Zacks Investment Research Upgrades Oscar Health (NYSE:OSCR) to “Buy”

Oscar Health (NYSE:OSCRGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Zacks.com reports. The firm currently has a $5.50 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 17.02% from the company’s current price.

According to Zacks, “Oscar Health Inc. is a digital health-insurance company. Oscar Health Inc. is based in New York. “

Several other research analysts have also recently weighed in on the company. Morgan Stanley lowered their target price on Oscar Health from $20.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, March 28th. Bank of America downgraded Oscar Health from a “buy” rating to a “neutral” rating and cut their target price for the stock from $12.00 to $6.00 in a research note on Thursday, May 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $10.00.

Shares of Oscar Health stock opened at $4.70 on Thursday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.22. Oscar Health has a twelve month low of $4.48 and a twelve month high of $29.70. The firm has a market capitalization of $991.73 million, a PE ratio of -1.75 and a beta of 0.75. The firm’s 50-day moving average price is $7.52 and its 200 day moving average price is $7.83.

Oscar Health (NYSE:OSCRGet Rating) last released its earnings results on Tuesday, May 10th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.04. Oscar Health had a negative return on equity of 37.23% and a negative net margin of 22.93%. During the same period in the prior year, the firm earned ($0.98) EPS. On average, sell-side analysts predict that Oscar Health will post -2.53 EPS for the current fiscal year.

In related news, CFO Richard Scott Blackley sold 19,204 shares of the stock in a transaction that occurred on Tuesday, March 8th. The stock was sold at an average price of $7.33, for a total value of $140,765.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Alessandrea C. Quane sold 11,638 shares of the business’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $8.30, for a total value of $96,595.40. The disclosure for this sale can be found here.

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of Oscar Health by 3,837.2% in the second quarter. Royal Bank of Canada now owns 5,709 shares of the company’s stock valued at $123,000 after buying an additional 5,564 shares during the period. Bank of America Corp DE grew its stake in shares of Oscar Health by 32.3% in the 2nd quarter. Bank of America Corp DE now owns 21,762 shares of the company’s stock worth $467,000 after purchasing an additional 5,310 shares during the last quarter. Morgan Stanley raised its holdings in shares of Oscar Health by 67.8% in the 2nd quarter. Morgan Stanley now owns 916,917 shares of the company’s stock worth $19,714,000 after purchasing an additional 370,639 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Oscar Health by 383.9% during the third quarter. Goldman Sachs Group Inc. now owns 475,804 shares of the company’s stock valued at $8,274,000 after purchasing an additional 377,481 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Oscar Health by 2.3% during the third quarter. Geode Capital Management LLC now owns 343,592 shares of the company’s stock worth $5,975,000 after buying an additional 7,652 shares in the last quarter. 98.65% of the stock is currently owned by hedge funds and other institutional investors.

About Oscar Health (Get Rating)

Oscar Health, Inc provides health insurance products and services in the United States. The company offers Individual & Family, Small Group, and Medicare Advantage plans, as well as +Oscar, a technology driven platform designed to help providers and payor clients to engage with members and patients.

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