Omada Health (NASDAQ:OMDA) Given New $32.00 Price Target at Citizens Jmp

Omada Health (NASDAQ:OMDA) had its target price boosted by research analysts at Citizens Jmp from $27.00 to $32.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s price target suggests a potential upside of 31.31% from the company’s current price.

Several other brokerages have also recently issued reports on OMDA. Wall Street Zen raised Omada Health from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Canaccord Genuity Group increased their price objective on shares of Omada Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Robert W. Baird raised their price objective on shares of Omada Health from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday. Citigroup restated an “outperform” rating on shares of Omada Health in a research report on Friday. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $30.00 target price on shares of Omada Health in a report on Monday, June 22nd. Eleven 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.17.

Omada Health Stock Up 2.2%

Shares of OMDA stock opened at $24.37 on Friday. The company has a 50 day moving average price of $20.87 and a 200-day moving average price of $16.43. Omada Health has a 52 week low of $10.28 and a 52 week high of $26.92. The firm has a market capitalization of $1.49 billion, a PE ratio of 487.40 and a beta of 1.73.

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

Insider Activity at Omada Health

In other news, CFO Steven L. Cook sold 1,607 shares of Omada Health stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $25.01, for a total transaction of $40,191.07. Following the sale, the chief financial officer owned 187,209 shares in the company, valued at $4,682,097.09. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Wei-Li Shao sold 8,866 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $25.02, for a total transaction of $221,827.32. Following the completion of the transaction, the president directly owned 307,372 shares in the company, valued at $7,690,447.44. This trade represents a 2.80% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 254,726 shares of company stock valued at $5,370,496. Corporate insiders own 6.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Omada Health during the 2nd quarter valued at approximately $32,000. Bellevue Group AG raised its holdings in shares of Omada Health by 0.7% during the 3rd quarter. Bellevue Group AG now owns 251,791 shares of the company’s stock worth $5,567,000 after acquiring an additional 1,791 shares in the last quarter. Quarry LP bought a new position in shares of Omada Health during the 4th quarter valued at approximately $29,000. Barclays PLC grew its holdings in shares of Omada Health by 14.6% in the fourth quarter. Barclays PLC now owns 14,850 shares of the company’s stock valued at $234,000 after purchasing an additional 1,888 shares in the last quarter. Finally, TD Waterhouse Canada Inc. bought a new stake in Omada Health in the fourth quarter worth $32,000.

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.