Canaccord Genuity Group Increases Omada Health (NASDAQ:OMDA) Price Target to $28.00

Omada Health (NASDAQ:OMDA) had its target price hoisted by research analysts at Canaccord Genuity Group from $24.00 to $28.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 28.21% from the company’s current price.

Several other research analysts have also commented on OMDA. Citigroup reissued an “outperform” rating on shares of Omada Health in a research note on Monday. BTIG Research began coverage on shares of Omada Health in a report on Friday, July 17th. They set a “buy” rating and a $30.00 target price on the stock. Barclays raised their price target on shares of Omada Health from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Wall Street Zen downgraded shares of Omada Health from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, 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 research note on Friday, May 8th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Omada Health presently has an average rating of “Moderate Buy” and an average target price of $24.33.

Omada Health Trading Down 5.0%

OMDA opened at $21.84 on Tuesday. The stock’s 50-day moving average price is $19.47 and its 200 day moving average price is $15.81. Omada Health has a 12-month low of $10.28 and a 12-month high of $26.92. The firm has a market cap of $1.30 billion and a price-to-earnings ratio of -80.89.

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

Insiders Place Their Bets

In other Omada Health news, CEO Sean P. Duffy sold 25,886 shares of the 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 sale, the chief executive officer directly owned 411,861 shares of the company’s stock, valued at approximately $9,341,007.48. This represents a 5.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Steven L. Cook sold 33,000 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $19.89, for a total transaction of $656,370.00. Following the completion of the sale, the chief financial officer owned 133,359 shares in the company, valued at $2,652,510.51. The trade was a 19.84% 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 in the last 90 days. Corporate insiders own 6.38% of the company’s stock.

Institutional Trading of Omada Health

Institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Omada Health during the 4th quarter worth $1,222,000. a16z Perennial Management L.P. acquired a new position in Omada Health in the fourth quarter valued at $2,480,000. Madryn Asset Management LP acquired a new position in Omada Health in the fourth quarter valued at $9,212,000. Parallel Advisors LLC grew its holdings in shares of Omada Health by 12,235.9% during the fourth quarter. Parallel Advisors LLC now owns 123,359 shares of the company’s stock worth $1,947,000 after purchasing an additional 122,359 shares during the last quarter. 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.