Oscar Health (NYSE:OSCR) Price Target Raised to $27.00

Oscar Health (NYSE:OSCR) had its price objective upped by Wells Fargo & Company from $20.00 to $27.00 in a research note released on Thursday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Barclays raised their price target on Oscar Health from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. UBS Group increased their price objective on Oscar Health from $20.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Robert W. Baird set a $27.00 price objective on Oscar Health in a report on Friday, August 7th. Weiss Ratings raised shares of Oscar Health from a “sell (d+)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $26.22.

Oscar Health Price Performance

Shares of NYSE:OSCR opened at $32.68 on Thursday. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 0.67 and a beta of 2.36. Oscar Health has a 1 year low of $10.69 and a 1 year high of $33.27. The company has a current ratio of 1.09, a quick ratio of 1.11 and a debt-to-equity ratio of 0.21. The business has a fifty day simple moving average of $29.65 and a 200 day simple moving average of $20.85.

Oscar Health (NYSE:OSCR) last issued its 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. Oscar Health had a return on equity of 38.45% and a net margin of 3.60%.The firm had revenue of $4.88 billion for 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 business’s quarterly revenue was up 70.4% compared to the same quarter last year. As a group, sell-side analysts predict that Oscar Health will post 1.54 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Janet Liang sold 12,475 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total transaction of $273,701.50. Following the completion of the sale, the insider owned 259,057 shares in the company, valued at approximately $5,683,710.58. This represents a 4.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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, insider Adam Mcananey sold 9,859 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $216,306.46. Following the sale, the insider owned 218,096 shares of the company’s stock, valued at approximately $4,785,026.24. This trade represents a 4.32% 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. Over the last three months, insiders sold 3,562,466 shares of company stock valued at $102,829,815. Corporate insiders own 22.64% of the company’s stock.

Institutional Investors Weigh In On Oscar Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in OSCR. Vanguard Group Inc. boosted its position in Oscar Health by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 20,701,250 shares of the company’s stock worth $297,477,000 after purchasing an additional 540,851 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Oscar Health by 11.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 9,217,816 shares of the company’s stock valued at $132,461,000 after purchasing an additional 910,320 shares during the period. Morgan Stanley raised its position in shares of Oscar Health by 42.8% in the fourth quarter. Morgan Stanley now owns 6,814,046 shares of the company’s stock valued at $97,918,000 after purchasing an additional 2,043,758 shares during the period. Thrive Capital Management LLC lifted 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 worth $85,258,000 after buying an additional 1,588,395 shares during the last quarter. Finally, BIT Capital GmbH lifted its stake 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 buying an additional 5,227,152 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

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.