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

Walleye Capital LLC acquired a new stake in shares of Omada Health, Inc. (NASDAQ:OMDA) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 530,670 shares of the company’s stock, valued at approximately $11,648,000.

Other large investors have also modified their holdings of the company. Perceptive Advisors LLC bought a new position in Omada Health in the second quarter worth $44,402,000. Millennium Management LLC increased 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 during the period. Loomis Sayles & Co. L P increased its holdings in Omada Health by 23.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock valued at $29,283,000 after buying an additional 346,588 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Omada Health in the 4th quarter valued at $16,948,000. Finally, BIT Capital GmbH raised its stake in shares of Omada Health by 52.4% in the 4th quarter. BIT Capital GmbH now owns 940,238 shares of the company’s stock valued at $14,837,000 after buying an additional 323,365 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on OMDA. BMO Capital Markets reiterated an “outperform” rating and set a $24.00 target price on shares of Omada Health in a research report on Friday, August 7th. BTIG Research upped their target price on shares of Omada Health from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Omada Health in a research report on Friday, May 8th. Evercore restated an “outperform” rating and set a $20.00 price target on shares of Omada Health in a research note on Friday, May 8th. Finally, Wall Street Zen raised Omada Health from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Insider Activity

In other Omada Health news, CAO Craig Gracey sold 1,042 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $25.00, for a total transaction of $26,050.00. Following the sale, the chief accounting officer directly owned 15,441 shares of the company’s stock, valued at approximately $386,025. This represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven L. Cook sold 1,607 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $25.01, for a total transaction of $40,191.07. Following the sale, the chief financial officer directly owned 187,209 shares of the company’s stock, valued at approximately $4,682,097.09. The trade was a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 254,726 shares of company stock worth $5,370,496. Company insiders own 6.38% of the company’s stock.

Omada Health Price Performance

Omada Health stock opened at $24.04 on Friday. The firm has a market capitalization of $1.47 billion, a P/E ratio of 480.80 and a beta of 1.73. The stock has a fifty day moving average price of $20.99 and a two-hundred day moving average price of $16.49. Omada Health, Inc. has a 52-week low of $10.28 and a 52-week high of $26.92.

Omada Health (NASDAQ:OMDA) last issued its earnings results on Thursday, August 6th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.10. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. The company had revenue of $87.83 million for the quarter, compared to the consensus estimate of $80.93 million. On average, equities research analysts predict that Omada Health, Inc. will post -0.01 EPS for the current fiscal year.

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.