the company’s stock, valued at approximately $5,683,710.58. This trade represents a 4.59% decrease in their position. The SEC filing for this sale provides additional information. 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 a total of 3,562,466 shares of company stock valued at $102,829,815 in the last ninety days. 22.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Oscar Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Oscar Health by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock worth $297,477,000 after acquiring an additional 540,851 shares during the last quarter. Geode Capital Management LLC lifted its position in Oscar Health by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 4,798,313 shares of the company’s stock valued at $68,964,000 after purchasing an additional 116,430 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Oscar Health by 1,097.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 237,882 shares of the company’s stock valued at $3,418,000 after purchasing an additional 218,022 shares during the last quarter. BIT Capital GmbH grew its holdings in shares of Oscar Health by 545.0% in the fourth quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock worth $88,897,000 after purchasing an additional 5,227,152 shares during the last quarter. Finally, Simplify Asset Management Inc. purchased a new position in shares of Oscar Health in the fourth quarter worth $2,948,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Oscar Health Company Profile

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.