Ieq Capital LLC Makes New Investment in Omada Health, Inc. $OMDA

Ieq Capital LLC acquired a new position in shares of Omada Health, Inc. (NASDAQ:OMDA) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 78,742 shares of the company’s stock, valued at approximately $1,728,000.

A number of other large investors also recently made changes to their positions in the company. Perceptive Advisors LLC acquired a new stake in Omada Health during the 2nd quarter worth approximately $44,402,000. BlackRock Inc. acquired a new position in Omada Health in the 2nd quarter valued at $48,775,000. Millennium Management LLC grew its holdings in Omada Health by 1,195.0% in the 4th quarter. Millennium Management LLC now owns 2,272,168 shares of the company’s stock valued at $35,855,000 after buying an additional 2,096,705 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Omada Health during the 4th quarter worth $16,948,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Omada Health during the first quarter worth $10,401,000.

Omada Health Stock Performance

OMDA opened at $23.94 on Wednesday. Omada Health, Inc. has a 52-week low of $10.28 and a 52-week high of $26.92. The firm has a market cap of $1.47 billion, a P/E ratio of 478.80 and a beta of 1.73. The business’s fifty day moving average is $21.89 and its 200-day moving average is $16.94.

Omada Health (NASDAQ:OMDA) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.08 EPS for the quarter, beating 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 business had revenue of $87.83 million during the quarter, compared to the consensus estimate of $80.93 million. On average, research analysts predict that Omada Health, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Activity at Omada Health

In other Omada Health news, CFO Steven L. Cook sold 33,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $19.89, for a total transaction of $656,370.00. Following the completion of the transaction, the chief financial officer directly owned 133,359 shares in the company, valued at $2,652,510.51. The trade was a 19.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sean P. Duffy sold 25,886 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total value of $587,094.48. Following the sale, the chief executive officer owned 411,861 shares of the company’s stock, valued at $9,341,007.48. The trade was a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 254,726 shares of company stock valued at $5,370,496 over the last 90 days. Corporate insiders own 6.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on OMDA shares. Robert W. Baird boosted their target price on shares of Omada Health from $15.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, August 12th. Wall Street Zen upgraded shares of Omada Health from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Omada Health from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Barclays increased their target price on shares of Omada Health from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Omada Health in a report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Omada Health presently has a consensus rating of “Moderate Buy” and an average price target of $26.50.

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.