Oscar Health, Inc. (NYSE:OSCR), which has seen its stock surge over 100% year-to-date and boasts a market capitalization of $4.45 billion, recently saw significant stock transactions by its Chief Operating Officer, Steven Wolin. According to a filing with the Securities and Exchange Commission, Wolin sold a total of 19,580 shares of Oscar Health's Class A Common Stock on December 2. The shares were sold at prices ranging from $18.07 to $18.48, resulting in a total transaction value of $353,955.
The sales were conducted under a pre-arranged trading plan to satisfy tax withholding obligations upon the vesting of previously granted equity awards. Following these transactions, Wolin holds 102,598 shares of Oscar Health's Class A Common Stock.
These transactions provide insight into the financial activities of the company's executive team as they manage their equity holdings in the company.
In other recent news, Oscar Health has reported a notable surge in its third-quarter revenue and membership. The health insurance provider announced a 68% year-over-year revenue growth, reaching $2.4 billion, and a matching 68% increase in membership, totaling approximately 1.65 million members. An improved year-to-date adjusted EBITDA of $312 million was also reported, culminating in a net profit of $179 million. In light of these recent developments, Oscar Health has raised its 2024 revenue guidance to between $9.2 billion and $9.3 billion and is targeting a 20% revenue compound annual growth rate (CAGR) and a 5% operating margin by 2027. The company also mentioned new products and market expansions, including a tech-first HMO and a return to the California market. Furthermore, Oscar Health anticipates double-digit growth in the ACA market, maintaining a 15% growth assumption for the next year. Detailed guidance for 2025 will be provided in the upcoming fourth-quarter earnings call.
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