Omada Health (NASDAQ:OMDA) Rating Lowered to “Hold” at Wall Street Zen

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

OMDA has been the subject of several other reports. Morgan Stanley restated an “overweight” rating and set a $30.00 price target on shares of Omada Health in a report on Monday, June 22nd. Barclays increased their price objective on shares of Omada Health from $18.00 to $20.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. BTIG Research began coverage on Omada Health in a research note on Friday. They issued a “buy” rating and a $30.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. Finally, Evercore restated an “outperform” rating and issued a $20.00 price target on shares of Omada Health in a research note on Friday, May 8th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Omada Health currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

Omada Health Stock Up 0.1%

Shares of Omada Health stock opened at $23.70 on Friday. The firm has a market cap of $1.41 billion and a PE ratio of -87.78. Omada Health has a 12-month low of $10.28 and a 12-month high of $26.92. The company’s fifty day simple moving average is $19.01 and its two-hundred day simple moving average is $15.66.

Omada Health (NASDAQ:OMDA) last released 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. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%.The business had revenue of $78.05 million during the quarter. As a group, sell-side analysts expect that Omada Health will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Omada Health

In other Omada Health news, CFO Steven L. Cook sold 33,000 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $19.89, for a total value of $656,370.00. Following the transaction, the chief financial officer owned 133,359 shares of the company’s stock, valued at $2,652,510.51. This represents a 19.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Craig Gracey sold 6,894 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $17.42, for a total value of $120,093.48. Following the transaction, the chief accounting officer owned 9,191 shares in the company, valued at $160,107.22. The trade was a 42.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 193,462 shares of company stock worth $3,927,425 over the last 90 days. Company insiders own 6.38% of the company’s stock.

Institutional Trading of Omada Health

Hedge funds and other institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Omada Health in the 4th quarter valued at about $1,222,000. a16z Perennial Management L.P. purchased a new stake in shares of Omada Health in the 4th quarter valued at approximately $2,480,000. Madryn Asset Management LP purchased a new stake in Omada Health in the fourth quarter valued at $9,212,000. Parallel Advisors LLC increased its holdings in shares of Omada Health by 12,235.9% in the 4th quarter. Parallel Advisors LLC now owns 123,359 shares of the company’s stock valued at $1,947,000 after acquiring an additional 122,359 shares during the period. Finally, Independent Advisor Alliance purchased a new position in shares of Omada Health during the fourth quarter worth 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.