Omada Health, Inc. (NASDAQ:OMDA) Short Interest Down 21.0% in March

Omada Health, Inc. (NASDAQ:OMDA) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 2,843,612 shares, a decrease of 21.0% from the February 26th total of 3,600,814 shares. Approximately 4.8% of the company’s stock are sold short. Based on an average daily volume of 2,204,266 shares, the short-interest ratio is currently 1.3 days.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on OMDA shares. Wells Fargo & Company started coverage on Omada Health in a report on Thursday, January 8th. They set an “equal weight” rating and a $17.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $28.00 target price on shares of Omada Health in a report on Thursday, January 22nd. Wall Street Zen raised Omada Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. BMO Capital Markets dropped their price target on Omada Health from $27.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Omada Health in a research report on Thursday, January 22nd. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Omada Health presently has a consensus rating of “Moderate Buy” and an average target price of $23.60.

Omada Health Stock Down 10.1%

Shares of OMDA stock opened at $11.85 on Friday. The stock’s 50-day moving average price is $13.43 and its 200 day moving average price is $17.71. The stock has a market capitalization of $698.20 million and a PE ratio of -69.71. Omada Health has a 52-week low of $10.28 and a 52-week high of $28.40.

Omada Health (NASDAQ:OMDA) last posted its quarterly earnings data on Thursday, March 5th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.12. The company had revenue of $75.85 million for the quarter.

Insiders Place Their Bets

In related news, CFO Steven L. Cook sold 1,884 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $13.94, for a total value of $26,262.96. Following the transaction, the chief financial officer directly owned 200,512 shares of the company’s stock, valued at $2,795,137.28. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sean P. Duffy sold 4,063 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $14.34, for a total transaction of $58,263.42. Following the completion of the sale, the chief executive officer directly owned 117,598 shares of the company’s stock, valued at approximately $1,686,355.32. This trade represents a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 282,840 shares of company stock valued at $4,421,313.

Hedge Funds Weigh In On Omada Health

A number of hedge funds and other institutional investors have recently bought and sold shares of OMDA. Cigna Investments Inc. New acquired a new position in Omada Health in the 3rd quarter valued at $76,161,000. Perceptive Advisors LLC acquired a new stake in shares of Omada Health in the 2nd quarter worth $44,402,000. Millennium Management LLC boosted its holdings in shares of Omada Health by 1,195.0% in the fourth quarter. Millennium Management LLC now owns 2,272,168 shares of the company’s stock valued at $35,855,000 after acquiring an additional 2,096,705 shares in the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Omada Health by 23.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock valued at $29,283,000 after acquiring an additional 346,588 shares in the last quarter. Finally, Divisadero Street Capital Management LP acquired a new position in shares of Omada Health during the third quarter worth about $30,510,000.

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.