Oscar Health (OSCR)


Market Price (9/8/2026): $32.95 | Market Cap: $10.0 BilSector: Health Care | Industry: Managed Health Care

Oscar Health (OSCR)


Market Price (9/8/2026): $32.95
Market Cap: $10.0 Bil
Sector: Health Care
Industry: Managed Health Care

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.7%, FCF Yield is 45%

Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -83%

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 43%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29%, CFO LTM is 4.4 Bil, FCF LTM is 4.4 Bil

Megatrend and thematic drivers
Megatrends include Digital Health & Telemedicine. Themes include Telehealth Platforms, Health Data Analytics, and AI in Healthcare Management.

Trading close to highs
Dist 52W High is -1.6%, Dist 3Y High is -1.6%

Stock price has recently run up significantly
6M Rtn6 month market price return is 131%

Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 147%

Key risks
OSCR key risks include [1] its ongoing challenge to achieve sustained profitability and manage costs and [2] its ability to successfully execute its growth strategy, Show more.

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.7%, FCF Yield is 45%
1 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -83%
2 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 43%
3 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 29%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29%, CFO LTM is 4.4 Bil, FCF LTM is 4.4 Bil
4 Megatrend and thematic drivers
Megatrends include Digital Health & Telemedicine. Themes include Telehealth Platforms, Health Data Analytics, and AI in Healthcare Management.
5 Trading close to highs
Dist 52W High is -1.6%, Dist 3Y High is -1.6%
6 Stock price has recently run up significantly
6M Rtn6 month market price return is 131%
7 Valuation getting more expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 147%
8 Key risks
OSCR key risks include [1] its ongoing challenge to achieve sustained profitability and manage costs and [2] its ability to successfully execute its growth strategy, Show more.

OSCR in ETFs

Weight = OSCR's share of each fund

VTI0.01%
ITOT0.01%
IWM0.23%
VB0.09%
AVUV0.68%
IWO0.49%
VTWO0.24%
VBK0.22%
+7 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 9/3/2026

Oscar Health (OSCR) stock has gained about 45% since 5/31/2026 because of the following key factors:

1. Oscar Health reported exceptionally strong financial results for fiscal Q2 2026 (ended June 30, 2026), significantly exceeding analyst expectations and swinging to net profitability. The company posted an actual diluted EPS of $1.10, dramatically surpassing analyst estimates of $0.32 to $0.40, representing an earnings beat of over 175% to 243%. This performance marked a substantial turnaround from a net loss of $0.89 diluted EPS in fiscal Q2 2025.

2. The company demonstrated significant improvements in operational efficiency, notably through a lower Medical Loss Ratio (MLR) and reduced Selling, General, and Administrative (SG&A) expense ratio in fiscal Q2 2026. The MLR improved to 79.2% from 91.1% in the prior year's comparable quarter, primarily driven by disciplined pricing strategies and $164 million of favorable prior-period reserve development. Concurrently, the SG&A expense ratio decreased from 18.7% to 14.2% year-over-year.

Show more
Updated on 9/3/2026

Oscar Health (OSCR) stock has gained about 45% since 5/31/2026 because of the following key factors:

1. Oscar Health reported exceptionally strong financial results for fiscal Q2 2026 (ended June 30, 2026), significantly exceeding analyst expectations and swinging to net profitability. The company posted an actual diluted EPS of $1.10, dramatically surpassing analyst estimates of $0.32 to $0.40, representing an earnings beat of over 175% to 243%. This performance marked a substantial turnaround from a net loss of $0.89 diluted EPS in fiscal Q2 2025.

2. The company demonstrated significant improvements in operational efficiency, notably through a lower Medical Loss Ratio (MLR) and reduced Selling, General, and Administrative (SG&A) expense ratio in fiscal Q2 2026. The MLR improved to 79.2% from 91.1% in the prior year's comparable quarter, primarily driven by disciplined pricing strategies and $164 million of favorable prior-period reserve development. Concurrently, the SG&A expense ratio decreased from 18.7% to 14.2% year-over-year.

3. Oscar Health experienced robust membership growth, with effectuated membership increasing by approximately 46.2% year-over-year to 2,963,002 members as of June 30, 2026. This expansion was a key driver for the 70.4% year-over-year increase in total revenue to $4.88 billion in fiscal Q2 2026, surpassing analyst estimates of $4.73 billion.

4. Management raised its full-year 2026 operating earnings guidance, signaling increased confidence in the company's sustained performance and future trajectory. The revised guidance for full-year 2026 operating earnings was lifted to a range of $500 million to $700 million, up from the previous range of $250 million to $450 million.

5. Several financial analysts responded positively to Oscar Health's performance by issuing upgrades and raising their price targets for the stock. Notably, Wall Street Zen and Zacks Research upgraded Oscar Health to a "strong-buy" rating in June and July 2026, respectively. Barclays upgraded the stock to "Overweight" in June 2026, raising its price target from $30.00 to $35.00, while Wells Fargo & Company increased its price target from $20.00 to $27.00 in August 2026.

