Omada Health, Inc. (NASDAQ:OMDA) Given Consensus Rating of “Moderate Buy” by Analysts

Omada Health, Inc. (NASDAQ:OMDA) has been assigned an average rating of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, ten have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $23.50.

OMDA has been the topic of a number of analyst reports. Wall Street Zen cut shares of Omada Health from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays increased their target price on shares of Omada Health from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Evercore reissued an “outperform” rating and issued a $20.00 target price on shares of Omada Health in a research note on Friday, May 8th. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Omada Health in a report on Friday, May 8th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Omada Health in a research report on Friday, May 8th.

Insider Activity at Omada Health

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

Institutional Investors Weigh In On Omada Health

A number of large investors have recently modified their holdings of OMDA. Perceptive Advisors LLC bought a new stake in Omada Health during the 2nd quarter valued at approximately $44,402,000. Millennium Management LLC grew its holdings in shares of Omada Health by 1,195.0% during the 4th quarter. Millennium Management LLC now owns 2,272,168 shares of the company’s stock worth $35,855,000 after acquiring an additional 2,096,705 shares during the period. Divisadero Street Capital Management LP bought a new position in shares of Omada Health in the 3rd quarter worth approximately $30,510,000. Jefferies Financial Group Inc. bought a new position in shares of Omada Health in the 4th quarter worth approximately $16,948,000. Finally, SG Americas Securities LLC purchased a new position in shares of Omada Health in the 1st quarter valued at approximately $10,401,000.

Omada Health Stock Performance

Shares of OMDA stock opened at $23.70 on Friday. Omada Health has a fifty-two week low of $10.28 and a fifty-two week high of $26.92. The stock has a 50 day moving average price of $19.01 and a two-hundred day moving average price of $15.66. The company has a market capitalization of $1.41 billion and a P/E ratio of -87.78.

Omada Health (NASDAQ:OMDA) last issued its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $78.05 million for the quarter. As a group, equities analysts predict that Omada Health will post -0.01 earnings per share for the current 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.