Omada Health (NASDAQ:OMDA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Omada Health (NASDAQ:OMDA) from a hold rating to a buy rating in a research note released on Saturday morning.

OMDA has been the subject of a number of other research reports. Wells Fargo & Company increased their target price on shares of Omada Health from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. BTIG Research assumed coverage on shares of Omada Health in a report on Friday, July 17th. They set a “buy” rating and a $30.00 price target on the stock. Barclays upped their price objective on shares of Omada Health from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, August 3rd. Citizens Jmp increased their price objective on shares of Omada Health from $21.00 to $27.00 and gave the company a “market outperform” rating in a research note on Monday, July 20th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.67.

Omada Health Stock Performance

Omada Health stock opened at $24.99 on Friday. Omada Health has a 52 week low of $10.28 and a 52 week high of $26.92. The stock has a market capitalization of $1.49 billion, a P/E ratio of 499.80 and a beta of 1.73. The stock has a fifty day moving average of $20.49 and a 200-day moving average of $16.26.

Omada Health (NASDAQ:OMDA) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.10. Omada Health had a return on equity of 2.67% and a net margin of 1.39%.The business had revenue of $87.83 million for the quarter, compared to analyst estimates of $80.93 million. On average, research analysts forecast that Omada Health will post -0.01 earnings per share for the current year.

Insider Activity

In other news, CAO Craig Gracey sold 2,083 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $21.00, for a total transaction of $43,743.00. Following the sale, the chief accounting officer directly owned 858 shares in the company, valued at approximately $18,018. The trade was a 70.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sean P. Duffy sold 12,944 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $20.40, for a total value of $264,057.60. Following the completion of the transaction, the chief executive officer directly owned 411,861 shares of the company’s stock, valued at $8,401,964.40. This represents a 3.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 206,406 shares of company stock valued at $4,191,483. 6.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Omada Health

Several large investors have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Omada Health in the fourth quarter worth $29,000. TD Waterhouse Canada Inc. acquired a new stake in Omada Health in the fourth quarter valued at $32,000. Raymond James Financial Inc. bought a new position in Omada Health during the 2nd quarter worth $32,000. Inlight Wealth Management LLC acquired a new position in Omada Health during the 4th quarter worth about $45,000. Finally, Versant Capital Management Inc lifted its holdings in Omada Health by 319.3% during 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 period.

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.