Oscar Health (NYSE:OSCR) Stock Price Down 7.9% After Analyst Downgrade
Oscar Health (NYSE:OSCR) shares fell 7.9% after Barclays downgraded its price target from $17.00 to $11.00, maintaining an underweight rating. The stock traded as low as $14.65, with a significant increase in trading volume. Other analysts, including Wells Fargo and Piper Sandler, also downgraded the stock, contributing to a consensus rating of "Reduce" and an average price target of $11.92. Insider trading activity showed a director sold 25,000 shares, reducing ownership by 27.93%. Oscar Health reported a revenue increase of 42.2% year-over-year in its latest earnings report.
Oscar Health, Inc. (NYSE:OSCR - Get Free Report) dropped 7.9% during mid-day trading on Thursday after Barclays lowered their price target on the stock from $17.00 to $11.00. Barclays currently has an underweight rating on the stock. Oscar Health traded as low as $14.65 and last traded at $14.62. Approximately 20,708,746 shares changed hands during trading, an increase of 67% from the average daily volume of 12,433,063 shares. The stock had previously closed at $15.87.
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A number of other research analysts also recently commented on OSCR. Wells Fargo & Company downgraded Oscar Health from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $16.00 to $10.00 in a research note on Friday, July 11th. Piper Sandler downgraded Oscar Health from an "overweight" rating to a "neutral" rating and set a $14.00 price target for the company. in a research note on Monday, July 14th. Wall Street Zen downgraded Oscar Health from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th. UBS Group restated a "sell" rating and issued a $11.00 target price (down previously from $15.00) on shares of Oscar Health in a research report on Tuesday, July 15th. Finally, Raymond James Financial lowered shares of Oscar Health from an "outperform" rating to a "market perform" rating in a research report on Tuesday, June 24th. Five research analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. Based on data from MarketBeat, Oscar Health presently has a consensus rating of "Reduce" and an average price target of $11.92.
Read Our Latest Stock Report on Oscar Health
Insider Buying and Selling
In related news, Director Elbert O. Jr. Robinson sold 25,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $16.43, for a total value of $410,750.00. Following the sale, the director directly owned 64,512 shares in the company, valued at $1,059,932.16. This represents a 27.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 24.39% of the stock is owned by insiders.
Hedge Funds Weigh In On Oscar Health
A number of institutional investors and hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC raised its position in shares of Oscar Health by 2.7% during the first quarter. Hsbc Holdings PLC now owns 24,113 shares of the company's stock worth $313,000 after purchasing an additional 632 shares during the period. Tempus Wealth Planning LLC raised its position in Oscar Health by 6.7% in the 1st quarter. Tempus Wealth Planning LLC now owns 14,392 shares of the company's stock valued at $189,000 after buying an additional 906 shares during the last quarter. Focus Partners Wealth raised its position in Oscar Health by 1.8% in the 1st quarter. Focus Partners Wealth now owns 55,158 shares of the company's stock valued at $723,000 after buying an additional 949 shares during the last quarter. Xponance Inc. raised its position in Oscar Health by 7.1% in the 1st quarter. Xponance Inc. now owns 15,423 shares of the company's stock valued at $202,000 after buying an additional 1,029 shares during the last quarter. Finally, CWM LLC raised its position in Oscar Health by 50.7% in the 1st quarter. CWM LLC now owns 3,204 shares of the company's stock valued at $42,000 after buying an additional 1,078 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors.
Oscar Health Price Performance
The firm has a market capitalization of $3.73 billion, a PE ratio of 52.20 and a beta of 1.90. The business has a 50-day moving average of $16.10 and a 200 day moving average of $14.92. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.22.
Oscar Health (NYSE:OSCR - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.09. Oscar Health had a return on equity of 10.59% and a net margin of 1.22%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the firm posted $0.62 EPS. The business's revenue was up 42.2% compared to the same quarter last year. As a group, research analysts anticipate that Oscar Health, Inc. will post 0.69 EPS for the current fiscal year.
About Oscar Health
(Get Free Report)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.
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