Omada Health (NASDAQ:OMDA) Stock Price Up 4.5% – Here’s Why

Omada Health, Inc. (NASDAQ:OMDA)’s stock price traded up 4.5% during trading on Friday . The stock traded as high as $16.96 and last traded at $16.79. 84,455 shares were traded during trading, a decline of 91% from the average session volume of 941,152 shares. The stock had previously closed at $16.06.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OMDA. Wells Fargo & Company started coverage on Omada Health in a research note on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 price target on the stock. Morgan Stanley set a $32.00 target price on shares of Omada Health in a research note on Thursday, December 18th. Barclays dropped their target price on shares of Omada Health from $29.00 to $22.00 and set an “overweight” rating for the company in a report on Monday, January 5th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Omada Health in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Omada Health in a research note on Thursday. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Omada Health presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.10.

Omada Health Trading Up 2.9%

The firm has a fifty day moving average price of $16.38 and a 200 day moving average price of $19.90. The firm has a market cap of $956.67 million and a PE ratio of -66.08.

Insider Transactions at Omada Health

In other news, CEO Sean P. Duffy sold 230,479 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $15.60, for a total transaction of $3,595,472.40. Following the completion of the sale, the chief executive officer owned 126,644 shares in the company, valued at $1,975,646.40. This trade represents a 64.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Wei-Li Shao sold 5,618 shares of Omada Health stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $16.13, for a total transaction of $90,618.34. Following 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 position. The SEC filing for this sale provides additional information. Insiders have sold 276,893 shares of company stock worth $4,336,787 over the last ninety days.

Institutional Investors Weigh In On Omada Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in Omada Health in the second quarter valued at $32,000. Strs Ohio purchased a new stake in Omada Health in the 3rd quarter valued at about $38,000. Inlight Wealth Management LLC acquired a new position in Omada Health in the fourth quarter valued at about $45,000. Rakuten Investment Management Inc. purchased a new position in Omada Health during the third quarter worth about $49,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Omada Health during the third quarter valued at about $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.