Oscar Health downgraded to Market Perform from Outperform at Raymond James

Raymond James downgraded Oscar Health (OSCR) to Market Perform from Outperform following the roughly 45% rally over the last week driven by some of the language changes to the ACA in the Senate reconciliation package as well as “some meme stock fervor online.” The firm thinks the risk/reward is more balanced at this point and that the policy and fundamental environment has gotten less constructive, creating “a tougher set up for the stock over the medium term,” the analyst tells investors. The firm thinks the market dynamics will be “tough to navigate over the next 12-18 months,” the analyst added.