Omada Health (NASDAQ:OMDA) Stock Gets Downgrade from Zacks Research

Key Points

• Zacks Research downgraded Omada Health from “strong buy” to “hold.” Analyst views remain broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $26.42.
• Omada reported quarterly EPS of $0.10, beating the $0.02 consensus estimate, and revenue of $91.31 million.
• The stock opened at $18.95 on Wednesday, down 2.5%; company insiders sold 106,070 shares worth about $2.46 million over the past three months.

Omada Health (NASDAQ:OMDA - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report issued on Wednesday, Zacks reports.

Several other research analysts have also recently commented on OMDA. Weiss Ratings cut Omada Health from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, October 8th. Robert W. Baird lifted their price objective on Omada Health from $15.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, August 12th. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price objective on shares of Omada Health in a research note on Friday, September 11th. Wall Street Zen raised Omada Health from a "hold" rating to a "buy" rating in a research report on Sunday, October 11th. Finally, Citizens Jmp upped their target price on shares of Omada Health from $27.00 to $32.00 and gave the stock a "market outperform" rating in a research note on Friday, August 14th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $26.42.

Omada Health Stock Down 2.5%

NASDAQ:OMDA opened at $18.95 on Wednesday. Omada Health has a 52 week low of $10.28 and a 52 week high of $25.45. The company has a fifty day simple moving average of $20.33 and a two-hundred day simple moving average of $17.74. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 242.88 and a beta of 2.13.

Omada Health (NASDAQ:OMDA - Get Free Report) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. The business had revenue of $91.31 million for the quarter. Omada Health had a return on equity of 2.60% and a net margin of 1.39%. On average, analysts expect that Omada Health will post 0.09 EPS for the current year.

Insider Activity at Omada Health

In related news, President Wei-Li Shao sold 8,866 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $25.02, for a total value of $221,827.32. Following the completion of the transaction, the president directly owned 307,372 shares of the company's stock, valued at $7,690,447.44. This represents a 2.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Steven Cook sold 15,235 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $25.03, for a total transaction of $381,332.05. Following the completion of the transaction, the chief financial officer owned 187,209 shares in the company, valued at $4,685,841.27. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 106,070 shares of company stock valued at $2,462,621 over the last three months. 6.38% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Omada Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Walleye Capital LLC purchased a new stake in Omada Health in the second quarter valued at approximately $11,648,000. Quantinno Capital Management LP grew 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. GSA Capital Partners LLP purchased a new position in shares of Omada Health during the second quarter worth approximately $1,289,000. AlpInvest Partners B.V. acquired a new position in shares of Omada Health in the 2nd quarter valued at $1,182,000. Finally, Corient Private Wealth LP acquired a new position in shares of Omada Health in the 2nd quarter valued at $3,108,000.

Omada Health Company Profile

Omada Health, Inc NASDAQ: OMDA is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines personalized health coaching, clinical support, behavioral-change tools and connected devices to help members monitor and improve their health.

The company's offerings focus primarily on cardiometabolic conditions, including diabetes, prediabetes, hypertension and obesity, as well as musculoskeletal conditions. Depending on the program, members may receive access to digital lessons, health tracking, remote monitoring, care teams and clinical guidance through Omada's technology platform.

Omada Health was founded in 2011 and serves employers, health plans and other healthcare organizations in the United States.

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