Stoic Point Capital Management LLC Makes New Investment in Omada Health, Inc. $OMDA

Key Points

• Stoic Point Capital Management initiated a 145,591-share Omada Health position worth approximately $1.83 million, representing 1.8% of its portfolio and 0.24% of Omada’s outstanding shares. Several other institutional investors also recently opened positions.
• Analyst sentiment remains broadly positive: 11 analysts rate OMDA a Buy, with a consensus “Moderate Buy” rating and a $24.33 price target. Canaccord Genuity and BTIG Research set targets of $28 and $30, respectively.
• Omada’s CEO and CFO sold shares, contributing to $3.93 million in insider sales over the past 90 days. The stock opened at $20.43, while the company reported quarterly revenue of $78.05 million and an adjusted loss of $0.05 per share, beating estimates.

Stoic Point Capital Management LLC purchased a new stake in Omada Health, Inc. (NASDAQ:OMDA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 145,591 shares of the company's stock, valued at approximately $1,830,000. Omada Health accounts for about 1.8% of Stoic Point Capital Management LLC's holdings, making the stock its 10th biggest holding. Stoic Point Capital Management LLC owned 0.24% of Omada Health as of its most recent SEC filing.

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

Insider Buying and Selling at Omada Health

In other Omada Health news, CEO Sean P. Duffy sold 25,886 shares of Omada Health stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total transaction of $587,094.48. Following the transaction, the chief executive officer owned 411,861 shares of the company's stock, valued at $9,341,007.48. This trade represents a 5.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven L. Cook sold 12,337 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $23.09, for a total value of $284,861.33. Following the completion of the transaction, 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. In the last 90 days, insiders sold 193,462 shares of company stock worth $3,927,425. Insiders own 6.38% of the company's stock.

Analyst Upgrades and Downgrades

OMDA has been the topic of several research reports. Citigroup reiterated an "outperform" rating on shares of Omada Health in a report on Monday, July 20th. Canaccord Genuity Group raised their target price on Omada Health from $24.00 to $28.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Wells Fargo & Company boosted their target price on Omada Health from $17.00 to $18.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. BTIG Research assumed coverage on Omada Health in a research note on Friday, July 17th. They set a "buy" rating and a $30.00 price target on the stock. Finally, Wall Street Zen lowered Omada Health from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $24.33.

Omada Health Price Performance

OMDA opened at $20.43 on Wednesday. Omada Health, Inc. has a 1 year low of $10.28 and a 1 year high of $26.92. The company has a market capitalization of $1.21 billion and a price-to-earnings ratio of -75.67. The firm's fifty day moving average price is $19.80 and its two-hundred day moving average price is $15.95.

Omada Health (NASDAQ:OMDA - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share 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 company had revenue of $78.05 million for the quarter. As a group, equities analysts anticipate that Omada Health, Inc. will post -0.01 EPS for the current year.

Omada Health 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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