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Stock Movement Drivers

Fundamental Drivers

The 45.1% change in OSCR stock from 5/31/2026 to 9/7/2026 was primarily driven by a 27.7% change in the company's P/S Multiple.
(LTM values as of)53120269072026Change
Stock Price ($)22.2332.2545.1%
Change Contribution By: 
Total Revenues ($ Mil)13,30215,31915.2%
P/S Multiple0.50.627.7%
Shares Outstanding (Mil)298302-1.3%
Cumulative Contribution45.1%

LTM = Last Twelve Months as of date shown

Market Drivers

5/31/2026 to 9/7/2026
ReturnCorrelation
OSCR45.1% 
Market (SPY)1.8%7.8%
Sector (XLV)14.7%29.8%

Fundamental Drivers

The 136.4% change in OSCR stock from 2/28/2026 to 9/7/2026 was primarily driven by a 92.7% change in the company's P/S Multiple.
(LTM values as of)22820269072026Change
Stock Price ($)13.6432.25136.4%
Change Contribution By: 
Total Revenues ($ Mil)11,70115,31930.9%
P/S Multiple0.30.692.7%
Shares Outstanding (Mil)283302-6.3%
Cumulative Contribution136.4%

LTM = Last Twelve Months as of date shown

Market Drivers

2/28/2026 to 9/7/2026
ReturnCorrelation
OSCR136.4% 
Market (SPY)12.6%26.8%
Sector (XLV)7.5%33.2%

Fundamental Drivers

The 93.6% change in OSCR stock from 8/31/2025 to 9/7/2026 was primarily driven by a 60.3% change in the company's P/S Multiple.
(LTM values as of)83120259072026Change
Stock Price ($)16.6632.2593.6%
Change Contribution By: 
Total Revenues ($ Mil)10,72715,31942.8%
P/S Multiple0.40.660.3%
Shares Outstanding (Mil)256302-15.4%
Cumulative Contribution93.6%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2025 to 9/7/2026
ReturnCorrelation
OSCR93.6% 
Market (SPY)20.4%27.1%
Sector (XLV)26.4%19.8%

Fundamental Drivers

The 414.4% change in OSCR stock from 8/31/2023 to 9/7/2026 was primarily driven by a 203.5% change in the company's Total Revenues ($ Mil).
(LTM values as of)83120239072026Change
Stock Price ($)6.2732.25414.4%
Change Contribution By: 
Total Revenues ($ Mil)5,04815,319203.5%
P/S Multiple0.30.6133.5%
Shares Outstanding (Mil)219302-27.4%
Cumulative Contribution414.4%

LTM = Last Twelve Months as of date shown

Market Drivers

8/31/2023 to 9/7/2026
ReturnCorrelation
OSCR414.4% 
Market (SPY)77.1%25.3%
Sector (XLV)34.7%21.6%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
OSCR Return-77%-69%272%47%7%124%-7%
Peers Return38%7%-3%-21%-21%37%22%
S&P 500 Return27%-19%24%23%16%13%106%

Monthly Win Rates [3]
OSCR Win Rate20%33%67%67%42%56% 
Peers Win Rate57%52%47%45%52%58% 
S&P 500 Win Rate75%42%67%75%67%56% 

Max Drawdowns [4]
OSCR Max Drawdown--79%-50%-43%-42%-39% 
Peers Max Drawdown-16%-21%-20%-34%-50%-34% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: UNH, HUM, CNC, MOH, ELV.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/4/2026 (YTD)

How Low Can It Go

EventOSCRS&P 500
2025 US Tariff Shock
  % Loss-27.5%-18.8%
  % Gain to Breakeven37.8%23.1%
  Time to Breakeven15 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-39.3%-9.5%
  % Gain to Breakeven64.7%10.5%
  Time to Breakeven25 days24 days
2023 SVB Regional Banking Crisis
  % Loss-36.5%-6.7%
  % Gain to Breakeven57.4%7.1%
  Time to Breakeven4 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-57.6%-24.5%
  % Gain to Breakeven135.7%32.4%
  Time to Breakeven224 days427 days

Compare to UNH, HUM, CNC, MOH, ELV

In The Past

Oscar Health's stock fell -27.5% during the 2025 US Tariff Shock. Such a loss loss requires a 37.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventOSCRS&P 500
2025 US Tariff Shock
  % Loss-27.5%-18.8%
  % Gain to Breakeven37.8%23.1%
  Time to Breakeven15 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-39.3%-9.5%
  % Gain to Breakeven64.7%10.5%
  Time to Breakeven25 days24 days
2023 SVB Regional Banking Crisis
  % Loss-36.5%-6.7%
  % Gain to Breakeven57.4%7.1%
  Time to Breakeven4 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-57.6%-24.5%
  % Gain to Breakeven135.7%32.4%
  Time to Breakeven224 days427 days

Compare to UNH, HUM, CNC, MOH, ELV

In The Past

Oscar Health's stock fell -27.5% during the 2025 US Tariff Shock. Such a loss loss requires a 37.8% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Oscar Health (OSCR)

Oscar Health, Inc. (OSCR) is a U.S.-based health insurance provider focused on offering a range of health insurance plans and related services. The company's primary offerings include health coverage for individuals and families through its Individual & Family plans, as well as Small Group plans designed for small businesses and their employees. Additionally, Oscar Health provides Medicare Advantage plans, catering to seniors and other eligible beneficiaries in the Medicare market.

