Omada Health (NASDAQ:OMDA) Stock Price Down 4.7% – Here’s Why

Omada Health, Inc. (NASDAQ:OMDA) was down 4.7% on Wednesday . The company traded as low as $12.80 and last traded at $12.77. Approximately 244,611 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,409,304 shares. The stock had previously closed at $13.40.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wall Street Zen upgraded Omada Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. BMO Capital Markets decreased their price target on Omada Health from $27.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. JPMorgan Chase & Co. dropped their price objective on Omada Health from $32.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of Omada Health in a report on Thursday, January 22nd. Finally, Wells Fargo & Company began coverage on shares of Omada Health in a research report on Thursday, January 8th. They set an “equal weight” rating and a $17.00 target price for the company. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Omada Health Stock Down 3.4%

The company has a market cap of $762.72 million and a P/E ratio of -76.15. The firm has a fifty day moving average price of $13.62 and a 200 day moving average price of $17.91.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.12. The company had revenue of $75.85 million for the quarter.

Insider Activity at Omada Health

In related news, President Wei-Li Shao sold 5,618 shares of Omada Health stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $16.13, for a total value of $90,618.34. Following the completion of the sale, the president directly owned 69,079 shares in the company, valued at $1,114,244.27. This trade represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean P. Duffy sold 4,063 shares of the company’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $14.34, for a total transaction of $58,263.42. Following the transaction, the chief executive officer owned 117,598 shares in the company, valued at approximately $1,686,355.32. The trade was a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 282,840 shares of company stock valued at $4,421,313 over the last quarter.

Hedge Funds Weigh In On Omada Health

Hedge funds and other institutional investors have recently bought and sold shares of the business. Strs Ohio acquired a new position in shares of Omada Health in the 3rd quarter valued at $38,000. Raymond James Financial Inc. bought a new stake in Omada Health in the second quarter valued at about $32,000. Quarry LP acquired a new stake in shares of Omada Health in the 4th quarter valued at approximately $29,000. TD Waterhouse Canada Inc. acquired a new stake in Omada Health in the fourth quarter worth $32,000. Finally, Rakuten Investment Management Inc. bought a new position in shares of Omada Health during the third quarter worth $49,000.

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.