Piper Sandler Initiates Coverage on Oscar Health (NYSE:OSCR)

Equities research analysts at Piper Sandler assumed coverage on shares of Oscar Health (NYSE:OSCR) in a research report issued on Wednesday, MarketBeat.com reports. The firm set an “overweight” rating and a $25.00 price target on the stock. Piper Sandler’s price objective suggests a potential upside of 41.64% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group raised their price target on shares of Oscar Health from $16.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, May 9th. Raymond James began coverage on Oscar Health in a report on Friday, March 22nd. They issued an “outperform” rating and a $20.00 target price for the company. Robert W. Baird started coverage on Oscar Health in a report on Thursday, May 30th. They issued an “outperform” rating and a $28.00 price objective for the company. Baird R W upgraded shares of Oscar Health to a “strong-buy” rating in a report on Thursday, May 30th. Finally, Bank of America reaffirmed a “neutral” rating and issued a $21.00 price target (down previously from $25.00) on shares of Oscar Health in a research report on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $19.75.

Oscar Health Price Performance

Oscar Health stock opened at $17.65 on Wednesday. Oscar Health has a 52-week low of $4.72 and a 52-week high of $23.44. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average is $19.50 and its 200 day moving average is $15.27. The company has a market cap of $4.19 billion, a price-to-earnings ratio of -44.12 and a beta of 1.68.

Oscar Health (NYSE:OSCR) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.34. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.99 billion. Oscar Health had a negative return on equity of 5.77% and a negative net margin of 0.82%. The company’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period last year, the company earned ($0.18) EPS. Sell-side analysts forecast that Oscar Health will post -0.05 EPS for the current fiscal year.

Insider Activity

In other news, COO Steven Wolin sold 18,607 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $19.46, for a total transaction of $362,092.22. Following the sale, the chief operating officer now directly owns 65,316 shares of the company’s stock, valued at approximately $1,271,049.36. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Oscar Health news, COO Steven Wolin sold 18,607 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $19.46, for a total transaction of $362,092.22. Following the completion of the transaction, the chief operating officer now directly owns 65,316 shares in the company, valued at $1,271,049.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mario Schlosser sold 5,808 shares of Oscar Health stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $19.46, for a total transaction of $113,023.68. Following the completion of the sale, the insider now owns 65,920 shares in the company, valued at approximately $1,282,803.20. The disclosure for this sale can be found here. Insiders sold a total of 81,655 shares of company stock valued at $1,589,006 in the last three months. 25.11% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Oscar Health

Large investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its position in Oscar Health by 19.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,125,355 shares of the company’s stock worth $6,268,000 after buying an additional 182,206 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Oscar Health during the 3rd quarter valued at about $117,000. Dark Forest Capital Management LP purchased a new stake in shares of Oscar Health in the third quarter valued at about $581,000. Federated Hermes Inc. increased its position in Oscar Health by 19,729.0% during the third quarter. Federated Hermes Inc. now owns 290,099 shares of the company’s stock worth $1,616,000 after purchasing an additional 288,636 shares during the last quarter. Finally, Algert Global LLC raised its stake in Oscar Health by 160.1% during the third quarter. Algert Global LLC now owns 147,567 shares of the company’s stock worth $822,000 after purchasing an additional 90,840 shares during the period. Hedge funds and other institutional investors own 75.70% of the company’s stock.

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.