GSA Capital Partners LLP Invests $1.29 Million in Omada Health, Inc. $OMDA

Key Points

• GSA Capital Partners purchased 58,714 Omada Health shares worth approximately $1.29 million, joining several other institutional investors that recently established or expanded positions.
• Omada Health exceeded quarterly expectations, reporting $0.08 in earnings per share versus a $0.02 loss estimate and revenue of $87.83 million versus $80.93 million expected. Analysts maintain a “Moderate Buy” consensus with an average price target of $26.50.
• Company insiders sold 254,726 shares worth approximately $5.37 million over the past 90 days, while the stock recently traded at $23.75, up from its 50-day and 200-day moving averages.

GSA Capital Partners LLP purchased a new stake in shares of Omada Health, Inc. (NASDAQ:OMDA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 58,714 shares of the company's stock, valued at approximately $1,289,000. GSA Capital Partners LLP owned approximately 0.10% of Omada Health at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Perceptive Advisors LLC bought a new position in Omada Health during the second quarter valued at about $44,402,000. Millennium Management LLC lifted its position in shares of Omada Health by 1,195.0% in the fourth quarter. Millennium Management LLC now owns 2,272,168 shares of the company's stock worth $35,855,000 after buying an additional 2,096,705 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Omada Health during the 4th quarter worth about $16,948,000. SG Americas Securities LLC bought a new stake in shares of Omada Health during the 1st quarter worth about $10,401,000. Finally, Madryn Asset Management LP acquired a new position in shares of Omada Health during the 4th quarter valued at about $9,212,000.

Omada Health Trading Down 1.2%

Shares of Omada Health stock opened at $23.75 on Tuesday. The company's fifty day simple moving average is $21.10 and its 200-day simple moving average is $16.54. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 475.00 and a beta of 1.73. Omada Health, Inc. has a 1 year low of $10.28 and a 1 year high of $26.92.

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

Insider Activity

In related news, CEO Sean P. Duffy sold 25,886 shares of Omada Health stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total transaction of $587,094.48. Following the sale, the chief executive officer directly owned 411,861 shares of the company's stock, valued at $9,341,007.48. This trade represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven L. Cook sold 33,000 shares of the business's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $19.89, for a total value of $656,370.00. Following the transaction, the chief financial officer owned 133,359 shares in the company, valued at $2,652,510.51. This represents a 19.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 254,726 shares of company stock worth $5,370,496. Insiders own 6.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on OMDA shares. Canaccord Genuity Group boosted their target price on Omada Health from $24.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. BMO Capital Markets reissued an "outperform" rating and issued a $24.00 price target on shares of Omada Health in a research report on Friday, August 7th. Citigroup reaffirmed an "outperform" rating on shares of Omada Health in a report on Friday. Wall Street Zen upgraded shares of Omada Health from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Citizens Jmp upped their price target on shares of Omada Health from $27.00 to $32.00 and gave the company a "market outperform" rating in a report on Friday. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average 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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