Omada Health, Inc. $OMDA Shares Purchased by Walleye Capital LLC

Key Points

• Walleye Capital LLC boosted its Omada Health stake by 677.2% in the first quarter, ending with 352,443 shares valued at about $4.43 million.
• Several other hedge funds also increased or initiated positions, including a large new stake from Perceptive Advisors and a major increase from Millennium Management, signaling strong institutional interest.
• Analysts remain broadly positive on OMDA, with 11 Buy ratings and a consensus Moderate Buy rating; the average price target is $24.33, while the stock recently traded at $21.84.

Walleye Capital LLC raised its position in Omada Health, Inc. (NASDAQ:OMDA - Free Report) by 677.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 352,443 shares of the company's stock after acquiring an additional 307,097 shares during the quarter. Walleye Capital LLC owned 0.59% of Omada Health worth $4,430,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research firms have weighed in on OMDA. Citizens Jmp upped their price objective on shares of Omada Health from $21.00 to $27.00 and gave the company a "market outperform" rating in a research report on Monday. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 target price on shares of Omada Health in a research report on Friday, May 8th. Evercore reiterated an "outperform" rating and issued a $20.00 price target on shares of Omada Health in a research note on Friday, May 8th. BTIG Research assumed coverage on Omada Health in a report on Friday, July 17th. They issued a "buy" rating and a $30.00 price target for the company. Finally, Canaccord Genuity Group raised their price objective on Omada Health from $24.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.33.

Omada Health Price Performance

Shares of OMDA stock opened at $21.84 on Thursday. The firm has a market cap of $1.30 billion and a P/E ratio of -80.89. Omada Health, Inc. has a 1-year low of $10.28 and a 1-year high of $26.92. The firm has a fifty day moving average of $19.47 and a two-hundred day moving average of $15.81.

Omada Health (NASDAQ:OMDA - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.03. Omada Health had a negative net margin of 2.22% and a negative return on equity of 1.82%. The business had revenue of $78.05 million for the quarter. On average, sell-side analysts expect that Omada Health, Inc. will post -0.01 EPS for the current year.

Insider Activity at Omada Health

In related news, CEO Sean P. Duffy sold 25,886 shares of the business's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total value of $587,094.48. Following the completion of the sale, the chief executive officer directly owned 411,861 shares of the company's stock, valued at $9,341,007.48. The trade was a 5.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven L. Cook sold 12,337 shares of the company's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $23.09, for a total value of $284,861.33. Following the sale, the chief financial officer owned 187,209 shares in the company, valued at $4,322,655.81. The trade was a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 193,462 shares of company stock valued at $3,927,425 over the last three months. 6.38% of the stock is owned by insiders.

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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