Omada Health (NASDAQ:OMDA) Trading Up 5.3% – Still a Buy?

Shares of Omada Health, Inc. (NASDAQ:OMDA) rose 5.3% during mid-day trading on Thursday . The company traded as high as $22.19 and last traded at $22.6290. Approximately 64,744 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,243,073 shares. The stock had previously closed at $21.50.

Analyst Upgrades and Downgrades

OMDA has been the subject of several research analyst reports. Citizens Jmp raised their price objective on shares of Omada Health from $27.00 to $32.00 and gave the stock a “market outperform” rating in a report on Friday, August 14th. Canaccord Genuity Group raised their price objective on Omada Health from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Citigroup reissued an “outperform” rating on shares of Omada Health in a research note on Friday, August 14th. Wall Street Zen raised Omada Health from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $24.00 target price on shares of Omada Health in a report on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Omada Health presently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Omada Health Price Performance

The stock has a market capitalization of $1.33 billion, a P/E ratio of 434.38 and a beta of 1.86. The business’s 50 day moving average price is $22.70 and its 200 day moving average price is $17.84.

Omada Health (NASDAQ:OMDA) last posted its earnings results on Thursday, August 6th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. The business had revenue of $87.83 million during 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 2.60%. As a group, analysts forecast that Omada Health, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Sean Duffy sold 25,886 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total transaction of $587,094.48. Following the completion of the sale, the chief executive officer owned 411,861 shares of the company’s stock, valued at $9,341,007.48. This represents a 5.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven Cook sold 33,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $19.89, for a total transaction of $656,370.00. Following the sale, the chief financial officer owned 133,359 shares of the company’s stock, valued at $2,652,510.51. This trade represents a 19.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 277,406 shares of company stock worth $5,907,726 over the last three months. Insiders own 6.38% of the company’s stock.

Institutional Trading of Omada Health

Several institutional investors have recently made changes to their positions in OMDA. Raymond James Financial Inc. bought a new stake in Omada Health in the 2nd quarter valued at $32,000. Quarry LP purchased a new stake in shares of Omada Health in the fourth quarter worth approximately $29,000. Integrated Wealth Concepts LLC bought a new stake in Omada Health during the 2nd quarter valued at about $53,000. Versant Capital Management Inc grew its stake in Omada Health by 319.3% in the second 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. Finally, Legal & General Group Plc bought a new position in shares of Omada Health during the 2nd quarter worth $76,000.

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.