Omada Health (NASDAQ:OMDA) Price Target Raised to $27.00 at Citizens Jmp

Omada Health (NASDAQ:OMDA) had its target price raised by Citizens Jmp from $21.00 to $27.00 in a report published on Monday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

Other analysts also recently issued reports about the company. Barclays raised their price target on Omada Health from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Citigroup reiterated an “outperform” rating on shares of Omada Health in a research report on Monday. Wall Street Zen downgraded shares of Omada Health from a “buy” rating to a “hold” rating in a research note on Saturday. Evercore restated an “outperform” rating and issued a $20.00 target price on shares of Omada Health in a report on Friday, May 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $30.00 price target on shares of Omada Health in a research note on Monday, June 22nd. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Omada Health Price Performance

Shares of NASDAQ OMDA opened at $23.89 on Monday. The business’s 50 day moving average is $19.19 and its two-hundred day moving average is $15.72. Omada Health has a 1-year low of $10.28 and a 1-year high of $26.92. The stock has a market capitalization of $1.42 billion and a P/E ratio of -88.48.

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

Insiders Place Their Bets

In other news, CEO Sean P. Duffy sold 25,886 shares of Omada Health stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total transaction of $587,094.48. Following the completion of the sale, the chief executive officer directly owned 411,861 shares in the company, valued at approximately $9,341,007.48. This trade represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Craig Gracey sold 2,083 shares of the business’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $21.00, for a total transaction of $43,743.00. Following the sale, the chief accounting officer directly owned 858 shares of the company’s stock, valued at $18,018. This represents a 70.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 193,462 shares of company stock worth $3,927,425 over the last quarter. Company insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Omada Health

A number of hedge funds have recently added to or reduced their stakes in OMDA. Raymond James Financial Inc. bought a new stake in shares of Omada Health during the second quarter valued at approximately $32,000. Quarry LP purchased a new stake in shares of Omada Health in the fourth quarter valued at approximately $29,000. TD Waterhouse Canada Inc. bought a new position in Omada Health in the fourth quarter worth approximately $32,000. Inlight Wealth Management LLC purchased a new position in Omada Health during the 4th quarter worth $45,000. Finally, Versant Capital Management Inc increased its holdings in Omada Health by 319.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock worth $66,000 after purchasing an additional 2,283 shares during the period.

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.