Madryn Asset Management LP Acquires New Position in Omada Health, Inc. $OMDA

Madryn Asset Management LP acquired a new stake in Omada Health, Inc. (NASDAQ:OMDA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 583,800 shares of the company’s stock, valued at approximately $9,212,000. Omada Health comprises about 26.5% of Madryn Asset Management LP’s portfolio, making the stock its 2nd largest position.

A number of other hedge funds also recently bought and sold shares of OMDA. TD Waterhouse Canada Inc. acquired a new stake in Omada Health in the 4th quarter valued at about $32,000. Raymond James Financial Inc. acquired a new stake in Omada Health in the 2nd quarter valued at about $32,000. Strs Ohio acquired a new stake in Omada Health in the 3rd quarter valued at about $38,000. Inlight Wealth Management LLC acquired a new stake in Omada Health in the 4th quarter valued at about $45,000. Finally, JPMorgan Chase & Co. acquired a new stake in Omada Health in the 3rd quarter valued at about $82,000.

Omada Health Price Performance

Omada Health stock opened at $16.46 on Thursday. The firm has a 50 day simple moving average of $14.25 and a 200-day simple moving average of $14.97. Omada Health, Inc. has a 1-year low of $10.28 and a 1-year high of $28.40. The stock has a market cap of $978.55 million and a price-to-earnings ratio of -60.96.

Omada Health (NASDAQ:OMDA) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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 during the quarter. Equities analysts expect that Omada Health, Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Activity

In other news, President Wei-Li Shao sold 2,829 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $12.71, for a total value of $35,956.59. Following the completion of the sale, the president owned 328,850 shares of the company’s stock, valued at $4,179,683.50. This represents a 0.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sean P. Duffy sold 4,063 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $14.34, for a total transaction of $58,263.42. Following the completion of the sale, the chief executive officer directly owned 117,598 shares of the company’s stock, valued at approximately $1,686,355.32. This trade represents a 3.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,776 shares of company stock valued at $120,483 in the last 90 days. Company insiders own 6.38% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BMO Capital Markets cut their price objective on shares of Omada Health from $27.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, March 6th. JPMorgan Chase & Co. cut their price objective on shares of Omada Health from $32.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Citigroup reiterated an “outperform” rating on shares of Omada Health in a report on Friday, May 8th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price objective on shares of Omada Health in a report on Friday, May 8th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Omada Health in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $22.91.

Omada Health 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.