Oscar Health (NYSE:OSCR) Sets New 52-Week High After Analyst Upgrade

Oscar Health, Inc. (NYSE:OSCR)’s stock 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 changing hands. The stock had previously closed at $20.74.

Several other equities analysts also recently commented 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 upped their price target on Oscar Health from $16.00 to $21.00 and gave the stock 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 on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.00.

Institutional Trading of Oscar Health

Several hedge funds have recently modified their holdings of the company. Precision Wealth Strategies LLC bought a new stake in Oscar Health during the third quarter worth approximately $60,000. SG Americas Securities LLC bought a new position in shares of Oscar Health during the 3rd quarter valued at approximately $62,000. Avalon Trust Co bought a new position in shares of Oscar Health during the 1st quarter valued at approximately $69,000. Brown Advisory Inc. purchased a new stake in Oscar Health during the 3rd quarter valued at $83,000. Finally, Amalgamated Bank lifted its position in Oscar Health by 10.6% in the third quarter. Amalgamated Bank now owns 15,762 shares of the company’s stock worth $88,000 after buying an additional 1,516 shares during the last quarter. 75.70% of the stock is owned by hedge funds and other institutional investors.

Oscar Health Price Performance

The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $5.09 billion, a PE ratio of -18.47 and a beta of 1.66. The firm’s 50 day simple moving average is $15.50 and its 200 day simple moving average is $12.02.

Oscar Health (NYSE:OSCR) last released its earnings results on Tuesday, May 7th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.34. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.99 billion. Oscar Health had a negative net margin of 4.62% and a negative return on equity of 29.99%. The business’s revenue was up 45.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.18) EPS. As a group, research analysts anticipate that Oscar Health, Inc. will post -0.23 EPS 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.