Omada Health (NASDAQ:OMDA) Price Target Cut to $24.00 by Analysts at Barclays

Omada Health (NASDAQ:OMDA) had its target price dropped by stock analysts at Barclays from $27.00 to $24.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 26.42% from the company’s current price.

A number of other brokerages have also weighed in on OMDA. BMO Capital Markets reissued an “outperform” rating and set a $24.00 price target on shares of Omada Health in a research note on Friday, August 7th. Needham & Company LLC restated a “buy” rating and set a $28.00 price objective on shares of Omada Health in a report on Friday, September 11th. Citizens Jmp increased their price objective on shares of Omada Health from $27.00 to $32.00 and gave the stock a “market outperform” rating in a research report on Friday, August 14th. Zacks Research raised shares of Omada Health from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings downgraded Omada Health from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.42.

Omada Health Stock Down 0.1%

Shares of OMDA traded down $0.03 on Wednesday, reaching $18.98. The stock had a trading volume of 165,960 shares, compared to its average volume of 1,257,740. The firm has a market capitalization of $1.16 billion, a PE ratio of 379.70 and a beta of 2.03. Omada Health has a twelve month low of $10.28 and a twelve month high of $26.79. The firm has a 50-day moving average of $21.04 and a 200 day moving average of $17.64.

Omada Health (NASDAQ:OMDA) last announced its quarterly 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 business had revenue of $87.83 million during the quarter, compared to analysts’ expectations of $80.93 million. On average, sell-side analysts anticipate that Omada Health will post 0.09 earnings per share for the current fiscal year.

Insider Activity at Omada Health

In related news, CFO Steven L. Cook sold 15,235 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $25.03, for a total transaction of $381,332.05. Following the sale, the chief financial officer owned 187,209 shares of the company’s stock, valued at $4,685,841.27. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sean P. Duffy sold 21,572 shares of the business’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $23.62, for a total value of $509,530.64. Following the sale, the chief executive officer owned 411,861 shares in the company, valued at approximately $9,728,156.82. This trade represents a 4.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 127,642 shares of company stock valued at $2,915,201. 6.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Omada Health

Large investors have recently modified their holdings of the business. Sterling Capital Management LLC raised its position in shares of Omada Health by 1,161.6% during the third quarter. Sterling Capital Management LLC now owns 1,577 shares of the company’s stock worth $33,000 after acquiring an additional 1,452 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Omada Health in the second quarter valued at $53,000. State of Alaska Department of Revenue acquired a new position in Omada Health during the 3rd quarter worth approximately $59,000. Versant Capital Management Inc grew its position in Omada Health by 319.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock valued at $66,000 after purchasing an additional 2,283 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Omada Health in the second quarter valued at $76,000.

About Omada Health

Omada Health, Inc (NASDAQ: OMDA) is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines personalized health coaching, clinical support, behavioral-change tools and connected devices to help members monitor and improve their health.

The company’s offerings focus primarily on cardiometabolic conditions, including diabetes, prediabetes, hypertension and obesity, as well as musculoskeletal conditions. Depending on the program, members may receive access to digital lessons, health tracking, remote monitoring, care teams and clinical guidance through Omada’s technology platform.

Omada Health was founded in 2011 and serves employers, health plans and other healthcare organizations in the United States.