Rock Springs Capital Management LP Has $6.80 Million Stock Holdings in Omada Health, Inc. $OMDA

Key Points

• Rock Springs Capital Management cut its Omada Health position by 26.9%, selling 199,000 shares and retaining 541,000 shares worth approximately $6.8 million, or 0.91% of the company.
• Several institutional investors initiated new positions in Omada during the second quarter, while company insiders sold 193,462 shares worth about $3.93 million in the latest quarter.
• Omada reported quarterly revenue of $78.05 million and an adjusted loss of $0.05 per share, beating expectations. Analysts maintain a “Moderate Buy” consensus, with an average price target of $24.33 versus the stock’s $20.58 opening price.

Rock Springs Capital Management LP decreased its position in Omada Health, Inc. (NASDAQ:OMDA - Free Report) by 26.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 541,000 shares of the company's stock after selling 199,000 shares during the quarter. Rock Springs Capital Management LP owned approximately 0.91% of Omada Health worth $6,800,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Omada Health

In other news, CEO Sean P. Duffy sold 25,886 shares of Omada Health stock in a transaction that occurred 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 sale, the chief executive officer 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Craig Gracey sold 6,894 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.42, for a total value of $120,093.48. Following the sale, the chief accounting officer owned 9,191 shares in the company, valued at approximately $160,107.22. This represents a 42.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 193,462 shares of company stock valued at $3,927,425 in the last quarter. Corporate insiders own 6.38% of the company's stock.

Omada Health Stock Performance

NASDAQ:OMDA opened at $20.58 on Tuesday. The firm's 50-day moving average is $19.72 and its 200-day moving average is $15.93. The company has a market cap of $1.22 billion and a price-to-earnings ratio of -76.22. Omada Health, Inc. has a 52-week low of $10.28 and a 52-week high of $26.92.

Omada Health (NASDAQ:OMDA - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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 during the quarter. Equities analysts predict that Omada Health, Inc. will post -0.01 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on OMDA shares. The Goldman Sachs Group reissued a "buy" rating on shares of Omada Health in a research report on Friday, May 8th. Barclays raised their target price on Omada Health from $18.00 to $20.00 and gave the company an "overweight" rating in a report on Friday, May 8th. BTIG Research began coverage on Omada Health in a research report on Friday, July 17th. They issued a "buy" rating and a $30.00 price target on the stock. Citigroup reiterated an "outperform" rating on shares of Omada Health in a report on Monday, July 20th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $28.00 price objective on shares of Omada Health in a research report on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $24.33.

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.

Want to see what other hedge funds are holding OMDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Omada Health, Inc. (NASDAQ:OMDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.