Rock Springs Capital Management LP Sells 199,000 Shares of Omada Health, Inc. $OMDA

Rock Springs Capital Management LP reduced its holdings in shares of Omada Health, Inc. (NASDAQ:OMDA) by 26.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 541,000 shares of the company’s stock after selling 199,000 shares during the period. Rock Springs Capital Management LP’s holdings in Omada Health were worth $6,800,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Omada Health in the second quarter worth about $32,000. Quarry LP acquired a new stake in Omada Health during the fourth quarter valued at approximately $29,000. TD Waterhouse Canada Inc. bought a new stake in shares of Omada Health in the 4th quarter valued at approximately $32,000. Inlight Wealth Management LLC bought a new stake in shares of Omada Health in the 4th quarter valued at approximately $45,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Omada Health in the 3rd quarter worth approximately $82,000.

Insiders Place Their Bets

In other news, CAO Craig Gracey sold 6,894 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.42, for a total value of $120,093.48. Following the completion of the sale, the chief accounting officer directly owned 9,191 shares in the company, valued at approximately $160,107.22. This trade represents a 42.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sean P. Duffy sold 25,886 shares of Omada Health stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total value of $587,094.48. Following the completion of the transaction, the chief executive officer directly owned 411,861 shares of the company’s stock, valued at $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 193,462 shares of company stock valued at $3,927,425. 6.38% of the stock is currently owned by corporate insiders.

Omada Health Trading Up 0.2%

NASDAQ OMDA opened at $20.58 on Tuesday. The firm has a market cap of $1.22 billion and a price-to-earnings ratio of -76.22. Omada Health, Inc. has a 1-year low of $10.28 and a 1-year high of $26.92. The company has a 50 day moving average of $19.72 and a 200-day moving average of $15.93.

Omada Health (NASDAQ:OMDA) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) 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 business had revenue of $78.05 million for the quarter. On average, analysts forecast that Omada Health, Inc. will post -0.01 earnings per share for the current year.

Analyst Ratings Changes

OMDA has been the subject of several analyst reports. Citigroup restated an “outperform” rating on shares of Omada Health in a research report on Monday, July 20th. The Goldman Sachs Group reiterated a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. Citizens Jmp increased their price objective on Omada Health from $21.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Monday, July 20th. Wall Street Zen cut Omada Health from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. Finally, BTIG Research initiated coverage on shares of Omada Health in a research note on Friday, July 17th. They issued a “buy” rating and a $30.00 target price on the stock. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Omada Health currently has an average rating of “Moderate Buy” and a consensus target price 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.