Corient Private Wealth LP Invests $3.11 Million in Omada Health, Inc. $OMDA

Key Points

• Corient Private Wealth purchased 141,592 Omada Health shares worth approximately $3.11 million, representing about 0.23% of the company. Several other institutional investors also recently initiated or increased positions.
• Omada Health reported quarterly revenue of $87.83 million and earnings of $0.08 per share, exceeding analysts’ expectations of $80.93 million in revenue and a $0.02-per-share loss.
• Insiders sold approximately $5.4 million of stock over the past three months, while shares recently traded at $22.84 after falling 7%. Analysts maintain a consensus “Moderate Buy” rating with a $26.50 target price.

Corient Private Wealth LP purchased a new stake in shares of Omada Health, Inc. (NASDAQ:OMDA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 141,592 shares of the company's stock, valued at approximately $3,108,000. Corient Private Wealth LP owned about 0.23% of Omada Health at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in Omada Health during the 2nd quarter worth $32,000. Bellevue Group AG boosted its position in Omada Health by 0.7% in the 3rd quarter. Bellevue Group AG now owns 251,791 shares of the company's stock valued at $5,567,000 after buying an additional 1,791 shares during the last quarter. Quarry LP acquired a new stake in shares of Omada Health in the 4th quarter valued at $29,000. Barclays PLC raised its position in shares of Omada Health by 14.6% during the fourth quarter. Barclays PLC now owns 14,850 shares of the company's stock worth $234,000 after acquiring an additional 1,888 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake 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 valued at $66,000 after acquiring an additional 2,283 shares during the period.

Insider Activity

In other Omada Health news, CFO Steven L. Cook sold 1,108 shares of the stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $25.00, for a total value of $27,700.00. Following the sale, the chief financial officer directly owned 187,209 shares in the company, valued at approximately $4,680,225. This trade represents a 0.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Wei-Li Shao sold 8,866 shares of Omada Health stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $25.02, for a total transaction of $221,827.32. Following the transaction, the president directly owned 307,372 shares in the company, valued at approximately $7,690,447.44. This represents a 2.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 255,834 shares of company stock worth $5,398,196 over the last three months. Company insiders own 6.38% of the company's stock.

Omada Health Trading Down 7.0%

Shares of OMDA opened at $22.84 on Wednesday. Omada Health, Inc. has a 1 year low of $10.28 and a 1 year high of $26.92. The stock has a market cap of $1.40 billion, a P/E ratio of 456.80 and a beta of 1.85. The stock's 50-day moving average price is $22.50 and its two-hundred day moving average price is $17.38.

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 for the quarter, beating analysts' consensus estimates of ($0.02) by $0.10. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. The business had revenue of $87.83 million for the quarter, compared to the consensus estimate of $80.93 million. As a group, equities analysts forecast that Omada Health, Inc. will post 0.09 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BMO Capital Markets reiterated an "outperform" rating and issued a $24.00 price target on shares of Omada Health in a report on Friday, August 7th. Needham & Company LLC restated a "buy" rating and set a $28.00 target price on shares of Omada Health in a research report on Friday, May 8th. Weiss Ratings raised shares of Omada Health from a "sell (e+)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. The Goldman Sachs Group reiterated a "buy" rating on shares of Omada Health in a research report on Friday, May 8th. Finally, Barclays boosted their price target on shares of Omada Health from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Eleven equities research 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.50.

About Omada Health

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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