Wall Street Zen Upgrades Omada Health (NASDAQ:OMDA) to "Buy"

Key Points

• Wall Street Zen upgraded Omada Health to “Buy” from “Hold.” The stock has a consensus “Moderate Buy” rating, with an average analyst price target of $26.67.
• Omada Health reported quarterly revenue of $87.83 million and earnings of $0.08 per share, beating analyst expectations for $80.93 million in revenue and a $0.02-per-share loss.
• Shares opened at $21.55 and have traded between $10.28 and $26.92 over the past year. Institutional investors, including BlackRock, recently added positions, while company insiders sold about $2.9 million in stock over the last quarter.

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

Several other research firms have also recently weighed in on OMDA. Morgan Stanley reiterated an "overweight" rating and set a $30.00 price objective on shares of Omada Health in a report on Monday, June 22nd. Canaccord Genuity Group increased their target price on Omada Health from $24.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. BTIG Research restated a "buy" rating and set a $35.00 target price on shares of Omada Health in a report on Friday, September 11th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $24.00 price target on shares of Omada Health in a research note on Friday, August 7th. Finally, Weiss Ratings lowered shares of Omada Health from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday. One equities research 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Omada Health presently has a consensus rating of "Moderate Buy" and an average target price of $26.67.

Omada Health Trading Up 3.5%

Shares of OMDA stock opened at $21.55 on Friday. Omada Health has a 1 year low of $10.28 and a 1 year high of $26.92. The firm's fifty day simple moving average is $21.89 and its 200 day simple moving average is $18.89. The firm has a market capitalization of $1.32 billion, a P/E ratio of 431.00 and a beta of 2.03.

Omada Health (NASDAQ:OMDA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.08 earnings per share 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 the consensus estimate of $80.93 million. Equities research analysts anticipate that Omada Health will post 0.09 EPS for the current fiscal year.

Insider Transactions at Omada Health

In other Omada Health news, CAO Craig Gracey sold 1,042 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $25.00, for a total transaction of $26,050.00. Following the completion of the transaction, the chief accounting officer owned 15,441 shares of the company's stock, valued at $386,025. This represents a 6.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, President Wei-Li Shao sold 4,036 shares of the firm'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 transaction, the president directly 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 127,642 shares of company stock worth $2,915,201. 6.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Omada Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Walleye Capital LLC acquired a new position in Omada Health during the second quarter valued at approximately $11,648,000. Quantinno Capital Management LP raised its stake in shares of Omada Health by 464.1% during the 1st quarter. Quantinno Capital Management LP now owns 58,723 shares of the company's stock worth $738,000 after purchasing an additional 48,313 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Omada Health during the 2nd quarter worth approximately $1,289,000. AlpInvest Partners B.V. acquired a new stake in shares of Omada Health in the 2nd quarter valued at approximately $1,182,000. Finally, BlackRock Inc. bought a new position in shares of Omada Health in the second quarter valued at $48,775,000.

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.

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.