On June 12, Oscar Health rose 5.08% in regular trading, trading at $29.20/share, with turnover of $121 million. The stock has maintained strong upward momentum following consecutive rating upgrades from major investment banks.
On the news front, Barclays upgraded Oscar Health from Equal Weight to Overweight on June 10, raising its target price from $30 to $35, making it the second major bank to upgrade the stock in recent weeks. Earlier, Wells Fargo upgraded the company from Underweight to Equal Weight on June 4, lifting its target price from $11 to $20. Analyst Stephen Baxter cited growing confidence in the ACA market, noting that enrollment and medical cost results have come in better than expected.
Underpinning the upgrades is Oscar Health's strong Q1 performance, with total revenue of $4.65 billion (up 53% YoY), net income of $679 million, and EPS of $2.07 versus consensus of $1.10. Membership reached 3.2 million, up 56% YoY. The company reaffirmed full-year revenue guidance of $18.7-$19.0 billion with significant margin expansion expected.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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