Omada Health (NASDAQ:OMDA) Stock Price Down 5.9% – Time to Sell?

Shares of Omada Health, Inc. (NASDAQ:OMDA) dropped 5.9% on Friday . The company traded as low as $15.44 and last traded at $15.47. Approximately 153,860 shares changed hands during trading, a decline of 79% from the average daily volume of 732,380 shares. The stock had previously closed at $16.44.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company began coverage on Omada Health in a report on Thursday. They set an “equal weight” rating and a $17.00 price target for the company. Barclays cut their target price on shares of Omada Health from $29.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, January 5th. BMO Capital Markets started coverage on shares of Omada Health in a research note on Thursday, November 13th. They issued an “outperform” rating and a $27.00 price target on the stock. Evercore ISI raised their price objective on shares of Omada Health from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Needham & Company LLC upped their target price on Omada Health from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.40.

Omada Health Trading Down 6.3%

The firm has a market cap of $892.36 million and a price-to-earnings ratio of -61.64. The firm’s 50 day simple moving average is $17.60 and its two-hundred day simple moving average is $20.05.

Insider Buying and Selling at Omada Health

In related news, President Wei-Li Shao sold 5,618 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $16.13, for a total value of $90,618.34. Following the completion of the sale, the president directly owned 69,079 shares in the company, valued at approximately $1,114,244.27. The trade was a 7.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Hedge Funds Weigh In On Omada Health

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in shares of Omada Health during the 3rd quarter valued at $38,000. Raymond James Financial Inc. acquired a new stake in Omada Health during the second quarter worth about $32,000. Bellevue Group AG increased its holdings 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 buying an additional 1,791 shares during the period. Rakuten Investment Management Inc. acquired a new position in shares of Omada Health in the 3rd quarter valued at approximately $49,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Omada Health during the 3rd quarter worth approximately $82,000.

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.