Omada Health, Inc. (NASDAQ:OMDA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Omada Health, Inc. (NASDAQ:OMDA) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $23.60.

A number of equities analysts have weighed in on OMDA shares. BMO Capital Markets decreased their target price on Omada Health from $27.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Canaccord Genuity Group dropped their price target on Omada Health from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, March 6th. Needham & Company LLC reissued a “buy” rating and set a $28.00 price objective on shares of Omada Health in a report on Thursday, January 22nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued 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 target price for the company.

Omada Health Price Performance

Shares of NASDAQ:OMDA opened at $12.61 on Thursday. The firm has a fifty day moving average price of $13.23 and a two-hundred day moving average price of $17.52. The company has a market cap of $742.98 million and a price-to-earnings ratio of -74.18. Omada Health has a one year low of $10.28 and a one year high of $28.40.

Omada Health (NASDAQ:OMDA) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.12. The firm had revenue of $75.85 million during the quarter.

Insider Buying and Selling at Omada Health

In other news, CEO Sean P. Duffy sold 4,063 shares of Omada Health stock in a transaction on Monday, March 9th. The shares were sold at an average price of $14.34, for a total transaction of $58,263.42. Following the completion of the sale, the chief executive officer directly owned 117,598 shares of the company’s stock, valued at approximately $1,686,355.32. The trade was a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven L. Cook sold 1,884 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $13.94, for a total transaction of $26,262.96. Following the completion of the transaction, the chief financial officer owned 200,512 shares of the company’s stock, valued at $2,795,137.28. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 277,222 shares of company stock worth $4,330,695.

Hedge Funds Weigh In On Omada Health

A number of hedge funds and other institutional investors have recently modified their holdings of the company. XTX Topco Ltd bought a new position in shares of Omada Health during the 4th quarter valued at about $297,000. Utah Retirement Systems purchased a new stake in Omada Health in the fourth quarter worth approximately $1,237,000. VARCOV Co. purchased a new stake in Omada Health in the fourth quarter worth approximately $504,000. Voloridge Investment Management LLC bought a new position in Omada Health during the fourth quarter valued at approximately $2,590,000. Finally, Tudor Investment Corp ET AL raised its stake in shares of Omada Health by 373.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 211,416 shares of the company’s stock worth $3,336,000 after acquiring an additional 166,783 shares in the last quarter.

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.