Omada Health (NASDAQ:OMDA) Earns “Buy” Rating from Needham & Company LLC

Omada Health (NASDAQ:OMDA)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports. They currently have a $28.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 69.49% from the company’s previous close.

Several other brokerages have also recently weighed in on OMDA. Morgan Stanley set a $32.00 price target on shares of Omada Health in a research report on Thursday, December 18th. Weiss Ratings restated a “sell (d)” rating on shares of Omada Health in a report on Wednesday, October 8th. Barclays cut their target price on Omada Health from $29.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, January 5th. Evercore ISI increased their price target on Omada Health from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Finally, Wells Fargo & Company began coverage on shares of Omada Health in a report on Thursday, January 8th. They set 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.10.

Omada Health Price Performance

Shares of NASDAQ OMDA opened at $16.52 on Thursday. The stock has a market capitalization of $956.67 million and a P/E ratio of -66.08. The company has a 50-day moving average price of $16.38 and a 200-day moving average price of $19.88. Omada Health has a 1 year low of $14.14 and a 1 year high of $28.40.

Insiders Place Their Bets

In other news, President Wei-Li Shao sold 5,618 shares of the firm’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $16.13, for a total transaction of $90,618.34. Following the completion of the sale, the president directly owned 69,079 shares of the company’s stock, valued at $1,114,244.27. This trade represents a 7.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sean P. Duffy sold 40,796 shares of Omada Health stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $15.95, for a total value of $650,696.20. Following the sale, the chief executive officer owned 126,644 shares in the company, valued at $2,019,971.80. The trade was a 24.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 276,893 shares of company stock worth $4,336,787 over the last quarter.

Hedge Funds Weigh In On Omada Health

Several institutional investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in Omada Health in the third quarter worth about $38,000. Raymond James Financial Inc. purchased a new stake in shares of Omada Health during the 2nd quarter worth approximately $32,000. Bellevue Group AG raised its holdings in shares of Omada Health by 0.7% in the 3rd quarter. Bellevue Group AG now owns 251,791 shares of the company’s stock worth $5,567,000 after purchasing an additional 1,791 shares during the period. Rakuten Investment Management Inc. purchased a new position in Omada Health in the third quarter valued at approximately $49,000. Finally, Inlight Wealth Management LLC bought a new position in Omada Health during the fourth quarter valued at $45,000.

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.