Ieq Capital LLC Invests $1.73 Million in Omada Health, Inc. $OMDA

Key Points

• Ieq Capital acquired 78,742 Omada Health shares worth approximately $1.73 million in the second quarter, while other major institutions including BlackRock and Perceptive Advisors also established sizable 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 against an $80.93 million consensus forecast.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and a $26.50 average price target; however, company insiders sold 254,726 shares worth about $5.37 million during the last quarter.

Ieq Capital LLC bought a new stake in Omada Health, Inc. (NASDAQ:OMDA - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 78,742 shares of the company's stock, valued at approximately $1,728,000. Ieq Capital LLC owned about 0.13% of Omada Health as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Perceptive Advisors LLC acquired a new position in Omada Health during the second quarter worth $44,402,000. BlackRock Inc. bought a new position in Omada Health in the second quarter valued at $48,775,000. Millennium Management LLC increased its stake in Omada Health by 1,195.0% in the 4th quarter. Millennium Management LLC now owns 2,272,168 shares of the company's stock valued at $35,855,000 after buying an additional 2,096,705 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Omada Health in the 4th quarter valued at $16,948,000. Finally, SG Americas Securities LLC bought a new stake in Omada Health during the 1st quarter worth about $10,401,000.

Omada Health Stock Performance

Shares of NASDAQ:OMDA opened at $23.94 on Wednesday. Omada Health, Inc. has a 52-week low of $10.28 and a 52-week high of $26.92. The company has a market capitalization of $1.47 billion, a P/E ratio of 478.80 and a beta of 1.73. The company has a 50-day simple moving average of $21.89 and a 200 day simple moving average of $16.94.

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on OMDA. Citigroup restated an "outperform" rating on shares of Omada Health in a report on Friday, August 14th. The Goldman Sachs Group reissued a "buy" rating on shares of Omada Health in a research report on Friday, May 8th. BMO Capital Markets restated an "outperform" rating and issued a $24.00 price target on shares of Omada Health in a research note on Friday, August 7th. Barclays upped their price objective on Omada Health from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Finally, Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Omada Health in a report on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.50.

Insider Activity at Omada Health

In other Omada Health news, CFO Steven L. Cook sold 33,000 shares of the firm's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $19.89, for a total transaction of $656,370.00. Following the completion of the sale, the chief financial officer owned 133,359 shares of the company's stock, valued at $2,652,510.51. This trade represents a 19.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sean P. Duffy sold 25,886 shares of Omada Health stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total transaction of $587,094.48. Following the transaction, the chief executive officer directly owned 411,861 shares of the company's stock, valued at approximately $9,341,007.48. This trade represents a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 254,726 shares of company stock valued at $5,370,496 over the last quarter. 6.38% of the stock is currently owned by corporate insiders.

Omada Health 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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