Parallel Advisors LLC Grows Stock Holdings in Omada Health, Inc. $OMDA

Parallel Advisors LLC lifted its stake in shares of Omada Health, Inc. (NASDAQ:OMDA) by 12,235.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 123,359 shares of the company’s stock after acquiring an additional 122,359 shares during the quarter. Parallel Advisors LLC owned approximately 0.21% of Omada Health worth $1,947,000 at the end of the most recent reporting period.

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

Omada Health Trading Down 1.5%

OMDA opened at $17.93 on Friday. The firm has a market cap of $1.07 billion and a price-to-earnings ratio of -66.41. Omada Health, Inc. has a 12 month low of $10.28 and a 12 month high of $28.40. The stock has a fifty day moving average price of $14.83 and a 200-day moving average price of $14.88.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings data 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. The company had revenue of $78.05 million for the quarter. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%. On average, equities research analysts forecast that Omada Health, Inc. will post -0.01 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on OMDA shares. Barclays raised their price target on Omada Health from $18.00 to $20.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Omada Health in a report on Friday, May 8th. JPMorgan Chase & Co. cut their target price on shares of Omada Health from $32.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. Citigroup restated an “outperform” rating on shares of Omada Health in a report on Friday, May 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.91.

Insider Activity

In other news, President Wei-Li Shao sold 2,829 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $12.71, for a total value of $35,956.59. Following the sale, the president directly owned 328,850 shares in the company, valued at approximately $4,179,683.50. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven L. Cook sold 1,884 shares of the business’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $13.94, for a total transaction of $26,262.96. Following the transaction, the chief financial officer owned 200,512 shares of the company’s stock, valued at approximately $2,795,137.28. This trade represents a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 8,776 shares of company stock worth $120,483. Corporate insiders own 6.38% of the company’s stock.

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.