Beyond its insurance products, Oscar Health distinguishes itself with +Oscar, a proprietary technology platform. This platform is utilized by healthcare providers and other payor clients to improve member and patient engagement, reflecting the company's tech-driven approach to healthcare. Oscar Health also diversifies its offerings by providing reinsurance products. Together, these services position Oscar Health as a multifaceted player in the U.S. health insurance and health technology landscape, serving a broad spectrum of consumers and industry clients.

AI Analysis | Feedback

Here are 1-3 brief analogies to describe Oscar Health:

  • Like a Lemonade for health insurance.
  • A tech-driven UnitedHealth Group.

AI Analysis | Feedback

  • Individual & Family Health Insurance Plans: These plans offer health insurance coverage tailored for individuals and families in the United States.
  • Small Group Health Insurance Plans: Oscar Health provides health insurance solutions specifically designed for small businesses and their employees.
  • Medicare Advantage Plans: The company offers Medicare Advantage plans, which are health insurance options for eligible seniors as an alternative to original Medicare.
  • +Oscar Platform: This is a technology-driven platform designed to help healthcare providers and payor clients engage more effectively with their members and patients.
  • Reinsurance Products: Oscar Health also offers reinsurance products, which provide financial protection to other insurance companies against large or numerous claims.

AI Analysis | Feedback

Oscar Health's Major Customers

Oscar Health primarily serves individuals and small businesses, providing health insurance plans tailored to different segments of the population. Based on its core offerings, its major customer categories include:

  • Individual Consumers and Families: Individuals who directly purchase health insurance plans for themselves and their families, often through the Affordable Care Act (ACA) marketplace.
  • Seniors and Medicare-eligible Individuals: Individuals who enroll in Oscar Health's Medicare Advantage plans to receive health coverage.
  • Small Businesses (Employers): Companies that purchase small group health insurance plans from Oscar Health to provide health benefits to their employees.

AI Analysis | Feedback

Supplier Name: UnitedHealth Group

Symbol: UNH

AI Analysis | Feedback

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Mark Bertolini, Chief Executive Officer

Mark Bertolini was appointed CEO of Oscar Health in April 2023. He previously served as Co-Chief Executive Officer of Bridgewater Associates and as the Chairman and CEO of Aetna Inc. from 2010 to 2018. During his tenure at Aetna, he guided the company's transformation from a traditional health insurance provider to a consumer-centric healthcare company. Aetna was subsequently acquired by CVS Health in 2018. His career also includes executive roles at Cigna, NYLCare Health Plans, and SelectCare, Inc.

R. Scott Blackley, Chief Financial Officer

R. Scott Blackley has been Oscar Health's Chief Financial Officer since August 2023, having previously held the CFO position from March 2021 to December 2022 and serving as Chief Transformation Officer from December 2022 to August 2023. Before joining Oscar, he was the Chief Financial Officer of Capital One from May 2016 to March 2021. His extensive background in finance also includes various executive roles at Fannie Mae, including CFO of the Capital Markets Group, and prior positions at the U.S. Securities and Exchange Commission as a Professional Accounting Fellow, and as a Partner at KPMG, LLP.

Mario Schlosser, Co-Founder & President of Technology, Chief Technology Officer

Mario Schlosser co-founded Oscar Health in 2012 and previously served as its CEO, leading the company from its inception. In his current role, he oversees product and engineering, focusing on the development of Oscar's technology platform and guiding the strategy for +Oscar. Prior to Oscar, Schlosser co-founded the largest social gaming company in Latin America, where he was responsible for analytics and game design. He also held roles as a Senior Investment Associate at Bridgewater Associates and as a consultant at McKinsey & Company.

Ranmali Bopitiya, Chief Legal Officer

Ranmali Bopitiya joined Oscar Health as Chief Legal Officer, effective January 31, 2022, overseeing the company's legal, risk, and government affairs functions. Before Oscar, she served as Chief Legal Officer at Everside Health and as Vice President and General Counsel for Colorado Permanente Medical Group of Kaiser Permanente. She also led the legal function for a high-growth startup within Stanford Health Care.

Steve Wolin, Chief Operating Officer

Steve Wolin joined Oscar Health in 2020 and is responsible for leading the development and execution of Oscar's service organization, insurance operations, population health, pharmacy services, behavioral health, and virtual care. Before his time at Oscar, Wolin was the head of corporate strategy and strategic partnership for Optum.

