Oscar Health CFO sells over $2.3 million in company stock

Oscar Health, Inc. (NYSE:OSCR) reported that its Chief Financial Officer, Richard Scott Blackley, has sold a significant amount of company stock. According to the latest filings, Blackley sold shares worth over $2.3 million in a series of transactions.

The transactions, which took place on September 3rd and 4th, saw the CFO selling a total of 131,859 shares of Class A Common Stock at weighted average prices ranging from $17.46 to $17.99. The sales were executed in multiple transactions at varying prices, with the highest sales reaching up to $18.40 and the lowest at $16.63.

These sales were reportedly made to satisfy the executive's tax withholding obligations related to the vesting of previously granted equity awards. The filings indicate that these sales were planned in advance through a Rule 10b5-1 trading plan, which was established prior to February 27, 2023.

In addition to the sales, the CFO also acquired shares through the vesting of restricted stock units (RSUs). However, the total monetary value for these "M" transactions was reported as $0, since RSUs represent a contingent right to receive shares at no cost upon vesting.

Following these sales and acquisitions, the CFO still holds a substantial number of shares in the company, maintaining a strong stake in Oscar Health's performance.

Investors and followers of Oscar Health will likely monitor insider transactions such as these for insights into executive sentiment and potential future stock performance.

In other recent news, Oscar Health has been making impressive strides in its financial performance. The company's second quarter results highlighted a substantial year-over-year revenue growth of 46%, reaching a total of $2.2 billion. This strong performance prompted the firm to raise its full-year 2024 revenue and adjusted EBITDA guidance. Specifically, Oscar Health increased its revenue guidance for 2024 by 8.4% and adjusted EBITDA by 23.3%.

This positive financial trajectory led Piper Sandler to raise Oscar Health's stock target from $25.00 to $28.00, maintaining an Overweight rating. The revised price target reflects a steady 15x multiple of the higher projected adjusted EBITDA for 2025, indicating a more optimistic outlook for the company's financial future.

In addition to these financial developments, Oscar Health is also focusing on strategic growth through the Individual Coverage Health Reimbursement Arrangement (ICRA) business. Despite an expected increase in the medical loss ratio for the full year, the company remains optimistic about achieving total company adjusted EBITDA profitability this year. These recent developments underline Oscar Health's commitment to innovation and growth in the health insurance sector.

InvestingPro Insights

Oscar Health, Inc. (NYSE:OSCR) has captured the attention of investors following the CFO's recent stock transactions. To provide a broader perspective on the company's financial health and market position, we turn to data and insights from InvestingPro.

InvestingPro Data reveals that Oscar Health currently has a market capitalization of around $4.22 billion. The company's P/E ratio stands at 221.65, indicating a high valuation compared to earnings. However, this valuation metric should be considered in the context of the company's recent revenue growth, which was reported at 45.16% over the last twelve months as of Q2 2024. This growth is substantial and could justify a higher earnings multiple to some extent.

Amidst these figures, two InvestingPro Tips offer additional insight. Firstly, analysts predict Oscar Health will be profitable this year, a significant turnaround that could influence investor sentiment positively. Secondly, the stock has experienced a large price uptick over the last six months, with a 25.38% total return, reflecting growing investor confidence or speculative interest in the company's future.

For a deeper dive into Oscar Health's financials and to access additional InvestingPro Tips, investors can visit https://www.investing.com/pro/OSCR. Currently, there are 11 more tips available that could provide a more nuanced understanding of the company's prospects.

The recent insider transactions, coupled with Oscar Health's market data and the InvestingPro Tips, suggest a dynamic picture of the company's current standing and future potential. Investors may consider these insights when evaluating the implications of the CFO's stock sales and the overall investment opportunity presented by Oscar Health.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.