2,222,074 Shares in Omada Health, Inc. $OMDA Bought by BlackRock Inc.

Key Points

• BlackRock acquired 2.22 million Omada Health shares worth approximately $48.8 million in the second quarter, giving it a 3.74% stake. Several other institutional investors also initiated or increased positions.
• Omada Health reported quarterly EPS of $0.08, exceeding the consensus estimate of a $0.02 loss, while revenue of $87.83 million surpassed expectations of $80.93 million.
• Analyst sentiment is broadly positive, with 11 Buy ratings, two Holds and one Sell; the consensus rating is “Moderate Buy” with a $26.50 price target. However, company insiders sold 255,834 shares worth roughly $5.4 million during the last quarter.

BlackRock Inc. bought a new position in shares of Omada Health, Inc. (NASDAQ:OMDA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,222,074 shares of the company's stock, valued at approximately $48,775,000. BlackRock Inc. owned approximately 3.74% of Omada Health at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Quarry LP bought a new position in Omada Health in the 4th quarter valued at approximately $29,000. Raymond James Financial Inc. bought a new stake in shares of Omada Health during the second quarter worth $32,000. Versant Capital Management Inc increased its holdings in shares of Omada Health by 319.3% during the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company's stock worth $66,000 after buying an additional 2,283 shares in the last quarter. Strs Ohio lifted its stake in shares of Omada Health by 151.0% in the 4th quarter. Strs Ohio now owns 4,267 shares of the company's stock valued at $67,000 after acquiring an additional 2,567 shares during the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of Omada Health in the 4th quarter valued at $73,000.

Insider Activity

In related news, CFO Steven L. Cook sold 33,000 shares of the business's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $19.89, for a total value of $656,370.00. Following the completion of the sale, the chief financial officer directly owned 133,359 shares of the company's stock, valued at $2,652,510.51. The trade was a 19.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sean P. Duffy sold 25,886 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total value of $587,094.48. Following the transaction, the chief executive officer directly owned 411,861 shares in the company, valued at approximately $9,341,007.48. This trade represents a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 255,834 shares of company stock worth $5,398,196 in the last quarter. Company insiders own 6.38% of the company's stock.

Omada Health Stock Performance

Shares of OMDA stock opened at $24.55 on Tuesday. Omada Health, Inc. has a fifty-two week low of $10.28 and a fifty-two week high of $26.92. The stock has a 50 day simple moving average of $22.41 and a two-hundred day simple moving average of $17.29. The company has a market cap of $1.50 billion, a P/E ratio of 491.00 and a beta of 1.73.

Omada Health (NASDAQ:OMDA - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.10. The company had revenue of $87.83 million during the quarter, compared to the consensus estimate of $80.93 million. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. On average, research analysts predict that Omada Health, Inc. will post 0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Citigroup reiterated an "outperform" rating on shares of Omada Health in a report on Friday, August 14th. BMO Capital Markets reissued an "outperform" rating and set a $24.00 target price on shares of Omada Health in a report on Friday, August 7th. Weiss Ratings upgraded shares of Omada Health from a "sell (e+)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Evercore reaffirmed an "outperform" rating and set a $20.00 price target on shares of Omada Health in a research note on Friday, May 8th. Finally, BTIG Research lifted their price target on shares of Omada Health from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $26.50.

Omada Health Company Profile

Omada Health is a digital health company that specializes in the prevention and management of chronic conditions through personalized, technology-driven programs. The company's platform combines data analytics, behavioral science and human coaching to support individuals at risk for or living with conditions such as prediabetes, type 2 diabetes, hypertension and musculoskeletal disorders. Participants access the program via a mobile app or web portal, where they receive tailored curriculum, feedback on health metrics and ongoing virtual coaching.

In addition to its core disease-management offerings, Omada Health has expanded its services to include mental health support and digital therapeutics for weight management.

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