Oscar Health (NYSE:OSCR) Downgraded to “Underperform” Rating by 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, Marketbeat Ratings reports. The brokerage currently has $13.50 price objective on the stock, down from their prior price objective of $21.00.

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

Oscar Health Stock Performance

Shares of NYSE OSCR traded down $1.27 during trading on Wednesday, reaching $14.28. 3,256,241 shares of the company traded hands, compared to its average volume of 3,274,366. Oscar Health has a 52-week low of $6.61 and a 52-week high of $23.79. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.26. The firm has a 50 day simple moving average of $18.71 and a 200-day simple moving average of $18.43. The stock has a market capitalization of $3.45 billion, a PE ratio of -109.85, a P/E/G ratio of 35.84 and a beta of 1.67.

Oscar Health (NYSE:OSCR) last announced its earnings results on Wednesday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Oscar Health had a return on equity of 1.86% and a net margin of 0.25%. The business’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same period last year, the firm posted ($0.07) earnings per share. Equities research analysts anticipate that Oscar Health will post 0.01 earnings per share for the current year.

Insider Buying and Selling at Oscar Health

In other news, EVP Alessandrea C. Quane sold 16,793 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $17.06, for a total transaction of $286,488.58. Following the transaction, the executive vice president now owns 392,607 shares of the company’s stock, valued at approximately $6,697,875.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Oscar Health news, EVP Alessandrea C. Quane sold 16,793 shares of Oscar Health 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 completion of the transaction, the executive vice president now directly owns 392,607 shares of the company’s stock, valued at $6,697,875.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Richard Scott Blackley sold 29,957 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $17.06, for a total value of $511,066.42. Following the sale, the chief financial officer now directly owns 853,875 shares in the company, valued at $14,567,107.50. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 169,569 shares of company stock valued at $3,007,069 over the last quarter. 25.11% of the stock is currently owned by insiders.

Institutional Trading of Oscar Health

Several hedge funds have recently made changes to their positions in OSCR. Swiss National Bank increased its stake in shares of Oscar Health by 17.8% during the 3rd quarter. Swiss National Bank now owns 314,900 shares of the company’s stock worth $6,679,000 after purchasing an additional 47,500 shares in the last quarter. KBC Group NV lifted its position in Oscar Health by 41.2% during the third quarter. KBC Group NV now owns 4,552 shares of the company’s stock valued at $97,000 after buying an additional 1,328 shares in the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Oscar Health by 175.3% in the third quarter. Oppenheimer & Co. Inc. now owns 70,806 shares of the company’s stock worth $1,502,000 after buying an additional 45,088 shares during the period. Victory Capital Management Inc. lifted its position in shares of Oscar Health by 42.4% during the third quarter. Victory Capital Management Inc. now owns 58,353 shares of the company’s stock worth $1,238,000 after purchasing an additional 17,377 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new stake in Oscar Health during the 3rd quarter worth $205,000. Institutional investors and hedge funds 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.