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

Oscar Health (NYSE:OSCR) was downgraded by research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They presently have a $13.50 price target on the stock, down from their previous price target of $21.00. Bank of America‘s price target would suggest a potential downside of 0.95% from the company’s current price.

OSCR has been the topic of several other research reports. UBS Group began coverage on shares of Oscar Health in a report on Monday, October 7th. They issued a “neutral” rating and a $23.00 target price on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Oscar Health in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.93.

Oscar Health Stock Performance

NYSE OSCR opened at $13.63 on Wednesday. The firm has a market cap of $3.30 billion, a P/E ratio of -109.85, a P/E/G ratio of 35.84 and a beta of 1.67. Oscar Health has a 52-week low of $6.61 and a 52-week high of $23.79. The business’s 50-day moving average price is $18.71 and its 200 day moving average price is $18.43. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.13 billion. Oscar Health had a return on equity of 1.86% and a net margin of 0.25%. The company’s revenue for the quarter was up 44.6% on a year-over-year basis. During the same period last year, the company earned ($0.07) earnings per share. On average, equities research analysts expect 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 that occurred on Friday, September 6th. The stock was sold at an average price of $17.06, for a total transaction of $286,488.58. Following the sale, the executive vice president now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Alessandrea C. Quane sold 16,793 shares of the firm’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 $286,488.58. Following the completion of the transaction, the executive vice president now owns 392,607 shares in the company, valued at $6,697,875.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Richard Scott Blackley sold 29,957 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 transaction of $511,066.42. Following the completion of the sale, the chief financial officer now owns 853,875 shares in the company, valued at $14,567,107.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 169,569 shares of company stock valued at $3,007,069. Corporate insiders own 25.11% of the company’s stock.

Institutional Trading of Oscar Health

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Oscar Health by 7.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 12,028 shares of the company’s stock valued at $255,000 after acquiring an additional 844 shares during the last quarter. American International Group Inc. raised its position in shares of Oscar Health by 1.3% in the first quarter. American International Group Inc. now owns 79,411 shares of the company’s stock valued at $1,181,000 after buying an additional 1,009 shares during the last quarter. Summit Trail Advisors LLC raised its position in shares of Oscar Health by 5.4% in the second quarter. Summit Trail Advisors LLC now owns 20,820 shares of the company’s stock valued at $329,000 after buying an additional 1,065 shares during the last quarter. KBC Group NV lifted its stake in shares of 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 during the period. Finally, Arizona State Retirement System boosted its position in Oscar Health by 3.7% during the second quarter. Arizona State Retirement System now owns 38,059 shares of the company’s stock worth $602,000 after acquiring an additional 1,351 shares during the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

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.