Omada Health (NASDAQ:OMDA) Upgraded by BTIG Research to “Strong-Buy” Rating

BTIG Research upgraded shares of Omada Health (NASDAQ:OMDA) to a strong-buy rating in a research note published on Friday morning,Zacks.com reports.

Several other research firms have also recently commented on OMDA. Canaccord Genuity Group set a $24.00 price target on shares of Omada Health in a report on Friday, May 8th. Barclays raised their price objective 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 target price on shares of Omada Health in a research note on Monday, June 22nd. Weiss Ratings lowered Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Finally, Evercore reaffirmed an “outperform” rating and set a $20.00 price target on shares of Omada Health in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Omada Health has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Omada Health Price Performance

OMDA opened at $23.70 on Friday. Omada Health has a 12 month low of $10.28 and a 12 month high of $26.92. The stock has a market capitalization of $1.41 billion and a price-to-earnings ratio of -87.78. The business has a fifty day moving average price of $19.01 and a 200 day moving average price of $15.66.

Omada Health (NASDAQ:OMDA) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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. On average, research analysts anticipate that Omada Health will post -0.01 earnings per share for the current year.

Insider Activity at Omada Health

In other news, CAO Craig Gracey sold 6,894 shares of Omada Health stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.42, for a total transaction of $120,093.48. Following the sale, the chief accounting officer owned 9,191 shares in the company, valued at approximately $160,107.22. The trade was a 42.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sean P. Duffy sold 25,886 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were 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 $9,341,007.48. The trade was a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 193,462 shares of company stock valued at $3,927,425 in the last ninety days. Insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Omada Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC acquired a new stake in shares of Omada Health in the second quarter valued at approximately $637,000. Walleye Capital LLC purchased a new stake in Omada Health in the 2nd quarter valued at $458,000. Ilex Capital Partners UK LLP acquired a new stake in Omada Health during the 2nd quarter worth $201,000. Soros Fund Management LLC acquired a new stake in Omada Health during the 2nd quarter worth $640,000. Finally, Raymond James Financial Inc. purchased a new position in Omada Health during the 2nd quarter worth $32,000.

Omada Health Company Profile

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.