Steven Cook Sells 12,337 Shares of Omada Health (NASDAQ:OMDA) Stock

Omada Health, Inc. (NASDAQ:OMDA) CFO Steven Cook sold 12,337 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $23.09, for a total value of $284,861.33. Following the completion of the transaction, the chief financial officer owned 187,209 shares of the company’s stock, valued at approximately $4,322,655.81. This represents a 6.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Omada Health Trading Up 2.5%

Shares of Omada Health stock opened at $23.55 on Friday. Omada Health, Inc. has a 12-month low of $10.28 and a 12-month high of $26.92. The company has a market cap of $1.40 billion and a price-to-earnings ratio of -87.22. The company’s 50-day moving average price is $18.01 and its 200-day moving average price is $15.33.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $78.05 million during the quarter. Omada Health had a negative net margin of 2.22% and a negative return on equity of 1.82%. On average, sell-side analysts predict that Omada Health, Inc. will post -0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on OMDA. Citigroup reaffirmed an “outperform” rating on shares of Omada Health in a report on Friday, May 8th. Wells Fargo & Company boosted their target price on Omada Health from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Canaccord Genuity Group set a $24.00 target price on Omada Health in a research note on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Omada Health in a report on Monday, June 22nd. Finally, Barclays boosted their price objective on Omada Health from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.91.

Institutional Investors Weigh In On Omada Health

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings 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 purchasing an additional 2,283 shares in the last quarter. Bank of America Corp DE lifted its position in Omada Health by 51.5% in the 1st quarter. Bank of America Corp DE now owns 161,099 shares of the company’s stock worth $2,025,000 after buying an additional 54,792 shares during the last quarter. Stoic Point Capital Management LLC purchased a new stake in Omada Health in the first quarter worth approximately $1,830,000. Quantinno Capital Management LP grew its position in Omada Health by 464.1% during the first quarter. Quantinno Capital Management LP now owns 58,723 shares of the company’s stock valued at $738,000 after acquiring an additional 48,313 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in Omada Health during the first quarter valued at approximately $194,000.

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.