Walleye Capital LLC Invests $11.65 Million in Omada Health, Inc. $OMDA

Key Points

• Walleye Capital acquired 530,670 Omada Health shares worth approximately $11.65 million, giving it about a 0.89% stake. Several other institutional investors also increased or initiated positions.
• Omada Health exceeded quarterly expectations, reporting $0.08 EPS versus a $0.02 loss estimate and revenue of $87.83 million compared with expectations of $80.93 million.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $26.50 average price target, although insiders sold 254,726 shares worth about $5.37 million over the last quarter.

Walleye Capital LLC acquired a new stake in Omada Health, Inc. (NASDAQ:OMDA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 530,670 shares of the company's stock, valued at approximately $11,648,000. Walleye Capital LLC owned about 0.89% of Omada Health at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc lifted its position in shares of Omada Health by 319.3% in the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company's stock worth $66,000 after buying an additional 2,283 shares during the last quarter. Bank of America Corp DE lifted its holdings in Omada Health by 51.5% in the 1st quarter. Bank of America Corp DE now owns 161,099 shares of the company's stock worth $2,025,000 after purchasing an additional 54,792 shares during the last quarter. Stoic Point Capital Management LLC bought a new stake in Omada Health during the first quarter worth approximately $1,830,000. Quantinno Capital Management LP grew its holdings in Omada Health by 464.1% during the first quarter. Quantinno Capital Management LP now owns 58,723 shares of the company's stock valued at $738,000 after purchasing an additional 48,313 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Omada Health in the first quarter valued at approximately $194,000.

Insider Buying and Selling at Omada Health

In other news, CEO Sean P. Duffy sold 25,886 shares of the business's stock in a transaction dated 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 in the company, valued at approximately $9,341,007.48. The trade was a 5.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven L. Cook sold 33,000 shares of the company's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $19.89, for a total transaction of $656,370.00. Following the transaction, the chief financial officer directly owned 133,359 shares of the company's stock, valued at $2,652,510.51. This represents a 19.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 254,726 shares of company stock valued at $5,370,496. Corporate insiders own 6.38% of the company's stock.

Omada Health Stock Down 1.4%

Shares of OMDA stock opened at $24.04 on Friday. Omada Health, Inc. has a 12 month low of $10.28 and a 12 month high of $26.92. The firm has a market cap of $1.47 billion, a PE ratio of 480.80 and a beta of 1.73. The stock has a 50 day moving average of $20.99 and a 200-day moving average of $16.49.

Omada Health (NASDAQ:OMDA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $80.93 million. As a group, equities analysts predict that Omada Health, Inc. will post -0.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BTIG Research upped their price objective on shares of Omada Health from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Monday. The Goldman Sachs Group reiterated a "buy" rating on shares of Omada Health in a report on Friday, May 8th. Citizens Jmp boosted their target price on shares of Omada Health from $27.00 to $32.00 and gave the stock a "market outperform" rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on shares of Omada Health from $26.00 to $30.00 and gave the company an "overweight" rating in a report on Friday. Finally, Weiss Ratings raised Omada Health from a "sell (e+)" rating to a "sell (d+)" rating in a research report on Tuesday. Eleven 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's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $26.50.

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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