Oscar Health (NYSE:OSCR) Cut to Underperform at Bank of America

Bank of America cut shares of Oscar Health (NYSE:OSCR) from a neutral rating to an underperform rating in a report released on Wednesday morning, Marketbeat Ratings reports. The firm currently has $13.50 price objective on the stock, down from their previous price objective of $21.00.

Other research analysts also recently issued reports about the company. UBS Group assumed coverage on Oscar Health in a research note on Monday, October 7th. They issued a “neutral” rating and a $23.00 price objective for the company. Piper Sandler reissued an “overweight” rating and issued a $28.00 price objective on shares of Oscar Health in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Oscar Health presently has an average rating of “Moderate Buy” and an average price target of $22.93.

Oscar Health Trading Down 0.7 %

Oscar Health stock opened at $13.54 on Wednesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.28 billion, a PE ratio of -104.15, a P/E/G ratio of 30.80 and a beta of 1.67. The stock’s 50 day simple moving average is $18.54 and its two-hundred day simple moving average is $18.38. Oscar Health has a 12 month low of $6.61 and a 12 month high of $23.79.

Oscar Health (NYSE:OSCR) last announced its earnings results on Thursday, November 7th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.02). The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.33 billion. Oscar Health had a return on equity of 1.86% and a net margin of 0.25%. The company’s quarterly revenue was up 68.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.29) earnings per share. Analysts anticipate that Oscar Health will post 0.01 earnings per share for the current year.

Insider Transactions at Oscar Health

In related news, EVP Alessandrea C. Quane sold 16,793 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $17.06, for a total transaction of $286,488.58. Following the completion of the transaction, the executive vice president now directly owns 392,607 shares in the company, valued at $6,697,875.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Richard Scott Blackley sold 68,978 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $17.99, for a total transaction of $1,240,914.22. Following the completion of the transaction, the chief financial officer now directly owns 884,213 shares of the company’s stock, valued at approximately $15,906,991.87. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alessandrea C. Quane sold 16,793 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $17.06, for a total value of $286,488.58. Following the transaction, the executive vice president now directly owns 392,607 shares of the company’s stock, valued at approximately $6,697,875.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 169,569 shares of company stock worth $3,007,069. 25.11% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Oscar Health

Several institutional investors have recently added to or reduced their stakes in OSCR. Quantbot Technologies LP lifted its stake in Oscar Health by 435.5% during the first quarter. Quantbot Technologies LP now owns 14,495 shares of the company’s stock worth $216,000 after purchasing an additional 11,788 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Oscar Health by 20.8% in the first quarter. Oppenheimer & Co. Inc. now owns 19,450 shares of the company’s stock valued at $289,000 after buying an additional 3,350 shares during the last quarter. Avalon Trust Co purchased a new stake in Oscar Health in the first quarter valued at approximately $69,000. Swiss National Bank lifted its stake in Oscar Health by 2.4% in the first quarter. Swiss National Bank now owns 263,800 shares of the company’s stock valued at $3,923,000 after buying an additional 6,100 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of Oscar Health by 14.9% during the first quarter. Susquehanna Fundamental Investments LLC now owns 51,780 shares of the company’s stock worth $770,000 after purchasing an additional 6,733 shares during the last quarter. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Oscar Health Company Profile

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.