Omada Health (NASDAQ:OMDA) Stock Price Up 4.5% – Here’s What Happened

Shares of Omada Health, Inc. (NASDAQ:OMDA) were up 4.5% during trading on Friday . The company traded as high as $16.96 and last traded at $16.79. Approximately 84,455 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 941,152 shares. The stock had previously closed at $16.06.

Analyst Ratings Changes

Several brokerages have issued reports on OMDA. Weiss Ratings reissued a “sell (d)” rating on shares of Omada Health in a report on Wednesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Omada Health in a research report on Thursday. Evercore ISI raised their target price on shares of Omada Health from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Wells Fargo & Company assumed coverage on Omada Health in a report on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 price objective for the company. Finally, BMO Capital Markets began coverage on Omada Health in a report on Thursday, November 13th. They set an “outperform” rating and a $27.00 target price on the stock. Eight 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.10.

Omada Health Stock Performance

The company has a fifty day moving average price of $16.45 and a two-hundred day moving average price of $19.89. The company has a market cap of $957.25 million and a P/E ratio of -66.12.

Insider Buying and Selling

In related news, President Wei-Li Shao sold 5,618 shares of Omada Health stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $16.13, for a total transaction of $90,618.34. Following the completion of the sale, the president owned 69,079 shares of the company’s stock, valued at approximately $1,114,244.27. The trade was a 7.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sean P. Duffy sold 40,796 shares of the stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $15.95, for a total transaction of $650,696.20. Following the completion of the transaction, the chief executive officer directly owned 126,644 shares in the company, valued at approximately $2,019,971.80. This represents a 24.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 276,893 shares of company stock worth $4,336,787.

Hedge Funds Weigh In On Omada Health

A number of institutional investors have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in shares of Omada Health during the second quarter worth $32,000. Strs Ohio bought a new stake in shares of Omada Health during the third quarter worth about $38,000. Rakuten Investment Management Inc. bought a new position in shares of Omada Health during the third quarter valued at $49,000. JPMorgan Chase & Co. acquired a new stake in Omada Health in the third quarter valued at $82,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Omada Health during the 3rd quarter worth about $95,000.

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.