Insider Selling: Oscar Health (NYSE:OSCR) CEO Sells $17,778,469.12 in Stock

Oscar Health, Inc. (NYSE:OSCR) CEO Mark Bertolini sold 624,244 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $28.48, for a total transaction of $17,778,469.12. Following the sale, the chief executive officer directly owned 7,751,570 shares in the company, valued at $220,764,713.60. This trade represents a 7.45% 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 Stock Down 0.3%

OSCR stock opened at $32.09 on Friday. The firm has a market cap of $9.67 billion, a PE ratio of -54.38, a P/E/G ratio of 2.25 and a beta of 2.34. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s fifty day moving average is $24.49 and its 200 day moving average is $17.87. Oscar Health, Inc. has a one year low of $10.69 and a one year high of $33.10.

Oscar Health (NYSE:OSCR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.96. The company had revenue of $4.65 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Oscar Health had a negative net margin of 0.30% and a negative return on equity of 3.26%. The firm’s revenue for the quarter was up 52.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.92 earnings per share. On average, research analysts forecast that Oscar Health, Inc. will post 0.47 EPS for the current year.

Institutional Trading of Oscar Health

A number of hedge funds have recently bought and sold shares of OSCR. Empowered Funds LLC purchased a new position in Oscar Health in the 1st quarter worth approximately $6,234,000. Bank of America Corp DE boosted its holdings in shares of Oscar Health by 205.1% during the 1st 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 grew its position 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 purchasing an additional 1,228 shares in the last quarter. Amundi purchased a new stake in shares of Oscar Health in the first quarter valued at approximately $362,000. Finally, California State Teachers Retirement System increased 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 purchasing an additional 44,443 shares during the last quarter. Institutional investors and hedge funds own 75.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OSCR shares. Weiss Ratings lowered Oscar Health from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 24th. Wells Fargo & Company set a $20.00 price target on Oscar Health and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Robert W. Baird raised their price objective on Oscar Health from $15.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. UBS Group boosted their price objective on Oscar Health from $15.00 to $20.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen raised Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. Three investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.