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

Oscar Health (NYSE:OSCR - Get Free Report) was downgraded by Bank of America from a "neutral" rating to an "underperform" rating in a research report issued on Wednesday, MarketBeat reports. They currently have a $13.50 price objective on the stock, down from their previous price objective of $21.00. Bank of America's target price points to a potential downside of 12.17% from the stock's current price.

Several other research firms have also issued reports on OSCR. Piper Sandler reissued an "overweight" rating and set a $28.00 price target on shares of Oscar Health in a research report on Tuesday, September 10th. UBS Group initiated coverage on shares of Oscar Health in a report on Monday, October 7th. They issued a "neutral" rating and a $23.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $22.93.

Oscar Health Stock Down 16.2 %

OSCR traded down $2.97 during trading on Wednesday, hitting $15.37. The company had a trading volume of 10,159,896 shares, compared to its average volume of 3,261,233. The business has a 50-day moving average of $18.74 and a 200-day moving average of $18.43. Oscar Health has a 1-year low of $6.03 and a 1-year high of $23.79. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.04. Oscar Health had a return on equity of 1.86% and a net margin of 0.25%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company earned ($0.07) earnings per share. Oscar Health's quarterly revenue was up 44.6% on a year-over-year basis. On average, equities analysts anticipate that Oscar Health will post 0.01 EPS for the current fiscal year.

Insider Activity

In other news, EVP Alessandrea C. Quane sold 16,793 shares of the company'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 completion of the transaction, the executive vice president now directly owns 392,607 shares in the company, valued at $6,697,875.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 transaction of $286,488.58. Following the sale, the executive vice president now directly owns 392,607 shares of the company's stock, valued at $6,697,875.42. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mario Schlosser sold 3,198 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $17.99, for a total value of $57,532.02. Following the transaction, the insider now owns 76,982 shares in the company, valued at $1,384,906.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 169,569 shares of company stock valued at $3,007,069. 25.11% of the stock is owned by insiders.

Hedge Funds Weigh In On Oscar Health

A number of hedge funds and other institutional investors have recently made changes to their positions in OSCR. Avalon Trust Co bought a new stake in shares of Oscar Health in the 1st quarter valued at approximately $69,000. Point72 Hong Kong Ltd bought a new stake in Oscar Health in the second quarter valued at about $78,000. Quest Partners LLC acquired a new position in Oscar Health during the second quarter valued at approximately $93,000. KBC Group NV lifted its holdings in Oscar Health by 41.2% during the third quarter. KBC Group NV now owns 4,552 shares of the company's stock worth $97,000 after acquiring an additional 1,328 shares in the last quarter. Finally, Amalgamated Bank grew its position in shares of Oscar Health by 27.7% in the 2nd quarter. Amalgamated Bank now owns 6,727 shares of the company's stock valued at $106,000 after purchasing an additional 1,458 shares during the period. 75.70% of the stock is owned by institutional investors.

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.