Omada Health (NASDAQ:OMDA) Stock Rating Lowered by Wall Street Zen

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

A number of other brokerages have also recently commented on OMDA. Citigroup reaffirmed an “outperform” rating on shares of Omada Health in a report on Friday, May 8th. JPMorgan Chase & Co. reduced their price objective on shares of Omada Health from $32.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. BMO Capital Markets reduced their price objective on shares of Omada Health from $27.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price objective on shares of Omada Health in a research note on Friday, May 8th. Finally, Citizens Jmp increased 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. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.91.

Omada Health Trading Up 0.8%

Shares of OMDA stock opened at $17.97 on Friday. Omada Health has a 12 month low of $10.28 and a 12 month high of $28.40. The stock has a market cap of $1.07 billion and a P/E ratio of -66.56. The company has a 50 day simple moving average of $14.39 and a two-hundred day simple moving average of $14.97.

Omada Health (NASDAQ:OMDA) last announced its 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 business had revenue of $78.05 million during the quarter. As a group, equities analysts forecast that Omada Health will post -0.01 earnings per share for the current year.

Insider Transactions at Omada Health

In other news, CFO Steven L. Cook sold 1,884 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $13.94, for a total value of $26,262.96. Following the completion of the sale, the chief financial officer directly owned 200,512 shares of the company’s stock, valued at $2,795,137.28. This represents a 0.93% 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, CEO Sean P. Duffy sold 4,063 shares of the stock in a transaction on Monday, March 9th. The stock was sold at an average price of $14.34, for a total transaction of $58,263.42. Following the completion of the sale, the chief executive officer directly owned 117,598 shares of the company’s stock, valued at approximately $1,686,355.32. This trade represents a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,776 shares of company stock valued at $120,483 over the last three months. Corporate insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Omada Health

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE boosted its position in shares of Omada Health by 51.5% during the first quarter. Bank of America Corp DE now owns 161,099 shares of the company’s stock worth $2,025,000 after acquiring an additional 54,792 shares during the last quarter. Stoic Point Capital Management LLC bought a new position in shares of Omada Health during the first quarter worth $1,830,000. Quantinno Capital Management LP boosted its position in shares of Omada Health by 464.1% during the first quarter. Quantinno Capital Management LP now owns 58,723 shares of the company’s stock worth $738,000 after acquiring an additional 48,313 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Omada Health during the first quarter worth $194,000. Finally, Renaissance Technologies LLC boosted its position in shares of Omada Health by 173.9% during the first quarter. Renaissance Technologies LLC now owns 391,069 shares of the company’s stock worth $4,916,000 after acquiring an additional 248,269 shares during the last quarter.

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.