Omada Health (NASDAQ:OMDA) Upgraded at Wall Street Zen

Omada Health (NASDAQ:OMDA) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research firms also recently issued reports on OMDA. Canaccord Genuity Group set a $24.00 target price on Omada Health in a research report on Friday, May 8th. Barclays lifted 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. The Goldman Sachs Group reiterated a “buy” rating on shares of Omada Health in a research note on Friday, May 8th. Wells Fargo & Company increased their price objective on Omada Health from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, Citizens Jmp raised their price objective on Omada Health from $18.00 to $21.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $22.91.

Omada Health Trading Up 10.5%

NASDAQ:OMDA opened at $20.89 on Friday. The company has a market cap of $1.24 billion and a PE ratio of -77.37. Omada Health has a twelve month low of $10.28 and a twelve month high of $26.92. The company’s 50 day moving average is $16.51 and its two-hundred day moving average is $14.85.

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

Insider Buying and Selling at Omada Health

In related news, CEO Sean P. Duffy sold 14,158 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $20.00, for a total transaction of $283,160.00. Following the completion of the transaction, the chief executive officer owned 394,603 shares of the company’s stock, valued at $7,892,060. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Craig Gracey sold 2,083 shares of the business’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $19.01, for a total transaction of $39,597.83. Following the transaction, the chief accounting officer owned 5,025 shares of the company’s stock, valued at $95,525.25. This represents a 29.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 78,346 shares of company stock worth $1,411,799 over the last ninety days. 6.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Omada Health

Several institutional investors and hedge funds have recently modified their holdings of OMDA. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Omada Health in the fourth quarter valued at $1,222,000. Divisadero Street Capital Management LP purchased a new stake in shares of Omada Health during the 3rd quarter worth about $30,510,000. a16z Perennial Management L.P. purchased a new stake in shares of Omada Health during the 4th quarter worth about $2,480,000. Madryn Asset Management LP acquired a new stake in shares of Omada Health during the 4th quarter valued at about $9,212,000. Finally, Independent Advisor Alliance acquired a new stake in shares of Omada Health during the 4th quarter valued at about $717,000.

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.