Omada Health (NASDAQ:OMDA) Stock Rating Lowered by Wall Street Zen

Omada Health (NASDAQ:OMDA) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other research analysts also recently weighed in on the company. Citizens Jmp lifted their target price on Omada Health from $27.00 to $32.00 and gave the company a “market outperform” rating in a research note on Friday, August 14th. BTIG Research restated a “buy” rating and set a $35.00 price target on shares of Omada Health in a research note on Friday, September 11th. Robert W. Baird increased their price target on Omada Health from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. Canaccord Genuity Group lifted their price objective on shares of Omada Health from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley reissued an “overweight” rating and issued a $30.00 price objective on shares of Omada Health in a research note on Monday, June 22nd. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Omada Health presently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Omada Health Stock Performance

Shares of NASDAQ:OMDA opened at $20.37 on Friday. Omada Health has a one year low of $10.28 and a one year high of $26.92. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 407.40 and a beta of 2.03. The company has a 50-day simple moving average of $21.80 and a 200-day simple moving average of $18.68.

Omada Health (NASDAQ:OMDA) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. The firm had revenue of $87.83 million for the quarter, compared to analyst estimates of $80.93 million. Omada Health had a return on equity of 2.60% and a net margin of 1.39%. As a group, research analysts forecast that Omada Health will post 0.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Steven Cook sold 6,800 shares of Omada Health stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $21.86, for a total value of $148,648.00. Following the sale, the chief financial officer directly owned 173,906 shares in the company, valued at $3,801,585.16. The trade was a 3.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Wei-Li Shao sold 4,036 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $21.85, for a total value of $88,186.60. Following the transaction, the president directly owned 295,313 shares in the company, valued at $6,452,589.05. This represents a 1.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 122,721 shares of company stock valued at $2,843,167 over the last 90 days. 6.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Omada Health

A number of institutional investors and hedge funds have recently made changes to their positions in OMDA. BlackRock Inc. acquired a new stake in shares of Omada Health in the second quarter valued at about $48,775,000. SG Americas Securities LLC purchased a new position in Omada Health in the first quarter valued at about $10,401,000. Jefferies Financial Group Inc. acquired a new stake in shares of Omada Health during the 2nd quarter valued at approximately $15,016,000. Madryn Asset Management LP acquired a new stake in shares of Omada Health during the 2nd quarter valued at approximately $12,814,410. Finally, Walleye Capital LLC purchased a new stake in shares of Omada Health during the 2nd quarter worth approximately $11,648,000.

About Omada Health

Omada Health, Inc is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines connected health devices, digital tools, health coaching and clinical support to help members improve their health and manage conditions such as diabetes, hypertension and musculoskeletal disorders.

The company’s services are designed for employers, health plans and other healthcare organizations seeking to support populations with ongoing healthcare needs.