Omada Health (NASDAQ:OMDA) Upgraded at BTIG Research

Omada Health (NASDAQ:OMDA) was upgraded by equities research analysts at BTIG Research to a “strong-buy” rating in a report released on Friday,Zacks.com reports.

A number of other research analysts have also recently issued reports on OMDA. Citizens Jmp lifted their price target on shares of Omada Health from $18.00 to $21.00 and gave the company a “market outperform” rating in a research report on Friday, May 8th. Needham & Company LLC restated a “buy” rating and issued a $28.00 price objective on shares of Omada Health in a report on Friday, May 8th. Weiss Ratings lowered shares of Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Morgan Stanley reiterated an “overweight” rating and set a $30.00 target price on shares of Omada Health in a report on Monday, June 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given 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, Omada Health presently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Omada Health Stock Up 0.1%

Shares of OMDA stock opened at $23.70 on Friday. The stock has a market cap of $1.41 billion and a price-to-earnings ratio of -87.78. The business’s fifty day moving average is $19.01 and its 200 day moving average is $15.66. Omada Health has a twelve month low of $10.28 and a twelve month high of $26.92.

Omada Health (NASDAQ:OMDA) last announced 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 business had revenue of $78.05 million during the quarter. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%. Equities research analysts expect that Omada Health will post -0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Steven L. Cook sold 12,337 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The shares were 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 directly owned 187,209 shares in the company, valued at $4,322,655.81. The trade was a 6.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Craig Gracey sold 2,083 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $21.00, for a total value of $43,743.00. Following the completion of the transaction, the chief accounting officer directly owned 858 shares in the company, valued at $18,018. This trade represents a 70.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 193,462 shares of company stock worth $3,927,425 over the last 90 days. 6.38% of the stock is currently owned by insiders.

Institutional Trading of Omada Health

Institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its holdings in shares of Omada Health by 319.3% during the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock valued at $66,000 after purchasing an additional 2,283 shares during the last quarter. Bank of America Corp DE lifted its position in Omada Health by 51.5% during the first quarter. Bank of America Corp DE now owns 161,099 shares of the company’s stock valued at $2,025,000 after purchasing an additional 54,792 shares during the period. 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 boosted its holdings in Omada Health by 464.1% in the first quarter. Quantinno Capital Management LP now owns 58,723 shares of the company’s stock worth $738,000 after purchasing an additional 48,313 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in Omada Health in the 1st quarter worth approximately $194,000.

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.