Richard Scott Blackley Sells 31,683 Shares of Oscar Health (NYSE:OSCR) Stock

Oscar Health, Inc. (NYSE:OSCR) CFO Richard Scott Blackley sold 31,683 shares of Oscar Health stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $21.94, for a total value of $695,125.02. Following the sale, the chief financial officer directly owned 1,074,977 shares in the company, valued at approximately $23,584,995.38. The trade was a 2.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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.

Richard Scott Blackley also recently made the following trade(s):

• On Thursday, May 14th, Richard Scott Blackley sold 100,000 shares of Oscar Health stock. The stock was sold at an average price of $23.16, for a total value of $2,316,000.00.

Oscar Health Stock Up 4.2%

Shares of NYSE OSCR opened at $24.59 on Friday. Oscar Health, Inc. has a 1 year low of $10.69 and a 1 year high of $25.58. The firm has a market cap of $7.41 billion, a price-to-earnings ratio of -41.68, a PEG ratio of 1.65 and a beta of 2.37. 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 stock’s 50-day simple moving average is $18.39 and its 200-day simple moving average is $16.06.

Oscar Health (NYSE:OSCR) last announced its earnings results 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. 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 period in the previous year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was up 52.6% compared to the same quarter last year. As a group, equities analysts anticipate that Oscar Health, Inc. will post 0.47 earnings per share for the current fiscal year.

Key Headlines Impacting Oscar Health

Here are the key news stories impacting Oscar Health this week:

• Positive Sentiment: Wells Fargo upgraded Oscar Health from “strong sell” to “hold”, easing bearish sentiment even though its $20 target remains below the current share price. Zacks.com
• Positive Sentiment: Oscar Health’s recent earnings showed a major EPS beat, which supports the stock’s fundamental story despite revenue coming in below estimates.
• Neutral Sentiment: A company co-founder shifting into an advisory leadership role looks like an internal reorganization rather than a disruptive change. Oscar Health Co-Founder Shifts to Advisory Leadership Role
• Neutral Sentiment: Multiple insiders, including CFO Richard Scott Blackley and CAO Victoria Baltrus, sold shares under pre-planned 10b5-1 programs to cover tax obligations on vested equity awards, which is less concerning than discretionary selling.
• Negative Sentiment: Director Mario Schlosser sold 34,120 shares, the largest insider sale in the latest batch, which may pressure sentiment even though it was pre-arranged.

Analyst Ratings Changes

OSCR has been the topic of a number of analyst reports. Wolfe Research initiated coverage on Oscar Health in a research report on Tuesday, May 5th. They set a “peer perform” rating on the stock. Raymond James Financial upgraded Oscar Health from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a research note on Thursday, February 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Oscar Health in a research note on Tuesday, April 21st. Wells Fargo & Company set a $20.00 price target on Oscar Health and gave the stock an “equal weight” rating in a research note on Thursday. Finally, Zacks Research upgraded Oscar Health from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.22.

Hedge Funds Weigh In On Oscar Health

A number of hedge funds and other institutional investors have recently bought and sold shares of OSCR. Bank of America Corp DE boosted its position 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 buying an additional 1,922,732 shares during the period. Arkadios Wealth Advisors boosted its position in shares of Oscar Health by 9.4% during the first quarter. Arkadios Wealth Advisors now owns 14,275 shares of the company’s stock worth $164,000 after buying an additional 1,228 shares during the period. Amundi acquired a new position in shares of Oscar Health during the first quarter worth approximately $362,000. California State Teachers Retirement System boosted its position in shares of Oscar Health by 23.3% during the first quarter. California State Teachers Retirement System now owns 235,443 shares of the company’s stock worth $2,701,000 after buying an additional 44,443 shares during the period. Finally, Royal Bank of Canada boosted its position in shares of Oscar Health by 73.4% during the first quarter. Royal Bank of Canada now owns 282,904 shares of the company’s stock worth $3,246,000 after buying an additional 119,714 shares during the period. 75.70% of the stock is currently owned by institutional investors and hedge funds.

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.