Omada Health (NASDAQ:OMDA) Earns "Buy" Rating from BTIG Research

Key Points

• BTIG Research reaffirmed its “Buy” rating on Omada Health and set a $35 price target, implying approximately 62.8% upside from the reported $21.50 share price.
• Analyst sentiment remains broadly positive: 11 analysts rate the stock a Buy, with a consensus “Moderate Buy” rating and an average price target of $26.67.
• Omada Health exceeded quarterly expectations, reporting $0.08 in earnings per share versus a $0.02 loss estimate and revenue of $87.83 million versus an $80.93 million consensus forecast; however, insiders sold 265,923 shares worth about $5.7 million over the last quarter.

Omada Health (NASDAQ:OMDA - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at BTIG Research in a note issued to investors on Friday, Benzinga reports. They presently have a $35.00 target price on the stock. BTIG Research's target price would indicate a potential upside of 62.79% from the company's current price.

OMDA has been the topic of a number of other reports. Canaccord Genuity Group raised their price objective on shares of Omada Health from $24.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. increased their target price on shares of Omada Health from $26.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. Needham & Company LLC reiterated a "buy" rating and set a $28.00 target price on shares of Omada Health in a report on Friday. Citigroup reissued an "outperform" rating on shares of Omada Health in a research note on Friday, August 14th. Finally, Wall Street Zen raised shares of Omada Health from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Eleven investment 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. According to MarketBeat.com, Omada Health has a consensus rating of "Moderate Buy" and an average price target of $26.67.

Omada Health Price Performance

Shares of NASDAQ:OMDA opened at $21.50 on Friday. The firm's 50 day simple moving average is $22.68 and its 200 day simple moving average is $17.91. Omada Health has a fifty-two week low of $10.28 and a fifty-two week high of $26.92. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 430.00 and a beta of 1.86.

Omada Health (NASDAQ:OMDA - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.10. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. The firm had revenue of $87.83 million during the quarter, compared to the consensus estimate of $80.93 million. Equities research analysts expect that Omada Health will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In other news, President Wei-Li Shao sold 8,866 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $25.02, for a total transaction of $221,827.32. Following the completion of the transaction, the president owned 307,372 shares of the company's stock, valued at approximately $7,690,447.44. The trade was a 2.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Craig Gracey sold 1,042 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $25.00, for a total transaction of $26,050.00. Following the completion of the sale, the chief accounting officer owned 15,441 shares in the company, valued at approximately $386,025. The trade was a 6.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 265,923 shares of company stock valued at $5,708,519. 6.38% of the stock is owned by insiders.

Institutional Investors Weigh In On Omada Health

Several hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in Omada Health during the 4th quarter worth $29,000. Raymond James Financial Inc. bought a new stake in shares of Omada Health in the 2nd quarter valued at about $32,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Omada Health in the second quarter valued at about $53,000. Versant Capital Management Inc increased its stake in shares of Omada Health by 319.3% in the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company's stock valued at $66,000 after buying an additional 2,283 shares during the period. Finally, New York State Common Retirement Fund bought a new position in shares of Omada Health during the fourth quarter worth about $73,000.

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.

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