Oscar Health (NYSE:OSCR) Stock Price Down 7.6% After Insider Selling

Oscar Health, Inc. (NYSE:OSCR)’s stock price dropped 7.6% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $31.29 and last traded at $30.5120. Approximately 409,726 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 7,022,043 shares. The stock had previously closed at $33.01.

Specifically, Director Mario Schlosser sold 31,422 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $31.45, for a total value of $988,221.90. Following the completion of the sale, the director owned 449,444 shares in the company, valued at $14,135,013.80. This trade represents a 6.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. Also, insider Adam Mcananey sold 9,092 shares of the business’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total transaction of $285,943.40. Following the sale, the insider directly owned 209,004 shares in the company, valued at approximately $6,573,175.80. This represents a 4.17% decrease in their position. The SEC filing for this sale provides additional information. 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. In related news, CFO Richard Blackley sold 28,869 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $31.45, for a total value of $907,930.05. Following the sale, the chief financial officer owned 1,046,108 shares in the company, valued at $32,900,096.60. This represents a 2.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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.

Analyst Ratings Changes

Several research firms have recently issued reports on OSCR. Robert W. Baird set a $27.00 price target on Oscar Health in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 14th. Piper Sandler restated an “overweight” rating and set a $36.00 target price on shares of Oscar Health in a research report on Tuesday, July 28th. UBS Group upped their price target on shares of Oscar Health from $20.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company increased their price target on shares of Oscar Health from $20.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, Oscar Health currently has an average rating of “Hold” and an average price target of $26.22.

Oscar Health News Summary

Here are the key news stories impacting Oscar Health this week:

• Positive Sentiment: Oscar Health’s latest quarterly results were substantially better than expected: earnings per share were $1.10 versus the $0.40 consensus estimate, while revenue reached $4.88 billion, exceeding estimates of $4.73 billion. Revenue increased 70.4% year over year, and the company swung from a loss in the prior-year quarter to a profit. Analysts expect full-year EPS of approximately $1.54. Oscar Health stock and earnings information
• Positive Sentiment: Institutional ownership remains strong at approximately 75.7%, with several investors increasing their positions during the second quarter. The stock is also trading above both its 50-day and 200-day moving averages, signaling strong recent momentum.
• Neutral Sentiment: Multiple Oscar Health insiders sold shares at $31.45, including Director Mario Schlosser, CFO Richard Blackley, Adam Mcananey, Janet Liang and CAO Victoria Baltrus. The transactions totaled roughly $2.5 million, but each was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards. The insiders retained substantial positions, reducing the significance of the sales as a bearish signal. Oscar Health insider sale filings
• Negative Sentiment: Valuation and analyst expectations remain potential headwinds. OSCR’s consensus price target is $26.22, below its recent trading level near the 52-week high of $33.55, while the average analyst rating remains “Hold.”

Oscar Health Trading Down 5.9%

The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 22.04, a price-to-earnings-growth ratio of 0.66 and a beta of 2.37. The business has a 50 day moving average of $30.58 and a 200 day moving average of $23.01. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.21.

Oscar Health (NYSE:OSCR) last announced its earnings results on Thursday, August 6th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.70. Oscar Health had a net margin of 3.60% and a return on equity of 38.45%. The firm had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.73 billion. During the same quarter in the previous year, the company posted ($0.89) EPS. The firm’s revenue for the quarter was up 70.4% on a year-over-year basis. On average, research analysts forecast that Oscar Health, Inc. will post 1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Oscar Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Thrive Capital Management LLC increased its stake in Oscar Health by 33.4% in the fourth 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 during the last quarter. Baird Financial Group Inc. purchased a new stake in Oscar Health in the 1st quarter valued at about $159,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Oscar Health by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 215,650 shares of the company’s stock valued at $2,827,000 after buying an additional 8,879 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Oscar Health by 7,473.3% during the 1st quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock valued at $30,000 after acquiring an additional 2,242 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Oscar Health by 39.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 470,590 shares of the company’s stock valued at $6,169,000 after acquiring an additional 132,149 shares during the last quarter. Hedge funds and other institutional investors own 75.70% of the company’s stock.

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.