Omada Health (NASDAQ:OMDA) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Omada Health (NASDAQ:OMDA) from a buy rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Several other research firms have also weighed in on OMDA. BTIG Research restated a “buy” rating and set a $35.00 price target on shares of Omada Health in a research report on Friday, September 11th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Omada Health in a research note on Friday, September 11th. Citigroup reissued an “outperform” rating on shares of Omada Health in a research report on Friday, August 14th. BMO Capital Markets restated an “outperform” rating and set a $24.00 price target on shares of Omada Health in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on shares of Omada Health from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Omada Health Trading Down 0.2%

OMDA stock opened at $20.37 on Friday. The stock has a market cap of $1.25 billion, a P/E ratio of 407.40 and a beta of 2.03. The stock’s fifty day simple moving average is $21.80 and its two-hundred day simple moving average is $18.66. Omada Health has a 1-year low of $10.28 and a 1-year high of $26.92.

Omada Health (NASDAQ:OMDA) last announced its 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. The firm 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%. As a group, analysts forecast that Omada Health will post 0.09 earnings per share for the current fiscal year.

Insider Transactions at Omada Health

In other Omada Health news, CEO Sean Duffy sold 14,960 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $21.87, for a total transaction of $327,175.20. Following the sale, the chief executive officer directly owned 382,594 shares of the company’s stock, valued at $8,367,330.78. This represents a 3.76% 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 4,036 shares of Omada Health stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $21.85, for a total transaction of $88,186.60. Following the completion of the transaction, the president owned 295,313 shares of the company’s stock, valued at $6,452,589.05. The trade was a 1.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 122,721 shares of company stock valued at $2,843,167. 6.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc grew its holdings in Omada Health by 319.3% during the 2nd 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 in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Omada Health during the second quarter valued at about $53,000. Legal & General Group Plc purchased a new stake in shares of Omada Health in the second quarter worth about $76,000. The Manufacturers Life Insurance Company bought a new position in shares of Omada Health in the second quarter valued at approximately $215,000. Finally, Fifth Third Bancorp bought a new position in shares of Omada Health in the first quarter valued at approximately $127,000.

Omada Health Company Profile

Omada Health, Inc is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines connected health devices, digital tools, health coaching and clinical support to help members improve their health and manage conditions such as diabetes, hypertension and musculoskeletal disorders.

The company’s services are designed for employers, health plans and other healthcare organizations seeking to support populations with ongoing healthcare needs.