Omada Health (NASDAQ:OMDA) Shares Climb 6.2% – Should You Buy?

Omada Health, Inc. (NASDAQ:OMDA) shares rose 6.2% during trading on Wednesday. The company traded as high as $20.55 and last traded at $20.5750. Approximately 392,449 shares changed hands during trading, a decline of 69% from the average daily volume of 1,269,357 shares. The stock had previously closed at $19.37.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup reiterated an “outperform” rating on shares of Omada Health in a research report on Friday, August 14th. Wall Street Zen upgraded Omada Health from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Omada Health in a research report on Monday, June 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Omada Health in a research note on Friday, September 11th. Finally, Canaccord Genuity Group lifted their price objective on Omada Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Omada Health Trading Up 6.2%

The firm’s fifty day moving average price is $21.84 and its 200-day moving average price is $18.55. The company has a market cap of $1.26 billion, a P/E ratio of 412.46 and a beta of 1.86.

Omada Health (NASDAQ:OMDA) last released its earnings results on Thursday, August 6th. The company reported $0.08 earnings per share 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 business had revenue of $87.83 million for the quarter, compared to the consensus estimate of $80.93 million. As a group, research analysts forecast that Omada Health, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Omada Health news, CEO Sean Duffy sold 21,572 shares of Omada Health stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $23.62, for a total transaction of $509,530.64. Following the sale, the chief executive officer owned 411,861 shares in the company, valued at $9,728,156.82. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Wei-Li Shao sold 8,866 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $25.02, for a total transaction of $221,827.32. Following the completion of the transaction, the president owned 307,372 shares of the company’s stock, valued at approximately $7,690,447.44. This represents a 2.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 122,721 shares of company stock valued at $2,843,167 over the last ninety days. 6.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Omada Health

A number of institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Omada Health in the 2nd quarter worth approximately $53,000. Versant Capital Management Inc grew its position in Omada Health by 319.3% in the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock valued at $66,000 after acquiring an additional 2,283 shares during the period. Legal & General Group Plc acquired a new position in Omada Health during the second quarter worth $76,000. The Manufacturers Life Insurance Company bought a new position in shares of Omada Health during the second quarter valued at $215,000. Finally, Fifth Third Bancorp bought a new position in shares of Omada Health during the first quarter valued at $127,000.

About Omada Health

Omada Health, Inc is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines clinical care, health coaching, connected devices, digital tools and personalized support to help members improve health outcomes and manage conditions over time.

The company’s offerings address areas including diabetes, hypertension, weight health and musculoskeletal conditions. Omada’s programs are designed to support prevention and ongoing care through services such as remote monitoring, personalized health guidance, educational content and access to healthcare professionals.

Omada primarily serves members through employers, health plans and healthcare organizations in the United States.