Oscar Health (NYSE:OSCR) CEO Mark Bertolini Sells 624,244 Shares

Oscar Health, Inc. (NYSE:OSCR) CEO Mark Bertolini sold 624,244 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total value of $17,778,469.12. Following the completion of the transaction, the chief executive officer owned 7,751,570 shares in the company, valued at approximately $220,764,713.60. The trade was a 7.45% decrease in their position. The sale was disclosed in a filing with the SEC, 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.

Oscar Health Stock Up 11.4%

Oscar Health stock traded up $3.27 during mid-day trading on Wednesday, reaching $31.79. The stock had a trading volume of 7,076,110 shares, compared to its average volume of 7,810,169. The firm has a market capitalization of $9.58 billion, a PE ratio of -53.87, a price-to-earnings-growth ratio of 2.06 and a beta of 2.37. Oscar Health, Inc. has a fifty-two week low of $10.69 and a fifty-two week high of $32.06. The stock’s 50-day simple moving average is $23.56 and its 200-day simple moving average is $17.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11.

Oscar Health (NYSE:OSCR) last issued its earnings results on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, topping 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 company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the firm earned $0.92 earnings per share. Oscar Health’s revenue for the quarter was up 52.6% on a year-over-year basis. On average, sell-side analysts forecast that Oscar Health, Inc. will post 0.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Oscar Health

Large investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp grew its position in Oscar Health by 7,473.3% during the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock valued at $30,000 after buying an additional 2,242 shares during the period. Strs Ohio bought a new stake in Oscar Health in the first quarter worth about $30,000. Fifth Third Bancorp boosted its stake in Oscar Health by 148.7% in the fourth quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock valued at $34,000 after acquiring an additional 1,413 shares during the last quarter. Quarry LP boosted its stake in Oscar Health by 439.8% in the third quarter. Quarry LP now owns 1,803 shares of the company’s stock valued at $34,000 after acquiring an additional 1,469 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Oscar Health during the 1st quarter valued at approximately $49,000. 75.70% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OSCR. Robert W. Baird upped their price objective on shares of Oscar Health from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings downgraded shares of Oscar Health from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 24th. Barclays upgraded shares of Oscar Health from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $30.00 to $35.00 in a report on Wednesday, June 10th. Wolfe Research assumed coverage on shares of Oscar Health in a research report on Tuesday, May 5th. They issued a “peer perform” rating on the stock. Finally, Jefferies Financial Group upgraded Oscar Health from an “underperform” rating to a “hold” rating and lifted their price target for the company from $10.00 to $16.00 in a research note on Monday, April 20th. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.78.

Oscar Health Company Profile

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.