BTIG Research Upgrades Omada Health (NASDAQ:OMDA) to Strong-Buy

Omada Health (NASDAQ:OMDA) was upgraded by BTIG Research to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.

Several other research firms also recently weighed in on OMDA. Morgan Stanley restated an “overweight” rating and issued a $30.00 price target on shares of Omada Health in a research note on Monday, June 22nd. Wall Street Zen lowered shares of Omada Health from a “buy” rating to a “hold” rating in a research note on Saturday. Evercore reiterated an “outperform” rating and issued a $20.00 price objective on shares of Omada Health in a research note on Friday, May 8th. Citizens Jmp boosted their price target on Omada Health from $18.00 to $21.00 and gave the company a “market outperform” rating in a report on Friday, May 8th. Finally, Barclays increased their price objective on shares of Omada Health from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Omada Health has an average rating of “Moderate Buy” and an average price target of $23.50.

Omada Health Stock Performance

OMDA stock opened at $23.70 on Friday. Omada Health has a fifty-two week low of $10.28 and a fifty-two week high of $26.92. The stock’s 50 day simple moving average is $19.01 and its 200 day simple moving average is $15.66. The company has a market cap of $1.41 billion and a P/E ratio of -87.78.

Omada Health (NASDAQ:OMDA) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%.The business had revenue of $78.05 million for the quarter. Equities analysts predict that Omada Health will post -0.01 earnings per share for the current year.

Insider Transactions at Omada Health

In related news, CAO Craig Gracey sold 6,894 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.42, for a total transaction of $120,093.48. Following the completion of the transaction, the chief accounting officer owned 9,191 shares in the company, valued at $160,107.22. The trade was a 42.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sean P. Duffy sold 25,886 shares of Omada Health stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total transaction of $587,094.48. Following the sale, the chief executive officer directly owned 411,861 shares of the company’s stock, valued at $9,341,007.48. This represents a 5.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 193,462 shares of company stock worth $3,927,425. 6.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Omada Health

Hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. bought a new stake in Omada Health during the 2nd quarter valued at $32,000. Bellevue Group AG grew its holdings in shares of Omada Health by 0.7% during the third quarter. Bellevue Group AG now owns 251,791 shares of the company’s stock valued at $5,567,000 after buying an additional 1,791 shares during the last quarter. Quarry LP purchased a new stake in Omada Health during the 4th quarter valued at about $29,000. Barclays PLC increased its holdings in Omada Health by 14.6% in the 4th quarter. Barclays PLC now owns 14,850 shares of the company’s stock worth $234,000 after buying an additional 1,888 shares during the period. Finally, TD Waterhouse Canada Inc. acquired a new stake in shares of Omada Health in the fourth quarter worth $32,000.

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.