Omada Health (NASDAQ:OMDA) Given New $28.00 Price Target at Canaccord Genuity Group

Omada Health (NASDAQ:OMDA) had its price objective increased by Canaccord Genuity Group from $24.00 to $28.00 in a research note issued to investors on Tuesday morning, Marketbeat.com reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on OMDA. Wall Street Zen cut Omada Health from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings lowered shares of Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, July 13th. Citizens Jmp increased their price objective on shares of Omada Health from $21.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Monday. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Omada Health in a report on Friday, May 8th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Omada Health presently has a consensus rating of “Moderate Buy” and an average price target of $24.33.

Omada Health Price Performance

NASDAQ OMDA opened at $22.99 on Tuesday. The stock has a market capitalization of $1.37 billion and a price-to-earnings ratio of -85.15. Omada Health has a 1-year low of $10.28 and a 1-year high of $26.92. The business’s fifty day moving average price is $19.35 and its 200-day moving average price is $15.77.

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

Insider Activity at Omada Health

In related 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 transaction, the chief executive officer directly owned 411,861 shares in the company, valued at approximately $9,341,007.48. The trade was a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Craig Gracey sold 6,894 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.42, for a total value of $120,093.48. Following the sale, the chief accounting officer directly owned 9,191 shares of the company’s stock, valued at $160,107.22. This represents a 42.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 193,462 shares of company stock worth $3,927,425. Corporate insiders own 6.38% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new stake in Omada Health in the 4th quarter worth approximately $29,000. TD Waterhouse Canada Inc. bought a new stake in Omada Health during the 4th quarter worth approximately $32,000. Raymond James Financial Inc. purchased a new position in Omada Health during the second quarter valued at approximately $32,000. Inlight Wealth Management LLC bought a new position in shares of Omada Health in the fourth quarter worth approximately $45,000. Finally, Versant Capital Management Inc boosted its position in shares of Omada Health by 319.3% in the second 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.

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.