Omada Health (NASDAQ:OMDA) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Omada Health from “hold” to “strong buy.” Overall, analysts maintain a “moderate buy” consensus with an average price target of $26.67.
• Omada Health reported quarterly EPS of $0.08, beating estimates by $0.10, while revenue of $87.83 million exceeded the $80.93 million consensus forecast.
• The stock opened at $20.89, up 0.8%, but recent insider activity was negative: insiders sold 127,642 shares worth approximately $2.9 million over the last quarter.

Omada Health (NASDAQ:OMDA - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued to investors on Tuesday, Zacks reports.

Other equities research analysts have also issued reports about the company. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price target on shares of Omada Health in a report on Friday, September 11th. Citizens Jmp raised their price objective on shares of Omada Health from $27.00 to $32.00 and gave the company a "market outperform" rating in a research report on Friday, August 14th. Citigroup reiterated an "outperform" rating on shares of Omada Health in a research note on Friday, August 14th. Canaccord Genuity Group boosted their target price on shares of Omada Health from $24.00 to $28.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, Robert W. Baird raised their price target on shares of Omada Health from $15.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $26.67.

Omada Health Trading Up 0.8%

Shares of NASDAQ:OMDA opened at $20.89 on Tuesday. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 417.80 and a beta of 2.03. Omada Health has a 1 year low of $10.28 and a 1 year high of $26.92. The business has a fifty day simple moving average of $21.84 and a 200 day simple moving average of $18.82.

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 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 firm had revenue of $87.83 million for the quarter, compared to the consensus estimate of $80.93 million. On average, sell-side analysts forecast that Omada Health will post 0.09 EPS for the current year.

Insider Buying and Selling

In other Omada Health news, President Wei-Li Shao sold 4,036 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $21.85, for a total transaction of $88,186.60. Following the completion of the sale, the president owned 295,313 shares of the company's stock, valued at $6,452,589.05. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sean Duffy sold 17,258 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $20.68, for a total value of $356,895.44. Following the transaction, the chief executive officer owned 382,594 shares in the company, valued at approximately $7,912,043.92. This trade represents a 4.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 127,642 shares of company stock valued at $2,915,201 in the last quarter. Company insiders own 6.38% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of OMDA. Integrated Wealth Concepts LLC acquired a new position in Omada Health during the 2nd quarter worth $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 worth $66,000 after purchasing an additional 2,283 shares during the period. Legal & General Group Plc bought a new position in shares of Omada Health in the second quarter worth about $76,000. Fifth Third Bancorp acquired a new position in shares of Omada Health during the 1st quarter worth about $127,000. Finally, Entropy Technologies LP bought a new stake in Omada Health during the 1st quarter valued at approximately $194,000.

Omada Health Company Profile

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.

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