Omada Health, Inc. (NASDAQ:OMDA) Receives $22.91 Consensus Target Price from Analysts

Omada Health, Inc. (NASDAQ:OMDA) has earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $22.9091.

A number of brokerages have commented on OMDA. Canaccord Genuity Group set a $24.00 price objective on shares of Omada Health in a research report on Friday, May 8th. Barclays lifted their target price on shares of Omada Health from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Morgan Stanley reiterated an “overweight” rating and set a $30.00 price target on shares of Omada Health in a research note on Monday, June 22nd. The Goldman Sachs Group reissued a “buy” rating on shares of Omada Health in a report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday.

Omada Health Trading Down 0.3%

Omada Health stock opened at $23.67 on Friday. The stock has a 50 day moving average of $18.83 and a two-hundred day moving average of $15.61. Omada Health has a twelve month low of $10.28 and a twelve month high of $26.92. The stock has a market capitalization of $1.41 billion and a price-to-earnings ratio of -87.67.

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

Insider Activity

In related news, CEO Sean P. Duffy sold 25,886 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total transaction of $587,094.48. Following the transaction, the chief executive officer owned 411,861 shares of the company’s stock, valued at $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Craig Gracey sold 2,083 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $21.00, for a total value of $43,743.00. Following the transaction, the chief accounting officer directly owned 858 shares in the company, valued at $18,018. This represents a 70.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 193,462 shares of company stock valued at $3,927,425 in the last three months. 6.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Omada Health

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Omada Health in the fourth quarter valued at about $1,222,000. Divisadero Street Capital Management LP acquired a new stake in shares of Omada Health during the 3rd quarter valued at approximately $30,510,000. a16z Perennial Management L.P. purchased a new stake in shares of Omada Health during the 4th quarter worth approximately $2,480,000. Madryn Asset Management LP acquired a new stake in shares of Omada Health in the 4th quarter worth approximately $9,212,000. Finally, Parallel Advisors LLC grew its holdings in shares of Omada Health by 12,235.9% in the 4th quarter. Parallel Advisors LLC now owns 123,359 shares of the company’s stock worth $1,947,000 after acquiring an additional 122,359 shares during the period.

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.