Omada Health (NASDAQ:OMDA) Earns “Buy” Rating from Needham & Company LLC

Omada Health (NASDAQ:OMDA)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They currently have a $28.00 price objective on the stock. Needham & Company LLC’s price target would indicate a potential upside of 30.23% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Omada Health in a research note on Monday, June 22nd. Robert W. Baird boosted their target price on Omada Health from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. BTIG Research upped their price target on shares of Omada Health from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, August 10th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $24.00 price target on shares of Omada Health in a report on Friday, August 7th. Finally, Barclays reissued an “overweight” rating and issued a $27.00 price objective on shares of Omada Health in a report on Friday. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Omada Health Price Performance

Shares of NASDAQ:OMDA opened at $21.50 on Friday. Omada Health has a 1 year low of $10.28 and a 1 year high of $26.92. The business’s 50 day simple moving average is $22.68 and its 200 day simple moving average is $17.91. The company has a market capitalization of $1.32 billion, a P/E ratio of 430.00 and a beta of 1.86.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. Omada Health had a return on equity of 2.60% and a net margin of 1.39%.The company had revenue of $87.83 million during the quarter, compared to the consensus estimate of $80.93 million. On average, sell-side analysts anticipate that Omada Health will post 0.09 EPS for the current fiscal year.

Insider Transactions at Omada Health

In other news, CFO Steven L. Cook sold 33,000 shares of Omada Health stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $19.89, for a total value of $656,370.00. Following the completion of the transaction, the chief financial officer directly owned 133,359 shares of the company’s stock, valued at approximately $2,652,510.51. The trade was a 19.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sean P. Duffy sold 25,886 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 411,861 shares of the company’s stock, valued at approximately $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 265,923 shares of company stock worth $5,708,519. 6.38% of the stock is owned by insiders.

Institutional Trading of Omada Health

Several large investors have recently added to or reduced their stakes in the company. Perceptive Advisors LLC acquired a new stake in Omada Health during the second quarter valued at $44,402,000. BlackRock Inc. acquired a new position in shares of Omada Health during the 2nd quarter worth about $48,775,000. Millennium Management LLC grew its stake in shares of Omada Health by 1,195.0% in the fourth quarter. Millennium Management LLC now owns 2,272,168 shares of the company’s stock worth $35,855,000 after acquiring an additional 2,096,705 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Omada Health in the fourth quarter valued at about $16,948,000. Finally, SG Americas Securities LLC bought a new stake in shares of Omada Health in the 1st quarter worth approximately $10,401,000.

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.