Omada Health, Inc. (NASDAQ:OMDA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Omada Health, Inc. (NASDAQ:OMDA) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $25.10.

OMDA has been the topic of several recent research reports. BMO Capital Markets started coverage on shares of Omada Health in a research note on Thursday, November 13th. They set an “outperform” rating and a $27.00 target price on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Omada Health in a research note on Thursday, January 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 target price on shares of Omada Health in a report on Thursday, January 22nd. Barclays cut their price target on Omada Health from $29.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. Finally, Wells Fargo & Company started coverage on Omada Health in a research note on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 price objective for the company.

Omada Health Price Performance

Shares of NASDAQ:OMDA opened at $11.33 on Wednesday. The firm has a market capitalization of $656.10 million and a PE ratio of -45.32. Omada Health has a 1 year low of $10.70 and a 1 year high of $28.40. The firm’s 50-day moving average is $15.24 and its two-hundred day moving average is $19.54.

Insider Activity at Omada Health

In other Omada Health news, President Wei-Li Shao sold 5,618 shares of the stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $16.13, for a total value of $90,618.34. Following the sale, the president directly owned 69,079 shares of the company’s stock, valued at approximately $1,114,244.27. This represents a 7.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sean P. Duffy sold 230,479 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $15.60, for a total transaction of $3,595,472.40. Following the completion of the sale, the chief executive officer owned 126,644 shares in the company, valued at $1,975,646.40. The trade was a 64.54% 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 276,893 shares of company stock valued at $4,336,787 in the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Cigna Investments Inc. New bought a new position in Omada Health in the third quarter worth about $76,161,000. Fortress Investment Group LLC acquired a new stake in Omada Health in the 2nd quarter valued at approximately $2,878,000. Bellevue Group AG acquired a new position in shares of Omada Health during the second quarter valued at $4,575,000. Federated Hermes Inc. acquired a new position in Omada Health during the 2nd quarter valued at about $9,150,000. Finally, Jennison Associates LLC acquired a new position in shares of Omada Health during the second quarter valued at approximately $4,580,000.

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.