Corient Private Wealth LP Has $3.19 Million Position in Omada Health, Inc. $OMDA

Key Points

• Institutional ownership increased: Corient Private Wealth raised its Omada Health stake by 252.5% in the second quarter to 145,118 shares valued at approximately $3.19 million. BlackRock and several other institutions also initiated or expanded positions.
• Analyst sentiment is broadly positive: Eleven analysts rate the stock Buy, two rate it Hold and one rates it Sell, resulting in a “Moderate Buy” consensus and an average price target of $26.67.
• Strong quarterly results contrasted with insider selling: Omada reported adjusted EPS of $0.08 versus expectations of a $0.02 loss and revenue of $87.83 million, beating estimates. However, insiders sold 250,570 shares worth about $5.55 million over the past 90 days.

Corient Private Wealth LP increased its stake in shares of Omada Health, Inc. (NASDAQ:OMDA - Free Report) by 252.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,118 shares of the company's stock after acquiring an additional 103,955 shares during the quarter. Corient Private Wealth LP owned approximately 0.24% of Omada Health worth $3,185,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Omada Health during the second quarter worth approximately $48,775,000. Jefferies Financial Group Inc. acquired a new position in Omada Health during the fourth quarter worth $16,948,000. BIT Capital GmbH lifted 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 buying an additional 323,365 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Omada Health in the first quarter valued at $10,401,000. Finally, Madryn Asset Management LP acquired a new position in shares of Omada Health during the fourth quarter valued at about $9,212,000.

Insider Activity at Omada Health

In related news, CFO Steven L. Cook sold 33,000 shares of the firm's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $19.89, for a total transaction of $656,370.00. Following the transaction, the chief financial officer directly owned 133,359 shares of the company's stock, valued at approximately $2,652,510.51. This trade represents a 19.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sean P. Duffy sold 25,886 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total transaction of $587,094.48. Following the transaction, the chief executive officer owned 411,861 shares in the company, valued at $9,341,007.48. The trade was a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 250,570 shares of company stock worth $5,546,725. 6.38% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Robert W. Baird upped their price target on Omada Health from $15.00 to $25.00 and gave the stock a "neutral" rating in a report on Wednesday, August 12th. Weiss Ratings raised shares of Omada Health from a "sell (e+)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Citigroup reiterated an "outperform" rating on shares of Omada Health in a research note on Friday, August 14th. Morgan Stanley reiterated an "overweight" rating and set a $30.00 price target on shares of Omada Health in a report on Monday, June 22nd. Finally, Barclays lifted their target price on Omada Health from $25.00 to $27.00 and gave the stock an "overweight" rating in a research note on Friday, September 11th. Eleven research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $26.67.

Omada Health Price Performance

Shares of NASDAQ OMDA opened at $20.43 on Monday. The company has a market cap of $1.25 billion, a P/E ratio of 408.60 and a beta of 1.86. Omada Health, Inc. has a 52 week low of $10.28 and a 52 week high of $26.92. The business has a 50-day simple moving average of $22.32 and a two-hundred day simple moving average of $18.24.

Omada Health (NASDAQ:OMDA - Get Free Report) last posted its 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. The business had revenue of $87.83 million for the quarter, compared to analysts' expectations of $80.93 million. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. Equities research analysts anticipate that Omada Health, Inc. will post 0.09 EPS for the current year.

Omada Health Profile

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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