Omada Health (NASDAQ:OMDA) Stock Bumped Down to "Hold" by Wall Street Zen

Key Points

• Wall Street Zen downgraded Omada Health from “buy” to “hold,” although the broader analyst consensus remains “Moderate Buy,” with 11 buy ratings, two holds and one sell rating.
• Analysts’ average price target is $26.67, while recent targets range from $27 to $35. The stock opened at $20.37 and has traded between $10.28 and $26.92 over the past year.
• Omada Health exceeded quarterly expectations, reporting $0.08 EPS versus a projected loss of $0.02 and revenue of $87.83 million versus an $80.93 million estimate. Insiders sold 122,721 shares worth approximately $2.84 million during the last quarter.

Omada Health (NASDAQ:OMDA - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the company. Citizens Jmp boosted their price objective on Omada Health from $27.00 to $32.00 and gave the company a "market outperform" rating in a report on Friday, August 14th. BTIG Research reiterated a "buy" rating and set a $35.00 price target on shares of Omada Health in a research note on Friday, September 11th. JPMorgan Chase & Co. increased their price target on shares of Omada Health from $26.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Barclays raised their price objective on shares of Omada Health from $25.00 to $27.00 and gave the company an "overweight" rating in a research note on Friday, September 11th. Finally, Weiss Ratings raised shares of Omada Health from a "sell (e+)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $26.67.

Omada Health Stock Performance

Omada Health stock opened at $20.37 on Friday. Omada Health has a fifty-two week low of $10.28 and a fifty-two week high of $26.92. The firm has a 50 day moving average price of $21.80 and a 200 day moving average price of $18.66. The company has a market capitalization of $1.25 billion, a PE ratio of 407.40 and a beta of 2.03.

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

Insider Buying and Selling

In other news, CAO Craig Gracey sold 1,042 shares of Omada Health stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $25.00, for a total value of $26,050.00. Following the completion of the transaction, the chief accounting officer owned 15,441 shares in the company, valued at approximately $386,025. This trade represents a 6.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Wei-Li Shao sold 4,036 shares of the business's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $21.85, for a total value of $88,186.60. Following the transaction, the president directly owned 295,313 shares of the company's stock, valued at approximately $6,452,589.05. This represents a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 122,721 shares of company stock worth $2,843,167 in the last quarter. Company insiders own 6.38% of the company's stock.

Institutional Trading of Omada Health

Several hedge funds have recently added to or reduced their stakes in OMDA. Versant Capital Management Inc grew its stake in shares of Omada Health by 319.3% during the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company's stock worth $66,000 after purchasing an additional 2,283 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Omada Health during the 2nd quarter worth about $53,000. Legal & General Group Plc purchased a new position in shares of Omada Health in the 2nd quarter valued at about $76,000. The Manufacturers Life Insurance Company purchased a new stake in Omada Health during the second quarter worth approximately $215,000. Finally, Fifth Third Bancorp acquired a new position in Omada Health in the first quarter valued at approximately $127,000.

About Omada Health

Omada Health, Inc is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines connected health devices, digital tools, health coaching and clinical support to help members improve their health and manage conditions such as diabetes, hypertension and musculoskeletal disorders.

The company's services are designed for employers, health plans and other healthcare organizations seeking to support populations with ongoing healthcare needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.