Insider Selling: Oscar Health (NYSE:OSCR) CEO Sells 614,752 Shares

Oscar Health, Inc. (NYSE:OSCR) CEO Mark Bertolini sold 614,752 shares of Oscar Health stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $29.26, for a total transaction of $17,987,643.52. Following the completion of the sale, the chief executive officer owned 8,375,814 shares in the company, valued at $245,076,317.64. This trade represents a 6.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Oscar Health Stock Up 11.4%

OSCR traded up $3.27 during trading hours on Wednesday, hitting $31.79. 7,076,110 shares of the company’s stock were exchanged, compared to its average volume of 7,810,169. Oscar Health, Inc. has a 1-year low of $10.69 and a 1-year high of $32.06. The stock’s 50-day moving average is $23.56 and its two-hundred day moving average is $17.55. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of -53.87, a PEG ratio of 2.06 and a beta of 2.37. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.96. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the business earned $0.92 EPS. The company’s revenue was up 52.6% compared to the same quarter last year. Sell-side analysts predict that Oscar Health, Inc. will post 0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oscar Health

Institutional investors have recently bought and sold shares of the business. BIT Capital GmbH boosted its stake in Oscar Health by 545.0% in the 4th quarter. BIT Capital GmbH now owns 6,186,267 shares of the company’s stock valued at $88,897,000 after purchasing an additional 5,227,152 shares during the period. American Century Companies Inc. increased its position in Oscar Health by 89.0% during the 3rd quarter. American Century Companies Inc. now owns 5,298,340 shares of the company’s stock worth $100,298,000 after buying an additional 2,495,691 shares during the period. Farallon Capital Management LLC lifted its holdings in shares of Oscar Health by 146.5% during the third quarter. Farallon Capital Management LLC now owns 3,639,000 shares of the company’s stock worth $68,886,000 after buying an additional 2,163,000 shares in the last quarter. Morgan Stanley boosted its position in shares of Oscar Health by 42.8% in the fourth quarter. Morgan Stanley now owns 6,814,046 shares of the company’s stock valued at $97,918,000 after acquiring an additional 2,043,758 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Oscar Health by 205.1% in the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company’s stock valued at $32,808,000 after acquiring an additional 1,922,732 shares during the period. Institutional investors and hedge funds own 75.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on OSCR shares. Robert W. Baird upped their target price on Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Wolfe Research assumed coverage on Oscar Health in a research report on Tuesday, May 5th. They set a “peer perform” rating on the stock. Wall Street Zen upgraded Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. Barclays raised Oscar Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $35.00 in a report on Wednesday, June 10th. Finally, UBS Group boosted their target price on shares of Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.78.

About Oscar Health

Oscar Health, trading on the New York Stock Exchange under the ticker OSCR, is a technology-driven health insurance company headquartered in New York, New York. Founded in 2012 by Mario Schlosser, Joshua Kushner and Kevin Nazemi, the company was built with the goal of simplifying healthcare coverage and enhancing member experience. Oscar leverages a proprietary digital platform to streamline plan enrollment, claims administration and member support, distinguishing itself in the individual, family and small group insurance markets.

The company’s primary products include on-exchange individual and family medical plans under the Affordable Care Act, off-exchange plans, as well as Medicare Advantage offerings.