Joshua Kushner, Co-Founder and Vice Chairman of Oscar Health Inc. (NYSE:OSCR), recently acquired a significant amount of the company's Class A Common Stock, according to a recent SEC filing. The transactions, dated November 14, involved the purchase of a total of 344,522 shares, with prices ranging from $15.6124 to $15.9651 per share. The total value of these acquisitions amounted to approximately $5.44 million.
The shares were purchased through Thrive Capital Partners (WA:CPAP) VII Growth, L.P., and Claremount VII Associates, L.P., entities affiliated with Kushner. Following these transactions, Kushner, through these entities, holds a substantial number of shares in Oscar Health, reinforcing his commitment to the company he helped establish.
In other recent news, Oscar Health reported a substantial surge in its third-quarter revenue and membership during its latest earnings call. The health insurance provider announced a 68% year-over-year growth in revenue, reaching $2.4 billion, alongside a similar 68% increase in membership, totaling approximately 1.65 million members. The company also reported a rise in its medical loss ratio to 84.6% and an improved year-to-date adjusted EBITDA of $312 million, resulting in a net profit of $179 million. Oscar Health has revised its 2024 revenue guidance to between $9.2 billion and $9.3 billion, aiming for a 20% revenue CAGR and a 5% operating margin by 2027. These recent developments indicate a strong financial position for the company and its commitment to sustainable growth and profitability. The company's focus on technology-driven healthcare offerings, strategic pricing, and market expansions, including a return to the California market, are expected to contribute to its ambitious growth targets. Analysts from various firms have noted the company's performance and future expectations, highlighting the company's stable competitive environment and potential for significant margin expansion by 2025.
InvestingPro Insights
Joshua Kushner's recent $5.44 million investment in Oscar Health Inc. (NYSE:OSCR) aligns with several promising indicators from InvestingPro. The company's stock has shown significant momentum, with InvestingPro data revealing a remarkable 95.4% price total return over the past year. This strong performance is complemented by an InvestingPro Tip highlighting the company's expected net income growth this year.
Despite the recent positive trajectory, investors should note that OSCR's stock price has fallen significantly over the last three months, dropping by 20.48%. This volatility is consistent with another InvestingPro Tip, which indicates that the stock generally trades with high price volatility.
From a financial perspective, Oscar Health's revenue growth is impressive, with InvestingPro data showing a 51.1% increase in the last twelve months as of Q3 2024. However, the company's P/E ratio of 130.33 suggests it's trading at a high earnings multiple, which potential investors should consider.
For those seeking a more comprehensive analysis, InvestingPro offers 13 additional tips for Oscar Health, providing a deeper understanding of the company's financial health and market position. These insights can be particularly valuable given the complex nature of the healthcare insurance industry and OSCR's recent stock performance.
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