Insider Selling: Omada Health (NASDAQ:OMDA) President Sells $35,956.59 in Stock

Omada Health, Inc. (NASDAQ:OMDA) President Wei-Li Shao sold 2,829 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $12.71, for a total value of $35,956.59. Following the transaction, the president directly owned 328,850 shares of the company’s stock, valued at $4,179,683.50. This trade represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Omada Health Stock Performance

Shares of NASDAQ OMDA opened at $11.41 on Monday. The stock has a 50 day moving average price of $12.74 and a 200 day moving average price of $16.95. Omada Health, Inc. has a 52 week low of $10.28 and a 52 week high of $28.40. The stock has a market capitalization of $672.33 million and a PE ratio of -67.12.

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

Analysts Set New Price Targets

OMDA has been the topic of several research analyst reports. Wall Street Zen upgraded Omada Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Weiss Ratings restated a “sell (d)” rating on shares of Omada Health in a research note on Thursday, January 22nd. Evercore restated an “outperform” rating and issued a $15.00 price objective on shares of Omada Health in a research note on Wednesday. Barclays dropped their price objective on Omada Health from $22.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Finally, Wells Fargo & Company initiated coverage on Omada Health in a research note on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Institutional Trading of Omada Health

Several institutional investors and hedge funds have recently bought and sold shares of OMDA. Strs Ohio bought a new position in shares of Omada Health during the third quarter worth approximately $38,000. Raymond James Financial Inc. bought a new position in shares of Omada Health during the second quarter worth approximately $32,000. Quarry LP bought a new position in shares of Omada Health during the fourth quarter worth approximately $29,000. TD Waterhouse Canada Inc. bought a new position in shares of Omada Health during the fourth quarter worth approximately $32,000. Finally, Rakuten Investment Management Inc. bought a new position in shares of Omada Health during the third quarter worth approximately $49,000.

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.