In a recent transaction, Alessandrea C. Quane, the Executive Vice President and Chief Insurance Officer of Oscar Health, Inc. (NYSE:OSCR), sold a portion of her company stock for a total value exceeding $286,000. The sale occurred on September 6, 2024, involving 16,793 shares of Class A common stock at a weighted average price of $17.06 per share. The transactions were executed in multiple parts with prices ranging from $16.68 to $17.48.
This sale was made in accordance with a Rule 10b5-1 trading plan, which was established prior to February 27, 2023. Such plans allow company insiders to sell shares over a predetermined period of time, reducing the potential for insider trading allegations by setting up the transactions well in advance.
On the buying side, Quane also acquired 31,250 shares of Class A common stock, which increased her direct ownership in the company to 409,400 shares. These shares were obtained through the vesting of restricted stock units (RSUs). The RSUs vested in a structured manner, with 25% initially vested on December 5, 2021, and the remainder vesting in equal quarterly installments.
It's also noted that Quane holds an indirect ownership interest in an additional 76,857 shares of Class A common stock through the Alessandrea C Quane 2024 GRAT, an estate planning vehicle.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, providing transparency into the trading activities of the company's executives. Oscar Health, headquartered in New York, operates within the hospital and medical service plans industry and is incorporated in Delaware.
In other recent news, Oscar Health Inc. has been the focus of recent developments, with Piper Sandler raising the company's stock target due to strong Q2 results. The company's Q2 revenue soared to $2.2 billion, marking a 46% increase year-over-year. Oscar Health's medical loss ratio improved, and adjusted EBITDA saw a significant rise. Consequently, Oscar Health has raised its full-year 2024 revenue and adjusted EBITDA guidance, attributing this to membership growth.
Piper Sandler's decision to increase Oscar Health's price target from $25.00 to $28.00 was based on the company's impressive performance in the second quarter of 2024. The firm has retained an Overweight rating on the stock, reflecting a more optimistic outlook for Oscar Health's financial trajectory in the coming year.
Oscar Health's recent developments underscore its financial strength and strategic initiatives aimed at long-term growth. The company's focus on expanding its market presence and capitalizing on the Individual Coverage Health Reimbursement Arrangement (ICRA) business is central to its long-term financial goals. Oscar Health's bullish outlook, backed by robust capital reserves and a clear strategic vision, indicates a confident path forward.
InvestingPro Insights
Amidst the recent insider trading activity at Oscar Health, Inc. (NYSE:OSCR), investors may find the latest data from InvestingPro insightful for a broader understanding of the company's financial health and market performance. As of the last twelve months leading up to Q2 2024, Oscar Health has shown a remarkable revenue growth of 45.16%, indicating a robust expansion of its business operations. This is further highlighted by the quarterly revenue growth of 45.86% for Q2 2024, suggesting that the company is maintaining its upward trajectory in the short term.
However, the financial strength of Oscar Health can be seen in its gross profit margin, which stands at 22.12%. While this may indicate some challenges in profitability, the company's operating income, though modest at $3.35 million, signals that it is managing to keep its operations in the green. Additionally, with an EBITDA growth of 109.42%, Oscar Health is showing signs of efficient earnings before interest, taxes, depreciation, and amortization, which could be of interest to potential investors.
From the perspective of market performance, Oscar Health's stock has experienced high volatility, as evidenced by the 163.41% return over the last year, which is a significant metric for investors looking for growth potential. In line with this, one of the InvestingPro Tips suggests that Oscar Health is trading at a high P/E ratio relative to near-term earnings growth, which could imply that the market has high expectations for the company's future earnings. Moreover, analysts predict the company will be profitable this year, a sentiment echoed by the stock's impressive year-to-date price total return of 85.68%.
For those interested in further insights, there are additional InvestingPro Tips available for Oscar Health, which can be accessed on the InvestingPro platform. These tips delve deeper into the company's financial metrics and market expectations, providing a comprehensive analysis for investors.
Investors can stay informed and gain a competitive edge by exploring the additional 9 InvestingPro Tips for Oscar Health at: https://www.investing.com/pro/OSCR.
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