The Goldman Sachs Group Has Lowered Expectations for Omada Health (NASDAQ:OMDA) Stock Price

Omada Health (NASDAQ:OMDA) had its price target decreased by stock analysts at The Goldman Sachs Group from $26.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 101.58% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Wells Fargo & Company started coverage on Omada Health in a research report on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 price target for the company. Wall Street Zen raised Omada Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. BMO Capital Markets lowered their price target on Omada Health from $27.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Canaccord Genuity Group cut their price objective 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. Finally, JPMorgan Chase & Co. cut their price objective on Omada Health from $32.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $22.00.

Omada Health Price Performance

Shares of NASDAQ:OMDA opened at $11.41 on Thursday. Omada Health has a fifty-two week low of $10.28 and a fifty-two week high of $28.40. The business has a 50-day moving average of $12.74 and a two-hundred day moving average of $17.04. The stock has a market capitalization of $672.28 million and a P/E ratio of -67.12.

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

Insider Activity at Omada Health

In related news, CFO Steven L. Cook sold 1,884 shares of the stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $13.94, for a total value of $26,262.96. Following the completion of the sale, the chief financial officer owned 200,512 shares in the company, valued at approximately $2,795,137.28. This trade represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sean P. Duffy sold 4,063 shares of the stock in a transaction dated 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 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 280,051 shares of company stock worth $4,366,652.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cigna Investments Inc. New bought a new position in Omada Health during the third quarter worth about $76,161,000. Perceptive Advisors LLC bought a new position in Omada Health during the second quarter worth about $44,402,000. Millennium Management LLC lifted its stake in Omada Health by 1,195.0% during the fourth quarter. Millennium Management LLC now owns 2,272,168 shares of the company’s stock worth $35,855,000 after purchasing an additional 2,096,705 shares during the period. Loomis Sayles & Co. L P lifted its stake in Omada Health by 23.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock worth $29,283,000 after purchasing an additional 346,588 shares during the period. Finally, Divisadero Street Capital Management LP bought a new position in Omada Health during the third quarter worth about $30,510,000.

About Omada Health

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.