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AI Analysis | Feedback

The key risks to Oscar Health (OSCR) are:

  1. High Medical Loss Ratio (MLR) and Path to Profitability: Oscar Health consistently faces challenges in translating revenue growth into sustainable profit due to a high Medical Loss Ratio (MLR), which represents the percentage of premium revenue spent on medical claims. For the 2025 fiscal year, the company projects its MLR to be between 86.0% and 87.0%, leading to an anticipated operating loss between $200 million and $300 million. This is exacerbated by increased market morbidity, meaning a higher proportion of sicker individuals are entering their risk pool. The company's ability to accurately price its plans and effectively manage healthcare costs for its members is crucial for achieving profitability.
  2. Expiration of Enhanced Federal Subsidies and ACA Marketplace Competition: A significant macro-economic risk for Oscar Health is the potential expiration of enhanced federal subsidies within the Affordable Care Act (ACA) marketplace. This could lead to a contraction in the individual health insurance market, resulting in margin compression and a decrease in membership for Oscar Health. The company has acknowledged this risk, pricing for a potential 20-30% market shrinkage. Additionally, increased competition from larger insurers in the ACA marketplace poses a challenge to Oscar Health's growth and member retention.
  3. Reliance on Reinsurance and Regulatory Capital Requirements: Oscar Health relies on quota share reinsurance arrangements to meet regulatory capital and surplus requirements and to mitigate the financial risk associated with medical claims. A significant risk is the potential inability to renew these reinsurance agreements on favorable terms or to obtain regulatory approval for them, which could adversely impact Oscar Health's capital position and its compliance with regulatory obligations. Furthermore, as Oscar Health expands its member base and enters new markets, it is required to contribute additional capital to its insurance subsidiaries to meet capital and surplus requirements, which can be substantial and potentially exceed the net income generated by these new ventures.

AI Analysis | Feedback

The increasing strategic moves and investments by major technology companies (e.g., Amazon, Google, Apple) into direct healthcare delivery and potential health plan offerings, which could leverage their superior data, technology, and consumer engagement capabilities to disrupt the health insurance market, particularly impacting tech-centric insurers like Oscar Health.

AI Analysis | Feedback

Oscar Health (OSCR) operates within significant addressable markets in the United States for its main products and services. Here are the identified addressable market sizes:
  • Individual & Family Plans: The U.S. individual health insurance market was valued at approximately USD 1.60 trillion in 2022 and is projected to reach around USD 2.54 trillion by 2030. Oscar Health is a key player in this segment, particularly within the Affordable Care Act (ACA) market, which had 21 million members as of 2021, with projections to climb to 24 million or even 31 million members if enhanced subsidies are extended.
  • Small Group (shifting to Individual Coverage Health Reimbursement Arrangements - ICHRAs): While Oscar Health ceased offering traditional small group policies as of December 2024, the company is strategically targeting the Individual Coverage Health Reimbursement Arrangement (ICHRA) market. If all employers with fewer than 1,000 employees adopted ICHRAs, Oscar Health's addressable market for this offering could expand from 21 million to 96 million lives in the U.S. For context, the broader U.S. group health insurance market was estimated at USD 1.41 trillion in 2024.
  • +Oscar (Technology Platform): For its technology-driven platform, +Oscar, the addressable market is within the healthcare payer technology solutions sector. The technology solutions in the U.S. healthcare payer market was estimated at approximately USD 7.8 billion in 2023 and is anticipated to grow at a Compound Annual Growth Rate (CAGR) of 7.3% from 2024 to 2030. Another source valued this market at USD 7.6 billion in 2023, expecting growth to USD 14.1 billion by 2032.
  • Reinsurance Products: Oscar Health utilizes reinsurance arrangements as part of its operations. The U.S. reinsurance market size was valued at USD 220.05 billion in 2024 and is projected to reach USD 630.10 billion by 2034, demonstrating a CAGR of 11.09% from 2025 to 2034.

AI Analysis | Feedback

Oscar Health (OSCR) anticipates several key drivers for its future revenue growth over the next two to three years:

  1. Membership Growth: Oscar Health has achieved significant growth in its member base, reaching approximately 3.4 million members as of February 1, 2026, a substantial increase from previous years. This growth is a primary factor in the company's projected total revenues of $18.7 billion to $19 billion for 2026, representing a 61% year-over-year increase at the midpoint. The introduction of a new suite of affordable products and an exceptional member experience contributed to this record membership.
  2. Pricing Discipline and Rate Increases: The company has implemented strategic pricing adjustments, including a weighted average rate increase of approximately 28% for 2026. These rate increases are a direct contributor to higher revenue per member.
  3. Market Share Expansion: Oscar Health has expanded its market share across its operational footprint, growing from 17% in 2025 to 30% in 2026. This increase in market share, partly driven by competitors such as CVS Health exiting the individual Affordable Care Act (ACA) exchange market, leads to a larger customer base and, consequently, higher revenue.
  4. AI-driven Efficiency and Technology Platform (+Oscar): Oscar Health leverages its proprietary technology platform, including "Agentic AI features" and "Oswell," an AI-driven health agent, to enhance member experience and operational efficiency. While these advancements are crucial for improving profitability by reducing the medical loss ratio and SG&A expenses, they also indirectly fuel revenue growth by enabling competitive product offerings and superior engagement, which drive membership acquisition and retention. The company's technology is designed to deliver superior experiences, deep engagement, and high-value clinical care.

