Omada Health’s (OMDA) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Omada Health (NASDAQ:OMDA) in a research report report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $28.00 target price on the stock.

Several other research analysts also recently weighed in on the company. Morgan Stanley set a $32.00 target price on Omada Health in a research note on Thursday, December 18th. Weiss Ratings reissued a “sell (d)” rating on shares of Omada Health in a report on Wednesday, October 8th. Barclays decreased their price objective on shares of Omada Health from $29.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. The Goldman Sachs Group reissued a “buy” rating and set a $26.00 target price on shares of Omada Health in a research note on Friday, January 16th. Finally, Wells Fargo & Company began coverage on shares of Omada Health in a research report on Thursday, January 8th. They set an “equal weight” rating and a $17.00 price target for the company. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $25.10.

Omada Health Trading Up 2.8%

NASDAQ OMDA opened at $16.06 on Thursday. The stock has a market capitalization of $930.03 million and a price-to-earnings ratio of -64.24. The stock has a 50-day moving average of $16.45 and a 200 day moving average of $19.89. Omada Health has a twelve month low of $14.14 and a twelve month high of $28.40.

Insider Buying and Selling

In other Omada Health news, CEO Sean P. Duffy sold 40,796 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $15.95, for a total transaction of $650,696.20. Following the transaction, the chief executive officer owned 126,644 shares of the company’s stock, valued at approximately $2,019,971.80. The trade was a 24.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Wei-Li Shao sold 5,618 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $1,114,244.27. This trade represents a 7.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 276,893 shares of company stock valued at $4,336,787 over the last 90 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Sanofi purchased a new stake in shares of Omada Health in the second quarter valued at about $9,606,000. Teacher Retirement System of Texas purchased a new stake in shares of Omada Health in the 2nd quarter valued at approximately $640,000. Jennison Associates LLC acquired a new stake in shares of Omada Health during the 2nd quarter worth approximately $4,580,000. Emerald Advisers LLC acquired a new stake in shares of Omada Health during the 2nd quarter worth approximately $5,089,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Omada Health during the 2nd quarter valued at approximately $2,950,000.

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.