Quantinno Capital Management LP Grows Stock Position in Omada Health, Inc. $OMDA

Key Points

• Quantinno Capital Management increased its Omada Health stake by 464.1% in the first quarter to 58,723 shares, while several other institutional investors initiated positions during the second quarter.
• Analyst sentiment is broadly positive: 11 analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and a $26.50 price target. Shares recently opened at $23.75, near their 12-month high of $26.92.
• Omada Health exceeded quarterly expectations, reporting $0.08 in EPS versus a $0.02 loss estimate and revenue of $87.83 million versus an $80.93 million forecast. However, insiders have sold approximately $5.37 million of stock over the past 90 days.

Quantinno Capital Management LP raised its holdings in Omada Health, Inc. (NASDAQ:OMDA - Free Report) by 464.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,723 shares of the company's stock after buying an additional 48,313 shares during the quarter. Quantinno Capital Management LP owned approximately 0.10% of Omada Health worth $738,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC acquired a new stake in shares of Omada Health in the second quarter worth approximately $637,000. Walleye Capital LLC purchased a new position in Omada Health during the second quarter worth approximately $458,000. Ilex Capital Partners UK LLP acquired a new position in shares of Omada Health in the 2nd quarter valued at $201,000. Soros Fund Management LLC acquired a new position in shares of Omada Health in the 2nd quarter valued at $640,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Omada Health during the 2nd quarter valued at $32,000.

Insider Buying and Selling

In other Omada Health news, CAO Craig Gracey sold 1,042 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $25.00, for a total value of $26,050.00. Following the completion of the sale, the chief accounting officer owned 15,441 shares of the company's stock, valued at $386,025. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven L. Cook sold 1,607 shares of Omada Health stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $25.01, for a total transaction of $40,191.07. Following the sale, the chief financial officer owned 187,209 shares in the company, valued at $4,682,097.09. This represents a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 254,726 shares of company stock valued at $5,370,496. Corporate insiders own 6.38% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Wall Street Zen raised Omada Health from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. Barclays upped their price target on Omada Health from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. JPMorgan Chase & Co. lifted their price objective on Omada Health from $26.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Evercore reiterated an "outperform" rating and set a $20.00 target price on shares of Omada Health in a report on Friday, May 8th. Finally, Wells Fargo & Company increased their target price on shares of Omada Health from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $26.50.

Omada Health Stock Performance

Shares of NASDAQ OMDA opened at $23.75 on Wednesday. Omada Health, Inc. has a 12-month low of $10.28 and a 12-month high of $26.92. The company has a market cap of $1.45 billion, a P/E ratio of 475.00 and a beta of 1.73. The stock has a fifty day moving average price of $21.21 and a 200 day moving average price of $16.60.

Omada Health (NASDAQ:OMDA - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.10. Omada Health had a return on equity of 2.60% and a net margin of 1.39%.The company had revenue of $87.83 million for the quarter, compared to analysts' expectations of $80.93 million. On average, sell-side analysts forecast that Omada Health, Inc. will post -0.01 EPS for the current fiscal year.

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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