Bank of New York Mellon Corp Invests $1.79 Million in Omada Health, Inc. $OMDA

Key Points

• Bank of New York Mellon initiated a $1.79 million position in Omada Health during the second quarter, while several other institutional investors also established or increased holdings.
• Analysts remain broadly positive, with 11 Buy, two Hold and one Sell rating; the average rating is “Moderate Buy” and the consensus price target is $26.50.
• Omada’s latest quarterly results exceeded expectations, reporting $0.08 in EPS versus a $0.02 loss estimate and revenue of $87.83 million versus the $80.93 million consensus. However, insiders sold 277,406 shares worth about $5.91 million over the past 90 days.

Bank of New York Mellon Corp purchased a new position in shares of Omada Health, Inc. (NASDAQ:OMDA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 81,390 shares of the company's stock, valued at approximately $1,787,000. Bank of New York Mellon Corp owned about 0.14% of Omada Health at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of OMDA. GSA Capital Partners LLP acquired a new stake in Omada Health in the 2nd quarter worth about $1,289,000. Walleye Capital LLC bought a new stake in Omada Health during the second quarter worth about $11,648,000. Versant Capital Management Inc lifted its position in 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 purchasing an additional 2,283 shares during the period. Bank of America Corp DE grew its stake in Omada Health by 51.5% during the first quarter. Bank of America Corp DE now owns 161,099 shares of the company's stock worth $2,025,000 after buying an additional 54,792 shares in the last quarter. Finally, Stoic Point Capital Management LLC bought a new stake in shares of Omada Health during the 1st quarter worth approximately $1,830,000.

Insider Transactions at Omada Health

In related news, 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 sale, the chief executive officer directly owned 411,861 shares in the company, valued at $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Steven L. Cook sold 33,000 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $19.89, for a total transaction of $656,370.00. Following the sale, the chief financial officer directly owned 133,359 shares of the company's stock, valued at $2,652,510.51. This represents a 19.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 277,406 shares of company stock valued at $5,907,726 over the last 90 days. 6.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Canaccord Genuity Group boosted their price target on Omada Health from $24.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Weiss Ratings upgraded shares of Omada Health from a "sell (e+)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. lifted their price target on shares of Omada Health from $26.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, August 14th. Citigroup reaffirmed an "outperform" rating on shares of Omada Health in a research note on Friday, August 14th. Finally, Citizens Jmp boosted their price objective on Omada Health from $27.00 to $32.00 and gave the stock a "market outperform" rating in a research report on Friday, August 14th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Omada Health currently has an average rating of "Moderate Buy" and an average price target of $26.50.

Omada Health Stock Down 2.6%

NASDAQ OMDA opened at $22.18 on Wednesday. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 443.60 and a beta of 1.86. Omada Health, Inc. has a twelve month low of $10.28 and a twelve month high of $26.92. The stock has a fifty day simple moving average of $22.72 and a 200 day simple moving average of $17.77.

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

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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