Insider Selling: Oscar Health (NYSE:OSCR) CEO Sells $17,599,212.62 in Stock

Oscar Health, Inc. (NYSE:OSCR) CEO Mark Bertolini sold 615,142 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $28.61, for a total transaction of $17,599,212.62. Following the transaction, the chief executive officer owned 9,581,734 shares in the company, valued at $274,133,409.74. This represents a 6.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Price Performance

Shares of NYSE:OSCR opened at $31.79 on Thursday. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of -53.87, a PEG ratio of 1.99 and a beta of 2.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.11 and a quick ratio of 1.11. Oscar Health, Inc. has a 12 month low of $10.69 and a 12 month high of $32.06. The stock’s 50 day moving average price is $23.86 and its 200 day moving average price is $17.66.

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 analysts’ consensus estimates of $1.11 by $0.96. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.The firm had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the company posted $0.92 EPS. The firm’s quarterly revenue was up 52.6% on a year-over-year basis. Equities research analysts anticipate that Oscar Health, Inc. will post 0.47 earnings per share for the current fiscal year.

Analysts Set New Price Targets

OSCR has been the topic of a number of research analyst reports. UBS Group lifted their target price on Oscar Health from $15.00 to $20.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Wells Fargo & Company set a $20.00 price target on shares of Oscar Health and gave the company an “equal weight” rating in a report on Thursday, June 4th. Wall Street Zen upgraded shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 14th. Barclays upgraded shares of Oscar Health from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $30.00 to $35.00 in a research report on Wednesday, June 10th. Finally, Robert W. Baird lifted their price objective on shares of Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.78.

Hedge Funds Weigh In On Oscar Health

A number of hedge funds have recently modified their holdings of OSCR. Empowered Funds LLC acquired a new stake in shares of Oscar Health during the first quarter worth $6,234,000. Bank of America Corp DE boosted its position in shares of Oscar Health by 205.1% in the 1st quarter. Bank of America Corp DE now owns 2,860,310 shares of the company’s stock valued at $32,808,000 after purchasing an additional 1,922,732 shares during the period. Arkadios Wealth Advisors increased its stake in Oscar Health by 9.4% in the 1st quarter. Arkadios Wealth Advisors now owns 14,275 shares of the company’s stock worth $164,000 after purchasing an additional 1,228 shares in the last quarter. Amundi purchased a new position in Oscar Health in the 1st quarter worth about $362,000. Finally, California State Teachers Retirement System increased its stake in Oscar Health by 23.3% in the 1st quarter. California State Teachers Retirement System now owns 235,443 shares of the company’s stock worth $2,701,000 after purchasing an additional 44,443 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

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.