AI Analysis | Feedback

Capital Allocation Decisions (Last 3-5 Years)

Share Repurchases

  • Oscar Health has not made any share repurchases over the last 3-5 years, with historical data showing $0.00 in share buybacks.

Share Issuance

  • Oscar Health completed its Initial Public Offering (IPO) in March 2021, offering 37,041,026 shares of Class A common stock at $39.00 per share.
  • The company itself sold 36,391,946 shares during the IPO, raising approximately $1.4446 billion.
  • Share issuances have continued in subsequent years, contributing to an increase in shares outstanding from 174.40 million in 2021 to 255.42 million in 2025.

Inbound Investments

  • Prior to its IPO, Google's parent company, Alphabet Inc., was a significant shareholder with approximately an 18% ownership stake.
  • Fidelity and Alphabet were among its largest investors, contributing $400 million and $375 million, respectively, in earlier funding rounds.
  • Institutional ownership includes major firms such as Vanguard Group Inc, BlackRock, Inc., Morgan Stanley, and Thrive Capital Management, LLC, holding a substantial number of shares.

Capital Expenditures

  • Capital expenditures were reported as $6.8 million in December 2024.
  • Quarterly capital expenditures for 2025 were $9.0 million (March 31), $9.3 million (June 30), and $9.0 million (September 30).
  • A primary focus of these expenditures is investments in physical assets and its technology-driven platform, "+Oscar," which is integral to its business model.

Peer Outperformance in Managed Health Care

OSCR has outperformed 100% of its 7 Managed Health Care peers over 5Y. Managed Health Care ranks 2nd of 10 industries in Health Care by median 5Y return. That makes it one of the strongest corners of the sector.
Share of Managed Health Care constituents that OSCR has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
86%
of 7 industry peers · 66.0% return
3Y
100%
of 7 industry peers · 400.0% return
5Y
100%
of 7 industry peers · 95.3% return
No Managed Health Care peer with a comparable growth profile has beaten OSCR by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Managed Health Care is OSCR's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 7 14.0%91.0%127.8% CAH 415% · MCK 351% · COR 181%
Managed Health Care ← 8 32.5%-1.2%5.5% OSCR 95% · HQY 52% · ELV 18%
Health Care Services 20 19.7%52.7%-0.3% HIMS 225% · RDNT 145% · DGX 65%
Health Care Facilities 24 -1.0%3.9%-16.3% THC 253% · NHC 251% · ENSG 113%
Health Care Equipment 50 -4.5%-2.6%-24.5% POCI 10775% · UFPT 344% · GKOS 209%
Pharmaceuticals 63 -1.5%3.3%-33.4% LQDA 2415% · INDV 1137% · ETON 1074%
Health Care Supplies 12 27.9%-10.8%-36.2% LNTH 286% · HAE 63% · MMSI 24%
Life Sciences Tools & Services 109 1.6%-27.6%-71.6% SNWV 1688% · MEDP 208% · NTRA 176%
Health Care Technology 19 -24.6%-51.7%-78.5% SPOK 71% · HSTM -1% · VEEV -10%
Biotechnology 362 4.7%-23.7%-78.8% BRTX 73900% · DNTH 1602% · CELZ 1486%
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

OSCRUNHHUMCNCMOHELVMedian
NameOscar He.UnitedHe.Humana Centene Molina H.Elevance. 
Mkt Price32.25397.14401.5467.04200.80407.50298.97
Mkt Cap9.7358.248.233.110.388.440.7
Rev LTM15,319450,129145,679202,93844,522201,113173,396
Op Inc LTM-21,676-1,616296-1,616
FCF LTM4,38023,6171,9498,9512706,2895,334
FCF 3Y Avg1,94518,365-2224,0972904,1493,021
CFO LTM4,41927,0172,5399,7493657,4645,941
CFO 3Y Avg1,97721,8584084,8123855,3283,395

