Squarepoint Ops LLC Acquires Shares of 93,140 Omada Health, Inc. $OMDA

Key Points

• Squarepoint Ops LLC acquired 93,140 Omada Health shares worth approximately $2.04 million, representing 0.15% ownership. Several other institutional investors also initiated or increased positions during the second quarter.
• Omada reported quarterly earnings of $0.08 per share, exceeding the consensus estimate of a $0.02 loss, while revenue of $87.83 million surpassed expectations of $80.93 million.
• Analysts remain broadly positive, with 11 Buy ratings, two Holds and one Sell; the stock has a “Moderate Buy” consensus and an average price target of $26.67 versus a recent price of $20.50. However, insiders sold 270,603 shares worth about $5.91 million over the past three months.

Squarepoint Ops LLC acquired a new position in shares of Omada Health, Inc. (NASDAQ:OMDA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 93,140 shares of the company's stock, valued at approximately $2,044,000. Squarepoint Ops LLC owned 0.15% of Omada Health at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Versant Capital Management Inc raised its stake in Omada Health by 319.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,998 shares of the company's stock worth $66,000 after purchasing an additional 2,283 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Omada Health during the 2nd quarter worth approximately $76,000. The Manufacturers Life Insurance Company bought a new position in shares of Omada Health during the second quarter worth approximately $215,000. Fifth Third Bancorp bought a new position in shares of Omada Health during the first quarter worth approximately $127,000. Finally, California State Teachers Retirement System raised its position in shares of Omada Health by 465.1% in the second quarter. California State Teachers Retirement System now owns 10,229 shares of the company's stock valued at $225,000 after buying an additional 8,419 shares in the last quarter.

Insiders Place Their Bets

In related news, CFO Steven L. Cook sold 33,000 shares of the firm's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $19.89, for a total value of $656,370.00. Following the sale, the chief financial officer directly owned 133,359 shares of the company's stock, valued at $2,652,510.51. This trade represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sean P. Duffy sold 25,886 shares of Omada Health stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total value of $587,094.48. Following the completion of the transaction, the chief executive officer owned 411,861 shares in the company, valued at approximately $9,341,007.48. This represents a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 270,603 shares of company stock valued at $5,909,653 in the last three months. 6.38% of the stock is owned by insiders.

Omada Health Price Performance

Shares of NASDAQ:OMDA opened at $20.50 on Tuesday. Omada Health, Inc. has a 1 year low of $10.28 and a 1 year high of $26.92. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 410.00 and a beta of 1.86. The company's 50 day simple moving average is $22.58 and its 200 day simple moving average is $18.03.

Omada Health (NASDAQ:OMDA - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.10. The firm had revenue of $87.83 million during the quarter, compared to analysts' expectations of $80.93 million. Omada Health had a return on equity of 2.60% and a net margin of 1.39%. As a group, analysts anticipate that Omada Health, Inc. will post 0.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BMO Capital Markets reiterated an "outperform" rating and issued a $24.00 price target on shares of Omada Health in a research note on Friday, August 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of Omada Health in a report on Monday, June 22nd. Barclays upped their target price on Omada Health from $25.00 to $27.00 and gave the company an "overweight" rating in a research report on Friday. Citizens Jmp increased their target price on Omada Health from $27.00 to $32.00 and gave the stock a "market outperform" rating in a report on Friday, August 14th. Finally, JPMorgan Chase & Co. raised their price target on Omada Health from $26.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Omada Health presently has an average rating of "Moderate Buy" and an average price target of $26.67.

Omada Health Profile

Omada Health, Inc is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines clinical care, health coaching, connected devices, digital tools and personalized support to help members improve health outcomes and manage conditions over time.

The company's offerings address areas including diabetes, hypertension, weight health and musculoskeletal conditions. Omada's programs are designed to support prevention and ongoing care through services such as remote monitoring, personalized health guidance, educational content and access to healthcare professionals.

Omada primarily serves members through employers, health plans and healthcare organizations in the United States.

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