Key Points
- Oscar Health CEO Mark Bertolini sold 624,244 shares on June 30 for about $17.78 million at an average price of $28.48. The sale was made under a pre-arranged 10b5-1 plan and to cover tax withholding tied to vested equity awards.
- The stock has been trading sharply higher, opening at $31.79 and up 11.4% on the day mentioned, near its 52-week high of $32.06. Oscar Health now has a market cap of about $9.58 billion.
- Recent earnings topped expectations, with Oscar Health reporting $2.07 EPS versus the $1.11 consensus estimate, while revenue rose 52.6% year over year to $4.65 billion. Analysts currently rate the stock a consensus Hold with an average price target of $20.78.
Oscar Health, Inc. (NYSE:OSCR - Get Free Report) CEO Mark Bertolini sold 624,244 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $28.48, for a total value of $17,778,469.12. Following the completion of the sale, the chief executive officer owned 7,751,570 shares in the company, valued at approximately $220,764,713.60. This represents a 7.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Trading Up 11.4%
Shares of OSCR opened at $31.79 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The stock has a market cap of $9.58 billion, a PE ratio of -53.87, a PEG ratio of 1.99 and a beta of 2.34. Oscar Health, Inc. has a 1 year low of $10.69 and a 1 year high of $32.06. The stock has a 50 day simple moving average of $23.86 and a 200-day simple moving average of $17.66.
Oscar Health (NYSE:OSCR - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, beating the consensus estimate 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 business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. Oscar Health's quarterly revenue was up 52.6% on a year-over-year basis. On average, sell-side analysts predict that Oscar Health, Inc. will post 0.47 EPS for the current fiscal year.
Hedge Funds Weigh In On Oscar Health
Several institutional investors have recently bought and sold shares of OSCR. Empowered Funds LLC acquired a new position in Oscar Health in the first quarter worth $6,234,000. Bank of America Corp DE grew its holdings in shares of Oscar Health by 205.1% during the first quarter. Bank of America Corp DE now owns 2,860,310 shares of the company's stock worth $32,808,000 after purchasing an additional 1,922,732 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Oscar Health by 9.4% in the first quarter. Arkadios Wealth Advisors now owns 14,275 shares of the company's stock valued at $164,000 after buying an additional 1,228 shares in the last quarter. Amundi acquired a new stake in shares of Oscar Health in the first quarter valued at $362,000. Finally, California State Teachers Retirement System raised its holdings in shares of Oscar Health by 23.3% in the first quarter. California State Teachers Retirement System now owns 235,443 shares of the company's stock valued at $2,701,000 after buying an additional 44,443 shares during the last quarter. Institutional investors own 75.70% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Oscar Health from $15.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. UBS Group increased their target price on shares of Oscar Health from $15.00 to $20.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Zacks Research downgraded shares of Oscar Health from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. 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, 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 research 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.78.
View Our Latest Research Report on Oscar Health
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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