Key Points
- Oscar Health CEO Mark Bertolini sold 591,168 shares on June 26 at an average price of $29.28, totaling about $17.3 million. The sale reduced his direct ownership by 6.17% and was made under a pre-arranged 10b5-1 plan to cover tax withholding tied to vesting equity awards.
- The company recently beat earnings expectations for the quarter, reporting $2.07 EPS versus the $1.11 consensus estimate. Revenue rose 52.6% year over year to $4.65 billion, though it fell short of analysts’ revenue forecast.
- Wall Street sentiment is mixed but cautious, with an average rating of “Hold” and a consensus price target of $20.78. Shares were trading near $29.37, close to their 52-week high of $30.66 and well above both the 50-day and 200-day moving averages.
Oscar Health, Inc. (NYSE:OSCR - Get Free Report) CEO Mark Bertolini sold 591,168 shares of the company's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $29.28, for a total transaction of $17,309,399.04. Following the completion of the sale, the chief executive officer directly owned 8,990,566 shares of the company's stock, valued at $263,243,772.48. The trade was a 6.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 Price Performance
Oscar Health stock opened at $29.37 on Tuesday. Oscar Health, Inc. has a 52 week low of $10.69 and a 52 week high of $30.66. The company's 50 day moving average price is $23.30 and its two-hundred day moving average price is $17.45. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26. The stock has a market cap of $8.85 billion, a P/E ratio of -49.78, a P/E/G ratio of 2.08 and a beta of 2.37.
Oscar Health (NYSE:OSCR - Get Free Report) last announced 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. The firm 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%.The company's revenue was up 52.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 EPS. On average, equities analysts predict that Oscar Health, Inc. will post 0.47 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on OSCR shares. Jefferies Financial Group upgraded Oscar Health from an "underperform" rating to a "hold" rating and upped their price objective for the company from $10.00 to $16.00 in a research note on Monday, April 20th. Zacks Research cut Oscar Health from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 5th. Wells Fargo & Company set a $20.00 price target on shares of Oscar Health and gave the stock an "equal weight" rating in a report on Thursday, June 4th. Robert W. Baird boosted their price target 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. Finally, 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. Three equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.78.
View Our Latest Stock Analysis on OSCR
Institutional Investors Weigh In On Oscar Health
A number of hedge funds have recently modified their holdings of the stock. Quarry LP lifted 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 purchasing an additional 1,469 shares during the last quarter. Jones Financial Companies Lllp increased its position in Oscar Health by 7,473.3% in the first quarter. Jones Financial Companies Lllp now owns 2,272 shares of the company's stock worth $30,000 after buying an additional 2,242 shares during the last quarter. Strs Ohio purchased a new stake in Oscar Health in the first quarter worth $30,000. Fifth Third Bancorp raised its stake in shares of 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 buying an additional 1,413 shares during the period. Finally, Binnacle Investments Inc bought a new stake in shares of Oscar Health in the second quarter valued at $75,000. Institutional investors own 75.70% of the company's stock.
Oscar Health Company Profile
(
Get Free Report)
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.
Further Reading
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