Earlier, on December 1, Schlosser acquired 14,412 shares of Class A Common Stock through the exercise of restricted stock units. These units were acquired at no cost and were part of a previously established equity award. This acquisition increased his total holdings to 129,705 shares before the subsequent sales. According to InvestingPro data, Oscar Health is currently profitable with high earnings multiples, trading at a P/E ratio of 146, reflecting investor optimism about its growth prospects. According to InvestingPro data, Oscar Health is currently profitable with high earnings multiples, trading at a P/E ratio of 146, reflecting investor optimism about its growth prospects.
Earlier, on December 1, Schlosser acquired 14,412 shares of Class A Common Stock through the exercise of restricted stock units. These units were acquired at no cost and were part of a previously established equity award. This acquisition increased his total holdings to 129,705 shares before the subsequent sales.
In other recent news, Oscar Health has reported a significant surge in its Q3 2024 revenue and an increase in its membership. The health insurance provider's revenue grew by 68% year-over-year, reaching a substantial $2.4 billion. Membership also saw a matching 68% increase, now totaling approximately 1.65 million members. The company's net profit stood at $179 million, with an improved year-to-date adjusted EBITDA of $312 million. Oscar Health also announced a rise in its medical loss ratio to 84.6%. In light of these developments, the company has raised its 2024 revenue guidance to between $9.2 billion and $9.3 billion. It is also targeting a 20% revenue CAGR and a 5% operating margin by 2027. These are the latest developments in the company's growth trajectory.
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