Oscar Health, Inc. (NYSE:OSCR), a healthcare company with a market capitalization of $4.09 billion, saw its Chief Financial Officer Richard Scott Blackley recently sell shares of the company, according to a filing with the Securities and Exchange Commission. On December 6, Blackley sold a total of 29,939 shares of Oscar Health's Class A Common Stock. The shares were sold at prices ranging from $15.93 to $16.52 per share, generating a total value of approximately $483,667. The stock, currently trading at $16.55, has shown remarkable performance with a 93.67% gain over the past year, though it recently experienced a 15.3% decline in the past week. According to InvestingPro analysis, which offers 13 additional investment tips for Oscar Health, the company maintains a GOOD overall financial health score.
The transactions were conducted under a Rule 10b5-1 plan, which allows insiders to set up a predetermined plan to sell shares. Following these sales, Blackley holds 914,402 shares of Oscar Health. Prior to these sales, on December 5, he acquired 62,500 shares through the vesting of restricted stock units, which were previously granted as part of his compensation package. For detailed insights into Oscar Health's valuation and comprehensive analysis, investors can access the full Pro Research Report available on InvestingPro.
In other recent news, Oscar Health has reported a significant surge in its Q3 2024 revenue and profits. The health insurance provider saw a 68% year-over-year increase in both revenue and membership, with the former reaching $2.4 billion and the latter totaling approximately 1.65 million members. The company's medical loss ratio also rose to 84.6%, while its year-to-date adjusted EBITDA improved to $312 million, leading to a net profit of $179 million. Oscar Health has revised its 2024 revenue guidance upwards to between $9.2 billion and $9.3 billion, and is aiming for a 20% revenue CAGR and a 5% operating margin by 2027. These recent developments suggest that Oscar Health is focusing on sustainable growth and profitability, with an optimistic outlook for significant margin expansion by 2025, driven by disciplined pricing and cost-saving initiatives. However, the company acknowledges potential challenges, including an expected deceleration in SEP members growth in the fourth quarter and potential downward pressure from CMS's program integrity efforts on ACA market growth. Despite these, Oscar Health remains confident in achieving a 15% growth assumption for the ACA market next year.
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