Omada Health, Inc. (NASDAQ:OMDA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Omada Health, Inc. (NASDAQ:OMDA) have been given an average recommendation of “Moderate Buy” by the fourteen analysts that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $24.75.

A number of equities analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Omada Health from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. BTIG Research started coverage on shares of Omada Health in a research report on Friday, July 17th. They set a “buy” rating and a $30.00 price target for the company. Canaccord Genuity Group raised their price objective on Omada Health from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Weiss Ratings lowered Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, July 13th. Finally, Wall Street Zen cut Omada Health from a “buy” rating to a “hold” rating in a report on Saturday, July 18th.

Omada Health Price Performance

Shares of OMDA opened at $19.11 on Thursday. Omada Health has a 1 year low of $10.28 and a 1 year high of $26.92. The stock has a 50 day simple moving average of $20.21 and a two-hundred day simple moving average of $16.12. The firm has a market cap of $1.14 billion, a P/E ratio of -70.78 and a beta of 1.73.

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

Insider Activity

In related news, CFO Steven L. Cook sold 12,337 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $23.09, for a total transaction of $284,861.33. Following the completion of the sale, the chief financial officer directly owned 187,209 shares in the company, valued at $4,322,655.81. This represents a 6.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sean P. Duffy sold 12,944 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $20.40, for a total transaction of $264,057.60. Following the sale, the chief executive officer directly owned 411,861 shares of the company’s stock, valued at $8,401,964.40. The trade was a 3.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 206,406 shares of company stock valued at $4,191,483. 6.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Omada Health

Several hedge funds and other institutional investors have recently modified their holdings of OMDA. Quarry LP purchased a new stake in shares of Omada Health during the fourth quarter worth about $29,000. TD Waterhouse Canada Inc. bought a new position in Omada Health during the 4th quarter valued at approximately $32,000. Raymond James Financial Inc. purchased a new stake in Omada Health in the 2nd quarter worth approximately $32,000. Inlight Wealth Management LLC purchased a new stake in Omada Health in the 4th quarter worth approximately $45,000. Finally, Versant Capital Management Inc grew its position in shares of Omada Health by 319.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock worth $66,000 after buying an additional 2,283 shares during the last quarter.

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.