Omada Health (NASDAQ:OMDA) Price Target Raised to $32.00 at Citizens Jmp

Omada Health (NASDAQ:OMDA) had its price objective lifted by Citizens Jmp from $27.00 to $32.00 in a report released on Friday morning,Benzinga reports. They currently have a market outperform rating on the stock.

A number of other research firms also recently weighed in on OMDA. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Omada Health in a report on Friday, May 8th. Weiss Ratings raised Omada Health from a “sell (e+)” rating to a “sell (d+)” rating in a research note on Tuesday. Morgan Stanley reiterated an “overweight” rating and issued a $30.00 price objective on shares of Omada Health in a report on Monday, June 22nd. Wall Street Zen raised Omada Health from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Robert W. Baird upped their target price on shares of Omada Health from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Omada Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.50.

Omada Health Trading Down 1.4%

NASDAQ:OMDA opened at $24.04 on Friday. The company has a 50-day moving average price of $20.99 and a 200-day moving average price of $16.49. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 480.80 and a beta of 1.73. Omada Health has a 12 month low of $10.28 and a 12 month high of $26.92.

Omada Health (NASDAQ:OMDA) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.10. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. The company had revenue of $87.83 million for the quarter, compared to analysts’ expectations of $80.93 million. Equities analysts forecast that Omada Health will post -0.01 EPS for the current fiscal year.

Insider Activity at Omada Health

In other Omada Health news, CFO Steven L. Cook sold 33,000 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $19.89, for a total transaction of $656,370.00. Following the sale, the chief financial officer directly owned 133,359 shares in the company, valued at approximately $2,652,510.51. This trade represents a 19.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sean P. Duffy sold 25,886 shares of Omada Health stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total value of $587,094.48. Following the completion of the sale, the chief executive officer directly owned 411,861 shares of the company’s stock, valued at approximately $9,341,007.48. The trade was a 5.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 254,726 shares of company stock worth $5,370,496 over the last ninety days. 6.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Omada Health

Several hedge funds and other institutional investors have recently bought and sold shares of OMDA. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Omada Health in the fourth quarter valued at about $1,222,000. a16z Perennial Management L.P. bought a new stake in shares of Omada Health during the 4th quarter valued at about $2,480,000. Madryn Asset Management LP bought a new stake in shares of Omada Health during the 4th quarter valued at about $9,212,000. Parallel Advisors LLC increased its position in shares of Omada Health by 12,235.9% during the 4th quarter. Parallel Advisors LLC now owns 123,359 shares of the company’s stock valued at $1,947,000 after purchasing an additional 122,359 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Omada Health in the 1st quarter worth approximately $1,144,000.

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.