Growth & Margins

OSCRUNHHUMCNCMOHELVMedian
NameOscar He.UnitedHe.Humana Centene Molina H.Elevance. 
Rev Chg LTM42.8%6.5%18.3%13.9%2.6%6.3%10.2%
Rev Chg 3Y Avg44.8%8.9%13.9%11.2%11.1%6.7%11.1%
Rev Chg Q70.4%0.4%26.2%9.9%-4.8%1.4%5.7%
QoQ Delta Rev Chg LTM15.2%0.1%6.2%2.4%-1.2%0.3%1.4%
Op Inc Chg LTM--29.5%--18.0%-82.1%--29.5%
Op Inc Chg 3Y Avg--9.5%--20.9%-25.0%--20.9%
Op Mgn LTM-4.8%-0.8%0.7%-0.8%
Op Mgn 3Y Avg-6.8%-1.3%2.9%-2.9%
QoQ Delta Op Mgn LTM-0.6%-0.8%-0.5%-0.6%
CFO/Rev LTM28.8%6.0%1.7%4.8%0.8%3.7%4.3%
CFO/Rev 3Y Avg14.7%5.1%0.1%2.5%0.9%2.8%2.7%
FCF/Rev LTM28.6%5.2%1.3%4.4%0.6%3.1%3.8%
FCF/Rev 3Y Avg14.4%4.3%-0.4%2.2%0.7%2.1%2.1%

Valuation

OSCRUNHHUMCNCMOHELVMedian
NameOscar He.UnitedHe.Humana Centene Molina H.Elevance. 
Mkt Cap9.7358.248.233.110.388.440.7
P/S0.60.80.30.20.20.40.4
P/Op Inc-16.5-20.534.7-20.5
P/EBIT16.116.820.3-8.350.512.116.4
P/E17.725.437.7-6.5-1,465.817.817.8
P/CFO2.213.319.03.428.111.812.6
Total Yield5.7%6.2%3.5%-15.4%-0.1%7.3%4.6%
Dividend Yield0.0%2.3%0.9%0.0%0.0%1.7%0.4%
FCF Yield 3Y Avg26.5%5.5%0.4%12.9%2.0%4.7%5.1%
D/E0.00.20.30.50.40.40.3
Net D/E-0.80.1-0.2-0.3-0.5-0.1-0.3

Returns

OSCRUNHHUMCNCMOHELVMedian
NameOscar He.UnitedHe.Humana Centene Molina H.Elevance. 
1M Rtn15.6%-2.4%4.3%1.9%2.2%3.4%2.8%
3M Rtn17.7%-1.8%13.1%3.1%1.2%-2.2%2.1%
6M Rtn131.0%40.1%126.6%54.8%37.5%46.6%50.7%
12M Rtn66.0%29.3%32.3%131.3%15.0%32.7%32.5%
3Y Rtn400.0%-12.6%-11.0%2.5%-37.3%-4.9%-8.0%
1M Excs Rtn21.4%-1.8%9.2%4.3%4.5%4.0%4.4%
3M Excs Rtn27.0%-4.6%10.4%3.0%0.7%-6.1%1.8%
6M Excs Rtn118.5%26.0%111.3%39.1%24.5%27.6%33.3%
12M Excs Rtn56.8%12.7%11.8%115.3%-1.2%16.4%14.5%
3Y Excs Rtn336.9%-85.1%-83.3%-64.1%-108.7%-77.8%-80.6%

Comparison Analyses

null

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment11,7019,1785,8624,1261,921
Total11,7019,1785,8624,1261,921


Price Behavior

Price Behavior
Market Price$32.25 
Market Cap ($ Bil)9.7 
First Trading Date03/03/2021 
Distance from 52W High-1.6% 
   50 Days200 Days
DMA Price$30.08$20.40
DMA Trendupup
Distance from DMA7.2%58.1%
 3M1YR
Volatility58.9%70.7%
Downside Capture51.60117.27
Upside Capture117.37151.62
Correlation (SPY)11.0%26.8%
OSCR Betas & Captures as of 8/31/2026

 1M2M3M6M1Y3Y
Beta0.760.940.281.241.481.20
Up Beta-2.22-1.00-0.591.321.310.77
Down Beta0.730.30-1.130.861.951.11
Up Capture174%150%195%266%206%651%
Bmk +ve Days10213268138427
Stock +ve Days9183067119355
Down Capture380%231%42%55%107%107%
Bmk -ve Days11213259113324
Stock -ve Days12243460132389

