Omada Health, Inc. (NASDAQ:OMDA) Given Average Recommendation of “Moderate Buy” by Analysts

Omada Health, Inc. (NASDAQ:OMDA) has received an average recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $22.9091.

A number of research firms recently issued reports on OMDA. Evercore reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Omada Health in a research note on Friday, May 8th. Barclays boosted their price target on Omada Health from $18.00 to $20.00 and gave the stock an “overweight” rating in a 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 research report on Friday, May 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Omada Health in a research note on Friday, May 8th. Finally, Citigroup reiterated an “outperform” rating on shares of Omada Health in a research report on Friday, May 8th.

Omada Health Price Performance

Shares of NASDAQ OMDA traded down $0.27 during trading on Friday, hitting $23.28. 733,822 shares of the company were exchanged, compared to its average volume of 1,074,948. The company has a market cap of $1.38 billion and a price-to-earnings ratio of -86.22. Omada Health has a 1 year low of $10.28 and a 1 year high of $26.92. The firm’s fifty day moving average price is $18.19 and its 200 day moving average price is $15.39.

Omada Health (NASDAQ:OMDA) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $78.05 million during the quarter. Omada Health had a negative net margin of 2.22% and a negative return on equity of 1.82%. On average, research analysts forecast that Omada Health will post -0.01 earnings per share for the current year.

Insider Activity

In related news, CEO Sean P. Duffy sold 25,886 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total transaction of $587,094.48. Following the transaction, the chief executive officer directly owned 411,861 shares in the company, valued at approximately $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Craig Gracey sold 6,894 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.42, for a total transaction of $120,093.48. Following the completion of the sale, the chief accounting officer directly owned 9,191 shares in the company, valued at $160,107.22. This represents a 42.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 193,462 shares of company stock valued at $3,927,425 over the last 90 days. Insiders own 6.38% of the company’s stock.

Institutional Trading of Omada Health

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Perceptive Advisors LLC purchased a new stake in Omada Health during the second quarter worth approximately $44,402,000. Millennium Management LLC boosted its position in Omada Health by 1,195.0% during the 4th quarter. Millennium Management LLC now owns 2,272,168 shares of the company’s stock worth $35,855,000 after purchasing an additional 2,096,705 shares during the period. Loomis Sayles & Co. L P increased its holdings in Omada Health by 23.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock valued at $29,283,000 after purchasing an additional 346,588 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of Omada Health during the third quarter worth about $30,510,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Omada Health in the fourth quarter worth about $16,948,000.

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.