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

Oscar Health, Inc. (NYSE:OSCR) CEO Mark Bertolini sold 624,244 shares of the company’s stock in a transaction 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 sale, the chief executive officer owned 7,751,570 shares of the company’s stock, valued at approximately $220,764,713.60. This represents a 7.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 traded up $3.27 during midday trading on Wednesday, reaching $31.79. The company’s stock had a trading volume of 7,076,110 shares, compared to its average volume of 7,810,169. 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 price-to-earnings-growth ratio of 2.06 and a beta of 2.37. Oscar Health, Inc. has a 52 week low of $10.69 and a 52 week high of $32.06. The business has a 50-day moving average price of $23.56 and a 200-day moving average price of $17.55.

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on OSCR shares. 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. Barclays upgraded shares of Oscar Health from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $30.00 to $35.00 in a report on Wednesday, June 10th. Wolfe Research initiated coverage on Oscar Health in a research note on Tuesday, May 5th. They issued a “peer perform” rating for the company. Zacks Research downgraded Oscar Health from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Finally, Weiss Ratings lowered Oscar Health from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 24th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.78.

Institutional Investors Weigh In On Oscar Health

A number of institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp boosted its stake 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 worth $30,000 after acquiring an additional 2,242 shares in the last quarter. Strs Ohio bought a new stake in Oscar Health in the first quarter valued at $30,000. Fifth Third Bancorp raised its holdings in shares of Oscar Health by 148.7% during the fourth 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 period. Quarry LP raised its holdings in shares of Oscar Health by 439.8% during 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 period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Oscar Health during the 1st quarter worth about $49,000. 75.70% of the stock is owned by institutional investors.

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.