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OSCR
OSCR75.9%70.7%1.08-
Sector ETF (XLV)26.5%16.0%1.2820.2%
Equity (SPY)19.7%12.8%1.1326.6%
Gold (GLD)24.6%29.2%0.759.9%
Commodities (DBC)43.8%20.3%1.67-4.6%
Real Estate (VNQ)9.1%13.6%0.3922.9%
Bitcoin (BTCUSD)-28.1%43.8%-0.6327.6%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OSCR
OSCR17.8%80.7%0.55-
Sector ETF (XLV)6.6%15.1%0.2524.7%
Equity (SPY)12.8%17.2%0.5732.7%
Gold (GLD)19.1%18.8%0.826.8%
Commodities (DBC)10.7%19.5%0.436.9%
Real Estate (VNQ)1.7%18.9%-0.0130.3%
Bitcoin (BTCUSD)10.2%52.6%0.3818.5%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with OSCR
OSCR-0.9%79.3%0.32-
Sector ETF (XLV)10.8%16.7%0.5323.2%
Equity (SPY)15.3%17.9%0.7231.5%
Gold (GLD)12.4%16.3%0.627.0%
Commodities (DBC)7.9%18.1%0.356.6%
Real Estate (VNQ)4.8%20.7%0.1929.3%
Bitcoin (BTCUSD)63.7%66.2%1.0317.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date8142026
Short Interest: Shares Quantity16.4 Mil
Short Interest: % Change Since 7312026-7.8%
Average Daily Volume7.0 Mil
Days-to-Cover Short Interest2.3 days
Basic Shares Quantity302.2 Mil
Short % of Basic Shares5.4%

Earnings Returns History

Updated 9/8/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/2026-11.9%-1.7%7.1%
5/6/202610.6%32.3%31.5%
2/10/20261.7%5.8%5.8%
11/6/2025-2.8%-11.3%-1.8%
8/6/20253.8%8.4%33.0%
5/7/202530.2%29.5%19.7%
2/4/20253.1%-7.7%2.2%
11/7/2024-12.3%-13.3%0.4%
...
SUMMARY STATS   
# Positive141316
# Negative896
Median Positive11.2%18.9%9.1%
Median Negative-7.9%-7.7%-9.2%
Max Positive30.3%47.6%42.9%
Max Negative-24.5%-29.2%-34.1%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/2026-11.9%-1.7%7.1%
5/6/202610.6%32.3%31.5%
2/10/20261.7%5.8%5.8%
11/6/2025-2.8%-11.3%-1.8%
8/6/20253.8%8.4%33.0%
5/7/202530.2%29.5%19.7%
2/4/20253.1%-7.7%2.2%
11/7/2024-12.3%-13.3%0.4%
8/7/2024-3.1%6.1%1.0%
5/7/20244.2%15.7%3.8%
2/7/202424.4%26.0%9.1%
11/7/202315.9%19.1%42.9%
8/8/202312.1%6.0%-7.6%
5/9/2023-3.9%-4.1%24.1%
2/9/202330.3%47.6%2.6%
11/8/2022-23.5%-5.9%-10.7%
8/11/202219.2%18.9%-2.9%
5/10/2022-3.3%-2.0%-20.4%
2/10/20224.4%9.5%9.2%
11/10/2021-24.5%-29.2%-34.1%
8/12/20210.3%-11.8%16.7%
5/13/202111.8%20.4%21.9%
SUMMARY STATS   
# Positive141316
# Negative896
Median Positive11.2%18.9%9.1%
Median Negative-7.9%-7.7%-9.2%
Max Positive30.3%47.6%42.9%
Max Negative-24.5%-29.2%-34.1%

SEC Filings

Expand for More
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/07/202610-Q
12/31/202502/13/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/20/202510-K
09/30/202411/07/202410-Q
06/30/202408/07/202410-Q
03/31/202405/07/202410-Q
12/31/202302/15/202410-K
09/30/202311/07/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202202/24/202310-K
09/30/202211/09/202210-Q
Collapse to Preview
Report DateFiling DateFiling
06/30/202608/07/202610-Q
03/31/202605/07/202610-Q
12/31/202502/13/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/20/202510-K
09/30/202411/07/202410-Q
06/30/202408/07/202410-Q
03/31/202405/07/202410-Q
12/31/202302/15/202410-K
09/30/202311/07/202310-Q
06/30/202308/09/202310-Q
03/31/202305/10/202310-Q
12/31/202202/24/202310-K
09/30/202211/09/202210-Q
06/30/202208/12/202210-Q
03/31/202205/12/202210-Q
12/31/202102/25/202210-K
09/30/202111/12/202110-Q
06/30/202108/13/202110-Q
03/31/202105/14/202110-Q
12/31/202003/04/2021424B4

