AlpInvest Partners B.V. Makes New $1.18 Million Investment in Omada Health, Inc. $OMDA

Key Points

• AlpInvest Partners acquired 53,867 Omada Health shares worth approximately $1.18 million, representing about 0.09% of the company and 2% of the fund’s holdings.
• Omada insiders sold 254,726 shares valued at roughly $5.37 million over the past three months, including significant sales by the CEO and CFO.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $26.50. The company also exceeded quarterly expectations, reporting $0.08 EPS versus a projected loss of $0.02 and revenue of $87.83 million.

AlpInvest Partners B.V. purchased a new position in shares of Omada Health, Inc. (NASDAQ:OMDA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 53,867 shares of the company's stock, valued at approximately $1,182,000. Omada Health accounts for about 2.0% of AlpInvest Partners B.V.'s holdings, making the stock its 12th largest position. AlpInvest Partners B.V. owned about 0.09% of Omada Health at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in Omada Health during the 4th quarter worth approximately $29,000. TD Waterhouse Canada Inc. purchased a new position in shares of Omada Health during the 4th quarter valued at approximately $32,000. Raymond James Financial Inc. acquired a new stake in shares of Omada Health during the second quarter worth approximately $32,000. Versant Capital Management Inc grew its position 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. Finally, Strs Ohio increased its stake in shares of Omada Health by 151.0% in the fourth quarter. Strs Ohio now owns 4,267 shares of the company's stock worth $67,000 after buying an additional 2,567 shares during the last quarter.

Insider Transactions at Omada Health

In other news, CFO Steven L. Cook sold 33,000 shares of Omada Health stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $19.89, for a total transaction of $656,370.00. Following the sale, the chief financial officer owned 133,359 shares of the company's stock, valued at approximately $2,652,510.51. The trade was a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sean P. Duffy sold 25,886 shares of the business'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 owned 411,861 shares of the company's stock, valued at approximately $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 254,726 shares of company stock valued at $5,370,496 over the last three months. 6.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on OMDA. Canaccord Genuity Group increased their price target on shares of Omada Health from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Robert W. Baird boosted their price objective on Omada Health from $15.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, August 12th. Evercore restated an "outperform" rating and set a $20.00 price objective on shares of Omada Health in a research note on Friday, May 8th. Barclays increased their target price on Omada Health from $20.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, August 3rd. Finally, Wall Street Zen upgraded Omada Health from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Omada Health has a consensus rating of "Moderate Buy" and an average price target of $26.50.

Omada Health Stock Performance

NASDAQ:OMDA opened at $23.75 on Wednesday. The stock has a 50 day moving average of $21.21 and a 200-day moving average of $16.60. The firm has a market capitalization of $1.45 billion, a PE ratio of 475.00 and a beta of 1.73. Omada Health, Inc. has a 52 week low of $10.28 and a 52 week high of $26.92.

Omada Health (NASDAQ:OMDA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.10. Omada Health had a return on equity of 2.60% and a net margin of 1.39%.The business had revenue of $87.83 million for the quarter, compared to the consensus estimate of $80.93 million. As a group, analysts predict that Omada Health, Inc. will post -0.01 EPS for the current fiscal year.

Omada Health 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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