Omada Health (NASDAQ:OMDA) Shares Down 5.8% – What’s Next?

Shares of Omada Health, Inc. (NASDAQ:OMDA) were down 5.8% during mid-day trading on Tuesday. The stock traded as low as $20.76 and last traded at $20.6050. 64,557 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,261,191 shares. The stock had previously closed at $21.87.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on OMDA shares. Citizens Jmp boosted their price objective on Omada Health from $27.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Friday, August 14th. Needham & Company LLC restated a “buy” rating and issued a $28.00 target price on shares of Omada Health in a research report on Friday, September 11th. JPMorgan Chase & Co. lifted their price target on Omada Health from $26.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Barclays boosted their price target on Omada Health from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, September 11th. Finally, Zacks Research raised Omada Health from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Omada Health has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Omada Health Price Performance

The company’s 50 day moving average price is $21.92 and its two-hundred day moving average price is $18.99. The stock has a market capitalization of $1.18 billion, a PE ratio of 386.94 and a beta of 2.03.

Omada Health (NASDAQ:OMDA) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. The firm had revenue of $87.83 million for the quarter, compared to analyst estimates of $80.93 million. Analysts forecast that Omada Health, Inc. will post 0.09 earnings per share for the current year.

Insiders Place Their Bets

In other Omada Health news, CFO Steven Cook sold 15,235 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $25.03, for a total value of $381,332.05. Following the transaction, the chief financial officer directly owned 187,209 shares of the company’s stock, valued at $4,685,841.27. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Wei-Li Shao sold 8,866 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $25.02, for a total value of $221,827.32. Following the transaction, the president owned 307,372 shares in the company, valued at approximately $7,690,447.44. This represents a 2.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 127,642 shares of company stock valued at $2,915,201 in the last ninety days. 6.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Omada Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMDA. Versant Capital Management Inc grew its holdings in Omada Health by 319.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock valued at $66,000 after buying an additional 2,283 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Omada Health in the 2nd quarter worth $53,000. Legal & General Group Plc acquired a new stake in shares of Omada Health in the 2nd quarter worth $76,000. The Manufacturers Life Insurance Company purchased a new position in shares of Omada Health during the 2nd quarter worth $215,000. Finally, Fifth Third Bancorp purchased a new position in shares of Omada Health during the 1st quarter worth $127,000.

Omada Health Company Profile

Omada Health, Inc is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines connected health devices, digital tools, health coaching and clinical support to help members improve their health and manage conditions such as diabetes, hypertension and musculoskeletal disorders.

The company’s services are designed for employers, health plans and other healthcare organizations seeking to support populations with ongoing healthcare needs.