Insider Activity

Updated 9/8/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Baltrus, VictoriaChief Accounting OfficerDirectSell908202631.4595830,1296,718,695Form
2Liang, JanetPresident, Oscar InsuranceDirectSell908202631.4510,360325,8227,821,521Form
3Blackley, Richard ScottChief Financial OfficerDirectSell908202631.4528,869907,93032,900,097Form
4McAnaney, AdamChief Legal OfficerDirectSell908202631.459,092285,9436,573,176Form
5Schlosser, Mario DirectSell908202631.4531,422988,22214,135,014Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Baltrus, VictoriaChief Accounting OfficerDirectSell908202631.4595830,1296,718,695Form
2Liang, JanetPresident, Oscar InsuranceDirectSell908202631.4510,360325,8227,821,521Form
3Blackley, Richard ScottChief Financial OfficerDirectSell908202631.4528,869907,93032,900,097Form
4McAnaney, AdamChief Legal OfficerDirectSell908202631.459,092285,9436,573,176Form
5Schlosser, Mario DirectSell908202631.4531,422988,22214,135,014Form
6Schlosser, Mario DirectSell831202630.79150,0004,618,50014,805,864Form
7Schlosser, Mario DirectSell831202630.34600,00018,204,00014,589,474Form
8Blackley, Richard ScottChief Financial OfficerMQB Irrevocable TrustSell820202631.7418,750595,1251,785,375Form
9Schlosser, Mario Pizzo-Schlosser Family Dynasty TrustSell706202631.2447,500  Form
10Bertolini, Mark TChief Executive OfficerDirectSell701202628.48624,24417,781,383220,800,899Form
11Bertolini, Mark TChief Executive OfficerDirectSell701202629.26614,75217,985,938245,053,087Form
12Bertolini, Mark TChief Executive OfficerDirectSell629202629.28591,16817,310,761263,264,487Form
13Bertolini, Mark TChief Executive OfficerDirectSell629202628.61615,14217,601,317274,166,192Form
14Schlosser, Mario DirectSell625202629.38880,00025,850,51514,125,720Form
15Schlosser, Mario Noah Pizzo-Schlosser Dynasty TrustSell625202629.3850,000  Form
16Schlosser, Mario Siena Pizzo-Schlosser Dynasty TrustSell625202629.3850,000  Form
17Schlosser, Mario Pizzo-Schlosser Family Dynasty TrustSell625202629.3847,500  Form
18Baltrus, VictoriaChief Accounting OfficerDirectSell604202621.941,52333,4174,708,381Form
19Schlosser, Mario DirectSell604202621.9434,120748,63310,550,768Form
20McAnaney, AdamChief Legal OfficerDirectSell604202621.949,859216,3184,785,290Form
21Liang, JanetPresident, Oscar InsuranceDirectSell604202621.9412,475273,7165,684,019Form
22Blackley, Richard ScottChief Financial OfficerDirectSell604202621.9431,683695,16223,586,253Form
23Blackley, Richard ScottChief Financial OfficerDirectSell520202625.03110,0002,753,30027,699,700Form
24Blackley, Richard ScottChief Financial OfficerDirectSell518202623.16100,0002,316,03128,178,226Form
25Bertolini, Mark TChief Executive OfficerDirectBuy407202611.921,000,00011,920,000121,546,762Form
26Liang, JanetPresident, Oscar InsuranceDirectSell304202613.397,45399,7963,635,813Form
27Baltrus, VictoriaChief Accounting OfficerDirectSell304202613.394,63862,1032,893,740Form
28McAnaney, AdamChief Legal OfficerDirectSell304202613.3918,710250,5273,052,317Form
29Schlosser, MarioPresident of Technology & CTODirectSell304202613.3924,335325,8466,895,663Form
30Blackley, Richard ScottChief Financial OfficerDirectSell304202613.3919,221257,36919,638,577Form
31Schlosser, MarioPresident of Technology & CTODirectSell112202617.6523,038406,6216,180,677Form
32Schlosser, MarioPresident of Technology & CTODirectSell106202615.6496,9281,515,9545,476,815Form
33Schlosser, MarioPresident of Technology & CTODirectSell106202615.02137,9332,071,7545,410,429Form
34Schlosser, MarioPresident of Technology & CTODirectSell1230202515.0038,835582,5256,575,220Form
35McAnaney, AdamChief Legal OfficerDirectSell1204202516.591,85230,7252,973,608Form
36Schlosser, MarioPresident of Technology & CTODirectSell1204202516.5923,965397,5797,916,466Form
37Liang, JanetPresident, Oscar InsuranceDirectSell1204202516.597,338121,7372,862,223Form
38Blackley, Richard ScottChief Financial OfficerDirectSell1204202516.5925,135416,99022,413,654Form
39Baltrus, VictoriaChief Accounting OfficerDirectSell1204202516.594,14968,8323,375,236Form
40Schlosser, MarioPresident of Technology & CTODirectSell1113202515.05105,3001,584,7657,542,277Form
41Schlosser, MarioPresident of Technology & CTODirectSell1113202515.27286,1824,369,9997,652,530Form
42Schlosser, MarioPresident of Technology & CTODirectSell924202518.43395,0007,279,8509,236,158Form

Investor Activity (13F)

Updated Sep 8, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Thrive Capital Management, LLC$72.8 Mil21.2%5Hold13F
Alphabet Inc.$5.5 Mil0.1%27Hold13F
Sessa Capital IM, L.P.$5.7 Mil0.1%31Hold13F
Active Manager
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Thrive Capital Management, LLC$72.8 Mil21.2%5Hold13F
Sessa Capital IM, L.P.$5.7 Mil0.1%31Hold13F
Alphabet Inc.$5.5 Mil0.1%27Hold13F
Core Cache Last Updated: 9/7/2026