Bank of America Corp DE Acquires 313,440 Shares of Omada Health, Inc. $OMDA

Key Points

• Bank of America acquired 313,440 shares of Omada Health during the second quarter, worth approximately $6.88 million and representing about 0.51% of the company. Several other institutional investors, including BlackRock, also initiated or increased positions.
• Omada Health reported quarterly revenue of $87.83 million and earnings per share of $0.08, exceeding analyst expectations of $80.93 million in revenue and a $0.02 per-share loss.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and a consensus “Moderate Buy” rating; the average price target is $26.67 versus the stock’s recent price of $19.66. However, company executives have sold shares recently, including CEO Sean Duffy’s sale of 14,960 shares.

Bank of America Corp DE acquired a new stake in Omada Health, Inc. (NASDAQ:OMDA - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 313,440 shares of the company's stock, valued at approximately $6,880,000. Bank of America Corp DE owned approximately 0.51% of Omada Health at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in Omada Health in the 2nd quarter worth approximately $48,775,000. BIT Capital GmbH boosted its stake in shares of Omada Health by 52.4% in the fourth quarter. BIT Capital GmbH now owns 940,238 shares of the company's stock valued at $14,837,000 after purchasing an additional 323,365 shares during the period. SG Americas Securities LLC purchased a new position in shares of Omada Health in the first quarter valued at $10,401,000. Walleye Capital LLC acquired a new stake in Omada Health during the 2nd quarter valued at $11,648,000. Finally, BNP Paribas Financial Markets grew its holdings in Omada Health by 3,209.8% during the 4th quarter. BNP Paribas Financial Markets now owns 416,603 shares of the company's stock valued at $6,574,000 after purchasing an additional 404,016 shares in the last quarter.

Omada Health Price Performance

Shares of OMDA stock opened at $19.66 on Monday. Omada Health, Inc. has a 12-month low of $10.28 and a 12-month high of $26.92. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 393.20 and a beta of 1.86. The business has a 50 day simple moving average of $22.00 and a 200 day simple moving average of $18.48.

Omada Health (NASDAQ:OMDA - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, beating 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 firm had revenue of $87.83 million for the quarter, compared to the consensus estimate of $80.93 million. On average, equities analysts anticipate that Omada Health, Inc. will post 0.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays upped their price objective on shares of Omada Health from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday, September 11th. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price target on shares of Omada Health in a research note on Friday, September 11th. Canaccord Genuity Group increased their price target on Omada Health from $24.00 to $28.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. BMO Capital Markets restated an "outperform" rating and set a $24.00 price objective on shares of Omada Health in a research note on Friday, August 7th. Finally, Citizens Jmp lifted their price objective on Omada Health from $27.00 to $32.00 and gave the stock a "market outperform" rating in a report on Friday, August 14th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $26.67.

Insider Activity at Omada Health

In other Omada Health news, President Wei-Li Shao sold 4,036 shares of the firm's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $21.85, for a total transaction of $88,186.60. Following the transaction, the president owned 295,313 shares of the company's stock, valued at approximately $6,452,589.05. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sean P. Duffy sold 14,960 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $21.87, for a total transaction of $327,175.20. Following the sale, the chief executive officer owned 382,594 shares in the company, valued at $8,367,330.78. This trade represents a 3.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 173,212 shares of company stock valued at $3,989,888 in the last ninety days. Company insiders own 6.38% of the company's stock.

About Omada Health

Omada Health, Inc is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines clinical care, health coaching, connected devices, digital tools and personalized support to help members improve health outcomes and manage conditions over time.

The company's offerings address areas including diabetes, hypertension, weight health and musculoskeletal conditions. Omada's programs are designed to support prevention and ongoing care through services such as remote monitoring, personalized health guidance, educational content and access to healthcare professionals.

Omada primarily serves members through employers, health plans and healthcare organizations in the United States.

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