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

Shares of Omada Health, Inc. (NASDAQ:OMDA) have received a consensus rating of “Moderate Buy” from the fourteen research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $24.75.

Several research firms recently commented on OMDA. Canaccord Genuity Group raised their price objective on shares of Omada Health from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. BTIG Research started coverage on Omada Health in a research report on Friday, July 17th. They set a “buy” rating and a $30.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Omada Health in a report on Friday, May 8th. Evercore reiterated an “outperform” rating and issued a $20.00 price target on shares of Omada Health in a research report on Friday, May 8th. Finally, Citigroup reissued an “outperform” rating on shares of Omada Health in a report on Monday, July 20th.

Insider Activity

In related news, CEO Sean P. Duffy sold 12,944 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $20.40, for a total transaction of $264,057.60. Following the completion of the transaction, the chief executive officer owned 411,861 shares of the company’s stock, valued at approximately $8,401,964.40. The trade was a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Craig Gracey sold 2,083 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $21.00, for a total transaction of $43,743.00. Following the sale, the chief accounting officer directly owned 858 shares in the company, valued at $18,018. This trade represents a 70.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 206,406 shares of company stock worth $4,191,483 over the last ninety days. Company insiders own 6.38% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Perceptive Advisors LLC bought a new position in shares of Omada Health in the 2nd quarter worth $44,402,000. Millennium Management LLC grew its position in Omada Health by 1,195.0% in the fourth 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 in the last quarter. Loomis Sayles & Co. L P grew its position in Omada Health by 23.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock worth $29,283,000 after acquiring an additional 346,588 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in Omada Health in the fourth quarter valued at $16,948,000. Finally, BIT Capital GmbH raised its position in Omada Health by 52.4% during the fourth quarter. BIT Capital GmbH now owns 940,238 shares of the company’s stock valued at $14,837,000 after purchasing an additional 323,365 shares in the last quarter.

Omada Health Stock Performance

Shares of Omada Health stock opened at $19.11 on Thursday. Omada Health has a 52-week low of $10.28 and a 52-week high of $26.92. The stock’s 50-day simple moving average is $20.21 and its 200 day simple moving average is $16.12. The stock has a market capitalization of $1.14 billion, a P/E ratio of -70.78 and a beta of 1.73.

Omada Health (NASDAQ:OMDA) last posted its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $78.05 million during the quarter. Omada Health had a negative net margin of 2.22% and a negative return on equity of 1.82%. Equities research analysts forecast that Omada Health will post -0.01 EPS for the current fiscal 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.