Independent Advisor Alliance Takes Position in Omada Health, Inc. $OMDA

Independent Advisor Alliance acquired a new stake in shares of Omada Health, Inc. (NASDAQ:OMDA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 45,426 shares of the company’s stock, valued at approximately $717,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Perceptive Advisors LLC purchased a new position in Omada Health during the second quarter valued at approximately $44,402,000. Divisadero Street Capital Management LP purchased a new stake in Omada Health during the 3rd quarter valued at approximately $30,510,000. BIT Capital GmbH bought a new stake in Omada Health in the 3rd quarter valued at $13,639,000. Vanguard Group Inc. lifted its position in shares of Omada Health by 642.8% in the third quarter. Vanguard Group Inc. now owns 482,790 shares of the company’s stock worth $10,674,000 after buying an additional 417,790 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new stake in shares of Omada Health during the 3rd quarter worth approximately $4,440,000.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on OMDA shares. Weiss Ratings restated a “sell (d)” rating on shares of Omada Health in a research report on Thursday, January 22nd. JPMorgan Chase & Co. decreased their price target on Omada Health from $32.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, March 12th. Citizens Jmp raised their price target on Omada Health from $18.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Friday, May 8th. Evercore reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Omada Health in a research note on Friday, May 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of Omada Health in a research report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.91.

Insider Transactions at Omada Health

In other news, CEO Sean P. Duffy sold 4,063 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $14.34, for a total value of $58,263.42. Following the transaction, the chief executive officer directly owned 117,598 shares in the company, valued at approximately $1,686,355.32. This represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Wei-Li Shao sold 2,829 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $12.71, for a total transaction of $35,956.59. Following the completion of the transaction, the president directly owned 328,850 shares in the company, valued at $4,179,683.50. This represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 8,776 shares of company stock worth $120,483. 6.38% of the stock is currently owned by insiders.

Omada Health Stock Performance

OMDA opened at $16.56 on Friday. The stock’s 50 day moving average price is $13.89 and its 200-day moving average price is $15.51. Omada Health, Inc. has a one year low of $10.28 and a one year high of $28.40. The stock has a market cap of $984.49 million and a price-to-earnings ratio of -61.33.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%.The firm had revenue of $78.05 million during the quarter. As a group, analysts predict that Omada Health, Inc. will post -0.04 earnings per share for the current fiscal year.

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.