Omada Health (NASDAQ:OMDA) Upgraded at BTIG Research

BTIG Research upgraded shares of Omada Health (NASDAQ:OMDA) to a strong-buy rating in a report published on Friday,Zacks.com reports.

A number of other brokerages also recently issued reports on OMDA. The Goldman Sachs Group restated a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. Barclays boosted their price objective 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. Evercore restated an “outperform” rating and issued a $20.00 target price on shares of Omada Health in a report on Friday, May 8th. Canaccord Genuity Group set a $24.00 price target on shares of Omada Health in a research note on Friday, May 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of Omada Health in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Omada Health Price Performance

Shares of NASDAQ OMDA opened at $23.70 on Friday. Omada Health has a 1-year low of $10.28 and a 1-year high of $26.92. The business’s 50 day moving average is $19.01 and its two-hundred day moving average is $15.66. The stock has a market capitalization of $1.41 billion and a P/E ratio of -87.78.

Omada Health (NASDAQ:OMDA) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.03. The business 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%. As a group, equities research analysts anticipate that Omada Health will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Omada Health

In other Omada Health news, CAO Craig Gracey sold 2,083 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer directly owned 858 shares in the company, valued at $18,018. This trade represents a 70.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sean P. Duffy sold 25,886 shares of Omada Health stock in a transaction 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 trade represents a 5.91% 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 worth $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 and other institutional investors have recently made changes to their positions in OMDA. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Omada Health during the 4th quarter worth about $1,222,000. a16z Perennial Management L.P. bought a new stake in shares of Omada Health in the 4th quarter valued at about $2,480,000. Madryn Asset Management LP bought a new stake in shares of Omada Health in the 4th quarter valued at about $9,212,000. Parallel Advisors LLC lifted its position 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 worth $1,947,000 after purchasing an additional 122,359 shares during the period. Finally, Independent Advisor Alliance bought a new position in shares of Omada Health during the fourth quarter valued at approximately $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.