Why Shares of Oscar Health Soared This Week
Shares of Oscar Health (NYSE: OSCR) were up by 24% for the week by Friday at noon, according to data provided by S&P Global Market Intelligence. The tech-focused health insurer closed last week at $7.37, then rose to as high as $9.27 on Thursday. The company offers medical insurance and Medicare Advantage plans for individuals, families and small groups.
Oscar Health got a push as institutional buyers scooped up the stock, which is up 268% so far this year. Some of the key buyers included The Vanguard Group and Millennium Management LLC.
Bank of America Securities upgraded its position on Oscar to hold with a price target of $8.75, and Wells Fargo upgraded its target price to $8.50. Of the four analysts supplying 12-month price targets on the stock, the average was $7.04, with the high being $8.75 and the low being $3.90. Oscar blew past all of those estimates, however.
Source Fool.com
