Insider Selling: Oscar Health (NYSE:OSCR) CEO Sells $17,987,643.52 in Stock

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 sale, the chief executive officer directly owned 8,375,814 shares of the company’s stock, valued at $245,076,317.64. This represents a 6.84% decrease in their position. The transaction was disclosed in a 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.

Oscar Health Stock Down 0.3%

Shares of NYSE:OSCR opened at $32.09 on Friday. Oscar Health, Inc. has a 52-week low of $10.69 and a 52-week high of $33.10. The stock has a market cap of $9.67 billion, a P/E ratio of -54.38, a price-to-earnings-growth ratio of 2.25 and a beta of 2.34. The business’s 50 day moving average is $24.49 and its 200 day moving average is $17.87. 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 released its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.11 by $0.96. The company had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.90 billion. Oscar Health had a negative return on equity of 3.26% and a negative net margin of 0.30%.Oscar Health’s quarterly revenue was up 52.6% on a year-over-year basis. During the same period last year, the business posted $0.92 EPS. Sell-side analysts predict that Oscar Health, Inc. will post 0.47 EPS for the current year.

Institutional Investors Weigh In On Oscar Health

A number of hedge funds and other institutional investors have recently bought and sold shares of OSCR. 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 in the last quarter. Jones Financial Companies Lllp increased its position in shares of Oscar Health by 7,473.3% during the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company’s stock worth $30,000 after purchasing an additional 2,242 shares in the last quarter. Strs Ohio acquired a new position in shares of Oscar Health during the first quarter worth $30,000. Fifth Third Bancorp lifted its holdings in shares of Oscar Health by 148.7% during the 4th quarter. Fifth Third Bancorp now owns 2,363 shares of the company’s stock valued at $34,000 after purchasing an additional 1,413 shares during the last quarter. Finally, Binnacle Investments Inc purchased a new stake in shares of Oscar Health during the 2nd quarter valued at $75,000. Hedge funds and other institutional investors own 75.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on OSCR shares. Wells Fargo & Company set a $20.00 price target on Oscar Health and gave the company an “equal weight” rating in a research note on Thursday, June 4th. Wall Street Zen raised shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. Wolfe Research assumed coverage on shares of Oscar Health in a report on Tuesday, May 5th. They set a “peer perform” rating on the stock. UBS Group raised their target price on shares of Oscar Health from $15.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Barclays raised shares of Oscar Health from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $30.00 to $35.00 in a research report on Wednesday, June 10th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price 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.