Insider Selling: Omada Health (NASDAQ:OMDA) CFO Sells $378,206.50 in Stock

Omada Health, Inc. (NASDAQ:OMDA) CFO Steven Cook sold 17,950 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $21.07, for a total value of $378,206.50. Following the completion of the transaction, the chief financial officer owned 115,409 shares in the company, valued at $2,431,667.63. This represents a 13.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Omada Health Trading Up 1.3%

Omada Health stock traded up $0.28 during mid-day trading on Tuesday, hitting $21.95. The company’s stock had a trading volume of 853,685 shares, compared to its average volume of 1,070,637. The stock’s fifty day moving average is $16.83 and its two-hundred day moving average is $14.93. The firm has a market capitalization of $1.30 billion and a PE ratio of -81.30. Omada Health, Inc. has a 1 year low of $10.28 and a 1 year high of $26.92.

Omada Health (NASDAQ:OMDA) last posted its earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, beating 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 company had revenue of $78.05 million for the quarter. On average, equities analysts expect that Omada Health, Inc. will post -0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Omada Health from $32.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. Citizens Jmp lifted their price target on shares of Omada Health from $18.00 to $21.00 and gave the company a “market outperform” rating in a research report on Friday, May 8th. Evercore reissued an “outperform” rating and issued a $20.00 price target on shares of Omada Health in a research note on Friday, May 8th. Morgan Stanley restated an “overweight” rating and issued a $30.00 price objective on shares of Omada Health in a report on Monday, June 22nd. Finally, Canaccord Genuity Group set a $24.00 price objective on shares of Omada Health in a research report on Friday, May 8th. Ten research 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.91.

Hedge Funds Weigh In On Omada Health

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new position in Omada Health in the 2nd quarter valued at about $637,000. Walleye Capital LLC acquired a new stake in shares of Omada Health during the second quarter worth about $458,000. Ilex Capital Partners UK LLP purchased a new position in shares of Omada Health in the second quarter valued at approximately $201,000. Soros Fund Management LLC purchased a new position in shares of Omada Health in the second quarter valued at approximately $640,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Omada Health in the second quarter valued at approximately $32,000.

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.