Omada Health, Inc. (NASDAQ:OMDA) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Omada Health, Inc. (NASDAQ:OMDA) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $22.9091.

A number of analysts have weighed in on the stock. Morgan Stanley reduced their price target on shares of Omada Health from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Omada Health in a report on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Omada Health in a report on Friday, May 8th. Wells Fargo & Company increased their price target on shares of Omada Health from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, BMO Capital Markets reduced their price target on shares of Omada Health from $27.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, March 6th.

Omada Health Trading Up 8.3%

NASDAQ:OMDA opened at $17.82 on Friday. Omada Health has a 1 year low of $10.28 and a 1 year high of $28.40. The firm’s fifty day simple moving average is $14.32 and its 200 day simple moving average is $14.95. The firm has a market capitalization of $1.06 billion and a PE ratio of -66.00.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Omada Health had a negative net margin of 2.22% and a negative return on equity of 1.82%. The firm had revenue of $78.05 million during the quarter. As a group, analysts anticipate that Omada Health will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling at Omada Health

In other news, President Wei-Li Shao sold 2,829 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $12.71, for a total transaction of $35,956.59. Following the completion of the transaction, the president directly owned 328,850 shares of the company’s stock, valued at approximately $4,179,683.50. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Steven L. Cook sold 1,884 shares of the firm’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $13.94, for a total transaction of $26,262.96. Following the transaction, the chief financial officer directly owned 200,512 shares of the company’s stock, valued at $2,795,137.28. The trade was a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,776 shares of company stock valued at $120,483 in the last ninety days. Company insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Omada Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Perceptive Advisors LLC bought a new position in shares of Omada Health during the 2nd quarter worth about $44,402,000. Millennium Management LLC lifted its holdings in shares of Omada Health by 1,195.0% during the 4th 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 period. Loomis Sayles & Co. L P lifted its holdings in shares of Omada Health by 23.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock worth $29,283,000 after acquiring an additional 346,588 shares during the period. Divisadero Street Capital Management LP bought a new position in shares of Omada Health during the 3rd quarter worth about $30,510,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of Omada Health during the 4th quarter worth about $16,948,000.

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.