Omada Health, Inc. (NASDAQ:OMDA) Receives $22.91 Average Price Target from Analysts

Omada Health, Inc. (NASDAQ:OMDA) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $22.9091.

A number of research analysts recently issued reports on OMDA shares. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Omada Health in a research report on Friday, May 8th. Citigroup restated an “outperform” rating on shares of Omada Health in a research report on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $30.00 price target on shares of Omada Health in a research note on Monday, June 22nd. Weiss Ratings lowered shares of Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday. Finally, Citizens Jmp boosted their price objective on shares of Omada Health from $18.00 to $21.00 and gave the stock a “market outperform” rating in a research note on Friday, May 8th.

Omada Health Stock Down 0.3%

Shares of OMDA opened at $23.44 on Friday. The stock has a market cap of $1.39 billion and a PE ratio of -86.81. Omada Health has a 12-month low of $10.28 and a 12-month high of $26.92. The business has a 50-day simple moving average of $18.53 and a two-hundred day simple moving average of $15.50.

Omada Health (NASDAQ:OMDA) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $78.05 million for the quarter. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%. On average, equities research analysts expect that Omada Health will post -0.01 EPS for the current year.

Insider Activity

In other news, CEO Sean P. Duffy sold 25,886 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total value of $587,094.48. Following the transaction, the chief executive officer owned 411,861 shares in the company, valued at approximately $9,341,007.48. The trade was a 5.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Craig Gracey sold 2,083 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $21.00, for a total transaction of $43,743.00. Following the completion of the sale, the chief accounting officer directly owned 858 shares in the company, valued at approximately $18,018. This represents a 70.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 193,462 shares of company stock valued at $3,927,425. Company insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Omada Health

A number of hedge funds have recently bought and sold shares of OMDA. Raymond James Financial Inc. acquired a new position in shares of Omada Health in the 2nd quarter valued at about $32,000. Bellevue Group AG grew its stake in Omada Health by 0.7% during the third 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. Quarry LP acquired a new stake in Omada Health during the fourth quarter worth approximately $29,000. Barclays PLC increased its holdings in Omada Health by 14.6% in the fourth quarter. Barclays PLC now owns 14,850 shares of the company’s stock worth $234,000 after purchasing an additional 1,888 shares in the last quarter. Finally, TD Waterhouse Canada Inc. bought a new stake in Omada Health in the fourth quarter worth approximately $32,000.

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.