Citizens Jmp Forecasts Strong Price Appreciation for Omada Health (NASDAQ:OMDA) Stock

Omada Health (NASDAQ:OMDA) had its price objective lifted by research analysts at Citizens Jmp from $21.00 to $27.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price target indicates a potential upside of 17.44% from the company’s previous close.

A number of other brokerages have also recently issued reports on OMDA. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Omada Health in a report on Friday, May 8th. Wells Fargo & Company boosted their price target on Omada Health from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings lowered Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, July 13th. Barclays raised their price objective on Omada Health from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Citigroup reiterated an “outperform” rating on shares of Omada Health in a research note on Monday. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.33.

Omada Health Trading Down 3.8%

Shares of OMDA opened at $22.99 on Monday. The company’s fifty day simple moving average is $19.35 and its 200 day simple moving average is $15.77. Omada Health has a 1-year low of $10.28 and a 1-year high of $26.92. The company has a market cap of $1.37 billion and a price-to-earnings ratio of -85.15.

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. Omada Health had a negative net margin of 2.22% and a negative return on equity of 1.82%. The firm had revenue of $78.05 million during the quarter. As a group, research analysts forecast that Omada Health will post -0.01 earnings per share for the current year.

Insider Transactions at Omada Health

In other Omada Health news, CEO Sean P. Duffy sold 25,886 shares of the stock in a transaction dated 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 directly owned 411,861 shares of the company’s stock, valued at $9,341,007.48. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Craig Gracey sold 2,083 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $21.00, for a total transaction of $43,743.00. Following the sale, the chief accounting officer owned 858 shares of the company’s stock, valued at $18,018. This trade represents a 70.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 193,462 shares of company stock worth $3,927,425. 6.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Omada Health

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP bought a new position in shares of Omada Health during the fourth quarter worth approximately $29,000. TD Waterhouse Canada Inc. bought a new stake in Omada Health in the 4th quarter valued at $32,000. Raymond James Financial Inc. acquired a new position in Omada Health in the 2nd quarter valued at $32,000. Inlight Wealth Management LLC bought a new position in Omada Health during the 4th quarter worth $45,000. Finally, Versant Capital Management Inc increased its position in Omada Health by 319.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock worth $66,000 after buying an additional 2,283 shares during the period.

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.