Oscar Health, Inc. (NYSE:OSCR) has seen a significant transaction from its Executive Vice President and Chief Legal Officer, Ranmali Bopitiya, according to the latest filings. Bopitiya sold a total of 17,615 shares of Class A Common Stock in a series of transactions on June 3 and June 4, 2024. The shares were sold at prices ranging from $19.09 to $19.46, with the total value of the sales amounting to $342,622.
The transactions were carried out under a pre-arranged 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading. According to the footnotes in the filing, the sales were executed to satisfy tax withholding obligations related to the vesting of previously granted equity awards.
On June 1, 2024, Bopitiya also acquired shares through the exercise of options, which did not involve any monetary transaction. These transactions included acquiring 20,425, 16,447, and 4,867 shares of Class A Common Stock, respectively. Post these transactions, Bopitiya's ownership in the company stood at 155,003 shares of Class A Common Stock.
The disclosed sales and acquisitions provide investors with insights into the actions of Oscar Health's executive team, particularly regarding their personal holdings in the company's stock. Investors often monitor such transactions as they may reflect the executives' confidence in the company's current status and future prospects.
Oscar Health, headquartered in New York, operates within the healthcare sector, offering medical plans and services. The company has undergone significant changes since its former name, Mulberry Health Inc., and continues to be a notable player in the industry.
InvestingPro Insights
As Oscar Health, Inc. (NYSE:OSCR) navigates through the healthcare market landscape, recent transactions by an executive member have caught the attention of investors. The company's financial and market performance metrics offer additional context to these insider movements. According to InvestingPro, Oscar Health's market capitalization stands at $4.48 billion USD, reflecting its size and investor valuation in the market. Despite a challenging profitability profile with a negative P/E ratio of -79.75, the company has shown a significant revenue growth of 45.77% in the last twelve months as of Q1 2024. This growth is a testament to the company's expanding operations and market reach.
InvestingPro Tips indicate that Oscar Health is expected to see net income growth this year, which could be a turning point for the company's profitability. Analysts also predict that Oscar Health will become profitable within the year, aligning with the positive revenue trends. Nonetheless, the company's stock price has been quite volatile, and it trades at a high Price / Book multiple of 4.41. While this could suggest a premium on the company's book value, it also highlights investor confidence in the company's assets and future growth potential.
For investors looking for a deeper dive into Oscar Health's financial health and stock performance, there are additional InvestingPro Tips available. With a total of 10 tips, including insights on gross profit margins and return metrics, a subscription to InvestingPro can provide valuable guidance. Interested readers can use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering an opportunity to leverage expert analysis and data for informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.