Oscar Health (NYSE:OSCR) Cut to “Equal Weight” at Wells Fargo & Company

Wells Fargo & Company downgraded shares of Oscar Health (NYSE:OSCR) from an overweight rating to an equal weight rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. The brokerage currently has $16.00 target price on the stock, down from their previous target price of $20.00.

Separately, Jefferies Financial Group started coverage on Oscar Health in a research report on Tuesday, December 10th. They set an “underperform” rating and a $12.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.19.

Oscar Health Price Performance

OSCR opened at $13.23 on Thursday. The company has a 50 day moving average of $15.21 and a two-hundred day moving average of $16.38. Oscar Health has a 52-week low of $12.43 and a 52-week high of $23.79. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.26. The company has a market cap of $3.31 billion, a P/E ratio of -660.92 and a beta of 1.75.

Oscar Health (NYSE:OSCR) last announced its quarterly earnings results on Tuesday, February 4th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.07). Oscar Health had a net margin of 0.28% and a return on equity of 2.28%. On average, analysts expect that Oscar Health will post 0.69 earnings per share for the current year.

Hedge Funds Weigh In On Oscar Health

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Oscar Health by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 18,997,973 shares of the company’s stock worth $255,333,000 after buying an additional 586,626 shares during the last quarter. Deerfield Management Company L.P. Series C grew its holdings in Oscar Health by 50.7% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 11,835,000 shares of the company’s stock worth $159,062,000 after acquiring an additional 3,983,325 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Oscar Health by 348.7% in the 4th quarter. JPMorgan Chase & Co. now owns 10,360,529 shares of the company’s stock worth $139,246,000 after purchasing an additional 8,051,379 shares during the last quarter. Thrive Capital Management LLC raised its stake in shares of Oscar Health by 33.4% in the 4th quarter. Thrive Capital Management LLC now owns 6,343,617 shares of the company’s stock valued at $85,258,000 after purchasing an additional 1,588,395 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its position in shares of Oscar Health by 51.4% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 6,335,862 shares of the company’s stock worth $85,154,000 after purchasing an additional 2,151,256 shares during the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

Oscar Health Company Profile

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.