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

Stoic Point Capital Management LLC bought a new stake in Omada Health, Inc. (NASDAQ:OMDA) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 145,591 shares of the company’s stock, valued at approximately $1,830,000. Omada Health comprises approximately 1.8% of Stoic Point Capital Management LLC’s portfolio, making the stock its 10th biggest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Perceptive Advisors LLC purchased a new stake in shares of Omada Health during the 2nd quarter worth approximately $44,402,000. Millennium Management LLC lifted its stake in Omada Health by 1,195.0% in the fourth quarter. Millennium Management LLC now owns 2,272,168 shares of the company’s stock valued at $35,855,000 after purchasing an additional 2,096,705 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in Omada Health by 23.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock valued at $29,283,000 after purchasing an additional 346,588 shares during the last quarter. Jefferies Financial Group Inc. bought a new position in Omada Health during the fourth quarter valued at $16,948,000. Finally, BIT Capital GmbH grew its holdings in Omada Health by 52.4% during the fourth quarter. BIT Capital GmbH now owns 940,238 shares of the company’s stock valued at $14,837,000 after purchasing an additional 323,365 shares during the period.

Insider Activity

In other news, CAO Craig Gracey sold 6,894 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $17.42, for a total transaction of $120,093.48. Following the completion of the transaction, the chief accounting officer directly owned 9,191 shares in the company, valued at $160,107.22. The trade was a 42.86% decrease in their position. The transaction 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 transaction of $587,094.48. Following the completion of the transaction, the chief executive officer directly 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 SEC filing for this sale provides additional information. Insiders sold 193,462 shares of company stock worth $3,927,425 in the last three months. Corporate insiders own 6.38% of the company’s stock.

Omada Health Trading Down 0.7%

OMDA stock opened at $20.43 on Wednesday. The firm has a 50 day moving average of $19.80 and a 200-day moving average of $15.95. Omada Health, Inc. has a 12 month low of $10.28 and a 12 month high of $26.92. The firm has a market capitalization of $1.21 billion and a P/E ratio of -75.67.

Omada Health (NASDAQ:OMDA) last posted its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping 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 business had revenue of $78.05 million for the quarter. Sell-side analysts predict that Omada Health, Inc. will post -0.01 EPS for the current year.

Analysts Set New Price Targets

OMDA has been the topic of several research reports. Morgan Stanley restated an “overweight” rating and issued a $30.00 target price on shares of Omada Health in a research note on Monday, June 22nd. Citigroup reiterated an “outperform” rating on shares of Omada Health in a research note on Monday, July 20th. Barclays lifted their price objective on Omada Health from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of Omada Health in a research note on Friday, May 8th. Finally, Evercore reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Omada Health in a report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Omada Health currently has an average rating of “Moderate Buy” and an average price target of $24.33.

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.