Madryn Asset Management LP Makes New Investment in Omada Health, Inc. $OMDA

Madryn Asset Management LP bought a new stake in Omada Health, Inc. (NASDAQ:OMDA) during the second quarter, HoldingsChannel.com reports. The firm bought 583,800 shares of the company’s stock, valued at approximately $12,814,410. Omada Health accounts for approximately 0.0% of Madryn Asset Management LP’s portfolio, making the stock its 2nd biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of OMDA. Raymond James Financial Inc. acquired a new position in shares of Omada Health during the 2nd quarter worth $32,000. Quarry LP acquired a new stake in Omada Health in the fourth quarter valued at about $29,000. Versant Capital Management Inc boosted its stake in Omada Health by 319.3% in the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock valued at $66,000 after buying an additional 2,283 shares in the last quarter. Legal & General Group Plc bought a new position in Omada Health in the second quarter valued at about $76,000. Finally, JPMorgan Chase & Co. bought a new position in Omada Health in the third quarter valued at about $82,000.

Omada Health Trading Down 2.4%

NASDAQ:OMDA opened at $23.69 on Friday. The stock’s 50-day moving average is $22.27 and its 200-day moving average is $17.16. Omada Health, Inc. has a 1-year low of $10.28 and a 1-year high of $26.92. The stock has a market cap of $1.45 billion, a P/E ratio of 473.80 and a beta of 1.73.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. The business had revenue of $87.83 million during the quarter, compared to analyst estimates of $80.93 million. As a group, equities analysts forecast that Omada Health, Inc. will post 0.09 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on OMDA. BTIG Research increased their target price on shares of Omada Health from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $30.00 price target on shares of Omada Health in a report on Monday, June 22nd. Barclays upped their price objective on shares of Omada Health from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. increased their price objective on shares of Omada Health from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Omada Health in a research note on Friday, August 14th. Eleven investment 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. According to MarketBeat, Omada Health has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Insider Buying and Selling

In other Omada Health news, President Wei-Li Shao sold 8,866 shares of Omada Health stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $25.02, for a total transaction of $221,827.32. Following the transaction, the president directly owned 307,372 shares of the company’s stock, valued at approximately $7,690,447.44. The trade was a 2.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $26,050.00. Following the completion of the sale, the chief accounting officer owned 15,441 shares in the company, valued at $386,025. This trade represents a 6.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 254,726 shares of company stock valued at $5,370,496. Company insiders own 6.38% of the company’s stock.

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.