Insider Selling: Oscar Health (NYSE:OSCR) CEO Sells $17,309,399.04 in Stock

Oscar Health, Inc. (NYSE:OSCR) CEO Mark Bertolini sold 591,168 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $29.28, for a total value of $17,309,399.04. Following the completion of the sale, the chief executive officer owned 8,990,566 shares of the company’s stock, valued at $263,243,772.48. This represents a 6.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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

Shares of NYSE:OSCR opened at $31.79 on Thursday. The firm has a market capitalization of $9.58 billion, a PE ratio of -53.87, a PEG ratio of 1.99 and a beta of 2.34. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. Oscar Health, Inc. has a 1-year low of $10.69 and a 1-year high of $32.06. The business’s 50 day moving average is $23.86 and its 200-day moving average is $17.66.

Oscar Health (NYSE:OSCR) last issued its earnings results on Wednesday, May 6th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.96. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates 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 revenue was up 52.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.92 earnings per share. Sell-side analysts predict that Oscar Health, Inc. will post 0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of OSCR. Empowered Funds LLC acquired a new position in Oscar Health during the first quarter worth $6,234,000. Bank of America Corp DE boosted its stake in shares of Oscar Health by 205.1% in the 1st quarter. Bank of America Corp DE now owns 2,860,310 shares of the company’s stock valued at $32,808,000 after purchasing an additional 1,922,732 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Oscar Health by 9.4% in the 1st quarter. Arkadios Wealth Advisors now owns 14,275 shares of the company’s stock worth $164,000 after purchasing an additional 1,228 shares during the last quarter. Amundi acquired a new stake in shares of Oscar Health during the 1st quarter worth about $362,000. Finally, California State Teachers Retirement System increased its position in shares of Oscar Health by 23.3% during the 1st quarter. California State Teachers Retirement System now owns 235,443 shares of the company’s stock worth $2,701,000 after purchasing an additional 44,443 shares in the last quarter. 75.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

OSCR has been the subject of a number of recent research reports. Barclays upgraded shares of Oscar Health from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $30.00 to $35.00 in a research note on Wednesday, June 10th. Weiss Ratings cut shares of Oscar Health from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Oscar Health from a “buy” rating to a “strong-buy” rating in a research report on Sunday, June 14th. Zacks Research cut shares of Oscar Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. Finally, Wells Fargo & Company set a $20.00 price objective on Oscar Health and gave the company an “equal weight” rating in a report on Thursday, June 4th. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Oscar Health 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.