Omada Health, Inc. $OMDA Shares Sold by Perceptive Advisors LLC

Key Points

• Perceptive Advisors cut its Omada Health stake by 67.2% in the first quarter, selling 1.61 million shares and retaining 786,330 shares worth approximately $9.9 million.
• Omada Health reported first-quarter revenue of $78.05 million and an adjusted loss of $0.05 per share, beating analysts’ expected loss of $0.08 per share. The company remains unprofitable, with a negative net margin of 2.22%.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and a $24.33 price target, while insiders sold 193,462 shares worth about $3.93 million over the last quarter.

Perceptive Advisors LLC lessened its stake in Omada Health, Inc. (NASDAQ:OMDA - Free Report) by 67.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 786,330 shares of the company's stock after selling 1,610,000 shares during the period. Perceptive Advisors LLC owned about 1.32% of Omada Health worth $9,884,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in OMDA. Raymond James Financial Inc. acquired a new stake in shares of Omada Health in the second quarter valued at $32,000. Quarry LP acquired a new position in Omada Health during the 4th quarter worth about $29,000. TD Waterhouse Canada Inc. purchased a new position in Omada Health during the 4th quarter valued at about $32,000. Inlight Wealth Management LLC purchased a new position in Omada Health during the 4th quarter valued at about $45,000. Finally, JPMorgan Chase & Co. acquired a new position in Omada Health in the 3rd quarter valued at about $82,000.

Omada Health Stock Performance

OMDA stock opened at $19.84 on Friday. The company's 50 day moving average price is $19.99 and its 200 day moving average price is $16.03. Omada Health, Inc. has a fifty-two week low of $10.28 and a fifty-two week high of $26.92. The firm has a market capitalization of $1.18 billion and a price-to-earnings ratio of -73.48.

Omada Health (NASDAQ:OMDA - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping 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 company had revenue of $78.05 million during the quarter. Equities analysts forecast that Omada Health, Inc. will post -0.01 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on OMDA shares. The Goldman Sachs Group reissued a "buy" rating on shares of Omada Health in a research report on Friday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 target price on shares of Omada Health in a research note on Friday, May 8th. Canaccord Genuity Group increased their target price on shares of Omada Health from $24.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. Wells Fargo & Company boosted their price target on shares of Omada Health from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Finally, Evercore reaffirmed an "outperform" rating and set a $20.00 price objective on shares of Omada Health in a research report on Friday, May 8th. Eleven investment 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.33.

Insider Buying and Selling

In other Omada Health news, CAO Craig Gracey sold 6,894 shares of Omada Health stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.42, for a total transaction of $120,093.48. Following the completion of the sale, the chief accounting officer directly owned 9,191 shares of the company's stock, valued at $160,107.22. The trade was a 42.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sean P. Duffy sold 25,886 shares of the company'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 transaction, the chief executive officer directly owned 411,861 shares of the company's stock, valued at approximately $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 193,462 shares of company stock worth $3,927,425. Corporate insiders own 6.38% of the company's stock.

Omada Health Company 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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