Omada Health, Inc. (NASDAQ:OMDA) Short Interest Down 21.0% in March

Omada Health, Inc. (NASDAQ:OMDA) saw a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 2,843,612 shares, a decline of 21.0% from the February 26th total of 3,600,814 shares. Approximately 4.8% of the shares of the stock are sold short. Based on an average trading volume of 2,204,266 shares, the short-interest ratio is presently 1.3 days.

Insiders Place Their Bets

In other Omada Health news, CEO Sean P. Duffy sold 4,063 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $14.34, for a total value of $58,263.42. Following the sale, the chief executive officer owned 117,598 shares in the company, valued at $1,686,355.32. The trade was a 3.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven L. Cook sold 1,884 shares of the firm’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $13.94, for a total value of $26,262.96. Following the transaction, the chief financial officer owned 200,512 shares of the company’s stock, valued at approximately $2,795,137.28. The trade was a 0.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 277,222 shares of company stock worth $4,330,695.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Strs Ohio bought a new stake in shares of Omada Health during the 3rd quarter worth approximately $38,000. Raymond James Financial Inc. bought a new position in Omada Health in the 2nd quarter valued at $32,000. Bellevue Group AG grew its position in Omada Health by 0.7% in the 3rd quarter. Bellevue Group AG now owns 251,791 shares of the company’s stock valued at $5,567,000 after acquiring an additional 1,791 shares during the last quarter. Quarry LP purchased a new stake in Omada Health in the fourth quarter worth $29,000. Finally, Barclays PLC lifted its position in shares of Omada Health by 14.6% during the fourth quarter. Barclays PLC now owns 14,850 shares of the company’s stock worth $234,000 after purchasing an additional 1,888 shares during the last quarter.

Analyst Upgrades and Downgrades

OMDA has been the topic of several recent research reports. BMO Capital Markets decreased their price objective on Omada Health from $27.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. JPMorgan Chase & Co. reduced their price target on shares of Omada Health from $32.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, March 12th. Canaccord Genuity Group decreased their price target on shares of Omada Health from $28.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Wells Fargo & Company assumed coverage on shares of Omada Health in a research note on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 price objective for the company. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Omada Health in a report on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Omada Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

Omada Health Stock Performance

NASDAQ OMDA traded up $0.24 on Monday, hitting $12.09. 514,014 shares of the stock were exchanged, compared to its average volume of 1,386,460. Omada Health has a 52-week low of $10.28 and a 52-week high of $28.40. The firm has a market capitalization of $712.05 million and a P/E ratio of -71.09. The stock has a fifty day moving average price of $13.43 and a two-hundred day moving average price of $17.69.

Omada Health (NASDAQ:OMDA) last announced its earnings results on Thursday, March 5th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.12. The firm had revenue of $75.85 million during the quarter.

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.