Omada Health’s (OMDA) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Omada Health (NASDAQ:OMDA) in a research report released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $28.00 price objective on the stock.

Several other equities analysts also recently commented on OMDA. BMO Capital Markets began coverage on shares of Omada Health in a research note on Thursday, November 13th. They issued an “outperform” rating and a $27.00 price target for the company. The Goldman Sachs Group reiterated a “buy” rating and issued a $26.00 target price on shares of Omada Health in a report on Friday, January 16th. Wells Fargo & Company started coverage on Omada Health in a report on Thursday, January 8th. They set an “equal weight” rating and a $17.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Omada Health in a research report on Wednesday, October 8th. Finally, Barclays decreased their price objective on Omada Health from $29.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, January 5th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Omada Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.10.

Omada Health Stock Up 2.9%

Shares of OMDA opened at $16.52 on Thursday. Omada Health has a fifty-two week low of $14.14 and a fifty-two week high of $28.40. The firm’s 50 day moving average price is $16.38 and its 200 day moving average price is $19.90. The company has a market cap of $956.67 million and a P/E ratio of -66.08.

Insider Activity

In other news, CEO Sean P. Duffy sold 230,479 shares of the stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $15.60, for a total value of $3,595,472.40. Following the transaction, the chief executive officer owned 126,644 shares in the company, valued at approximately $1,975,646.40. This represents a 64.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Wei-Li Shao sold 5,618 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $16.13, for a total value of $90,618.34. Following the sale, the president owned 69,079 shares of the company’s stock, valued at approximately $1,114,244.27. The trade was a 7.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 276,893 shares of company stock valued at $4,336,787.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Sanofi purchased a new position in shares of Omada Health in the 2nd quarter valued at $9,606,000. Teacher Retirement System of Texas acquired a new position in Omada Health in the second quarter valued at $640,000. Jennison Associates LLC purchased a new position in shares of Omada Health during the second quarter worth about $4,580,000. Emerald Advisers LLC acquired a new stake in shares of Omada Health during the second quarter worth about $5,089,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Omada Health during the second quarter worth about $2,950,000.

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.