Oscar Health (NYSE:OSCR) Hits New 1-Year High After Analyst Upgrade

Oscar Health, Inc. (NYSE:OSCR)’s share price hit a new 52-week high on Thursday after Wells Fargo & Company raised their price target on the stock from $20.00 to $24.00. Wells Fargo & Company currently has an overweight rating on the stock. Oscar Health traded as high as $21.41 and last traded at $20.89, with a volume of 485980 shares traded. The stock had previously closed at $20.74.

A number of other equities analysts also recently issued reports on the company. TheStreet upgraded Oscar Health from a “d” rating to a “c-” rating in a research report on Wednesday, February 21st. The Goldman Sachs Group lifted their price target on shares of Oscar Health from $16.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Raymond James assumed coverage on shares of Oscar Health in a research report on Friday, March 22nd. They set an “outperform” rating and a $20.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Institutional Trading of Oscar Health

A number of institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC boosted its position in Oscar Health by 10.9% during the first quarter. ProShare Advisors LLC now owns 28,950 shares of the company’s stock worth $430,000 after acquiring an additional 2,842 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Oscar Health by 100.0% during the 1st quarter. Sei Investments Co. now owns 42,998 shares of the company’s stock worth $639,000 after purchasing an additional 21,497 shares during the last quarter. 12 West Capital Management LP purchased a new stake in shares of Oscar Health in the first quarter valued at approximately $2,779,000. Susquehanna Fundamental Investments LLC increased its holdings in shares of Oscar Health by 14.9% in the first quarter. Susquehanna Fundamental Investments LLC now owns 51,780 shares of the company’s stock valued at $770,000 after purchasing an additional 6,733 shares during the last quarter. Finally, Swiss National Bank lifted its position in Oscar Health by 2.4% during the first quarter. Swiss National Bank now owns 263,800 shares of the company’s stock worth $3,923,000 after buying an additional 6,100 shares in the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

Oscar Health Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.19 and a quick ratio of 1.19. The stock has a 50 day simple moving average of $15.50 and a two-hundred day simple moving average of $12.02. The company has a market cap of $5.09 billion, a price-to-earnings ratio of -18.47 and a beta of 1.66.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.34. Oscar Health had a negative net margin of 4.62% and a negative return on equity of 29.99%. The firm had revenue of $2.14 billion for the quarter, compared to analysts’ expectations of $1.99 billion. During the same quarter in the previous year, the company posted ($0.18) EPS. The company’s revenue was up 45.8% compared to the same quarter last year. On average, equities research analysts predict that Oscar Health, Inc. will post -0.23 earnings per share for the current fiscal year.

About Oscar Health

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.