Investors Purchase High Volume of Call Options on Omada Health (NASDAQ:OMDA)

Omada Health, Inc. (NASDAQ:OMDA) saw unusually large options trading activity on Monday. Traders purchased 3,067 call options on the company. This is an increase of 503% compared to the average daily volume of 509 call options.

Wall Street Analysts Forecast Growth

OMDA has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price target on shares of Omada Health from $32.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, March 12th. The Goldman Sachs Group dropped their price objective on shares of Omada Health from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, April 9th. Barclays dropped their price objective on shares of Omada Health from $22.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Canaccord Genuity Group dropped their price objective on shares of Omada Health from $28.00 to $22.00 and set a “buy” rating on the stock in a research note on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Omada Health in a research note on Thursday, January 22nd. Eight equities 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Insiders Place Their Bets

In other Omada Health news, CEO Sean P. Duffy sold 4,063 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 117,598 shares of the company’s stock, valued at approximately $1,686,355.32. This trade represents a 3.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Wei-Li Shao sold 2,829 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $12.71, for a total transaction 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 represents a 0.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 8,776 shares of company stock valued at $120,483.

Institutional Investors Weigh In On Omada Health

A number of institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio acquired a new stake in Omada Health in the 3rd quarter valued at $38,000. Raymond James Financial Inc. acquired a new stake in Omada Health in the 2nd quarter valued at $32,000. Bellevue Group AG grew its stake in Omada Health by 0.7% in the 3rd quarter. Bellevue Group AG now owns 251,791 shares of the company’s stock valued at $5,567,000 after acquiring an additional 1,791 shares during the period. Quarry LP acquired a new stake in Omada Health in the 4th quarter valued at $29,000. Finally, Barclays PLC grew its stake in Omada Health by 14.6% in the 4th quarter. Barclays PLC now owns 14,850 shares of the company’s stock valued at $234,000 after acquiring an additional 1,888 shares during the period.

Omada Health Price Performance

Shares of NASDAQ OMDA opened at $12.12 on Tuesday. The stock has a market capitalization of $714.11 million and a price-to-earnings ratio of -71.29. Omada Health has a 12 month low of $10.28 and a 12 month high of $28.40. The firm’s 50 day simple moving average is $12.68 and its 200-day simple moving average is $16.87.

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