Omada Health, Inc. (NASDAQ:OMDA) Stock Has Average Price Target of $26.67

Omada Health, Inc. (NASDAQ:OMDA) has earned a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $26.67.

OMDA has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $28.00 price target on shares of Omada Health in a research report on Friday, September 11th. BMO Capital Markets reiterated an “outperform” rating and issued a $24.00 price objective on shares of Omada Health in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on Omada Health from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Barclays increased their target price on Omada Health from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, September 11th. Finally, Canaccord Genuity Group raised their target price on Omada Health from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st.

Insider Transactions at Omada Health

In other news, CEO Sean Duffy sold 21,572 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $23.62, for a total transaction of $509,530.64. Following the sale, the chief executive officer directly owned 411,861 shares of the company’s stock, valued at $9,728,156.82. This represents a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Wei-Li Shao sold 8,866 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $25.02, for a total value of $221,827.32. Following the completion of the transaction, the president owned 307,372 shares in the company, valued at $7,690,447.44. The trade was a 2.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 127,642 shares of company stock worth $2,915,201. Corporate insiders own 6.38% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Sterling Capital Management LLC grew its position in shares of Omada Health by 1,161.6% during the 3rd quarter. Sterling Capital Management LLC now owns 1,577 shares of the company’s stock worth $33,000 after buying an additional 1,452 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Omada Health during the second quarter worth approximately $53,000. State of Alaska Department of Revenue bought a new stake in shares of Omada Health during the third quarter worth approximately $59,000. Versant Capital Management Inc lifted its holdings 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 during the period. Finally, Legal & General Group Plc acquired a new position in Omada Health in the second quarter valued at approximately $76,000.

Omada Health Trading Down 0.2%

OMDA opened at $18.95 on Tuesday. The stock has a market cap of $1.16 billion, a PE ratio of 379.00 and a beta of 2.03. Omada Health has a 1 year low of $10.28 and a 1 year high of $26.92. The stock’s 50 day simple moving average is $21.20 and its 200-day simple moving average is $19.33.

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

About Omada Health

Omada Health, Inc (NASDAQ: OMDA) is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines personalized health coaching, clinical support, behavioral-change tools and connected devices to help members monitor and improve their health.

The company’s offerings focus primarily on cardiometabolic conditions, including diabetes, prediabetes, hypertension and obesity, as well as musculoskeletal conditions. Depending on the program, members may receive access to digital lessons, health tracking, remote monitoring, care teams and clinical guidance through Omada’s technology platform.

Omada Health was founded in 2011 and serves employers, health plans and other healthcare organizations in the United States.