Oscar Health (NYSE:OSCR) CEO Mark Bertolini Sells 614,752 Shares of Stock

Oscar Health, Inc. (NYSE:OSCR) CEO Mark Bertolini sold 614,752 shares of Oscar Health stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.26, for a total value of $17,987,643.52. Following the completion of the sale, the chief executive officer owned 8,375,814 shares in the company, valued at $245,076,317.64. This represents a 6.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 Stock Performance

Shares of Oscar Health stock opened at $31.79 on Thursday. The firm has a market cap of $9.58 billion, a PE ratio of -53.87, a price-to-earnings-growth ratio of 1.99 and a beta of 2.34. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.26. Oscar Health, Inc. has a 52 week low of $10.69 and a 52 week high of $32.06. The business’s fifty day simple moving average is $23.86 and its 200-day simple moving average is $17.66.

Oscar Health (NYSE:OSCR) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.96. The firm had revenue of $4.65 billion during 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 quarterly revenue was up 52.6% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. Equities analysts forecast that Oscar Health, Inc. will post 0.47 earnings per share for the current year.

Hedge Funds Weigh In On Oscar Health

Institutional investors have recently bought and sold shares of the company. Empowered Funds LLC purchased a new stake in Oscar Health during the first quarter worth about $6,234,000. Bank of America Corp DE boosted its stake in shares of Oscar Health by 205.1% in the first 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 during the period. Arkadios Wealth Advisors boosted 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 purchasing an additional 1,228 shares during the period. Amundi acquired a new position in shares of Oscar Health in the first quarter valued at approximately $362,000. Finally, California State Teachers Retirement System grew 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 in the last quarter. 75.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on OSCR shares. Zacks Research downgraded shares of Oscar Health from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. UBS Group increased their price objective 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. Wells Fargo & Company set a $20.00 target price on shares of Oscar Health and gave the company an “equal weight” rating in a report on Thursday, June 4th. Weiss Ratings lowered Oscar Health from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Oscar Health from a “buy” rating to a “strong-buy” rating in a research note on Sunday, June 14th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Oscar Health presently has a consensus rating of “Hold” and an average price target of $20.78.

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.