Wells Fargo & Company Has Lowered Expectations for Omada Health (NASDAQ:OMDA) Stock Price

Key Points

• Wells Fargo cut its Omada Health price target from $22 to $19 while maintaining an “equal weight” rating; its new target implies 20.61% upside from the prior close.
• Analyst sentiment remains broadly positive: the consensus rating is “Moderate Buy,” with an average target of $26.50, though recommendations range from Buy to Sell.
• Omada reported quarterly earnings per share of $0.10, beating the $0.02 consensus estimate, on revenue of $91.31 million.

Omada Health (NASDAQ:OMDA - Get Free Report) had its target price dropped by stock analysts at Wells Fargo & Company from $22.00 to $19.00 in a research report issued on Friday, Benzinga reports. The firm presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target points to a potential upside of 20.61% from the company's previous close.

Other analysts have also issued research reports about the company. BMO Capital Markets reiterated an "outperform" rating and set a $24.00 price objective on shares of Omada Health in a report on Friday, August 7th. Citizens Jmp boosted their target price on Omada Health from $27.00 to $32.00 and gave the stock a "market outperform" rating in a research note on Friday, August 14th. JPMorgan Chase & Co. upped their target price on Omada Health from $26.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, August 14th. Robert W. Baird increased their price target on Omada Health from $15.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, August 12th. Finally, Barclays lowered their price target on Omada Health from $27.00 to $24.00 and set an "overweight" rating for the company in a report on Wednesday, October 28th. Eleven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.50.

Omada Health Stock Down 16.9%

NASDAQ:OMDA opened at $15.75 on Friday. Omada Health has a 52 week low of $10.28 and a 52 week high of $25.45. The firm has a 50 day moving average of $20.33 and a 200 day moving average of $17.74. The stock has a market capitalization of $964.40 million, a price-to-earnings ratio of 321.34 and a beta of 2.13.

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

Insider Transactions at Omada Health

In other news, CAO Craig Gracey sold 1,042 shares of the 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 transaction, the chief accounting officer directly owned 15,441 shares of the company's stock, valued at approximately $386,025. This represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven L. Cook sold 6,800 shares of the stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $21.86, for a total value of $148,648.00. Following the completion of the transaction, the chief financial officer directly owned 173,906 shares in the company, valued at $3,801,585.16. This represents a 3.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 106,070 shares of company stock worth $2,462,621. 6.38% of the stock is owned by insiders.

Institutional Investors Weigh In On Omada Health

Large investors have recently bought and sold shares of the company. Sterling Capital Management LLC grew its position in Omada Health by 1,161.6% during the 3rd quarter. Sterling Capital Management LLC now owns 1,577 shares of the company's stock worth $33,000 after purchasing an additional 1,452 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Omada Health during the 2nd quarter valued at about $53,000. State of Alaska Department of Revenue purchased a new position in shares of Omada Health during the 3rd quarter valued at about $59,000. Versant Capital Management Inc lifted its holdings in shares of Omada Health by 319.3% in the 2nd 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, China Universal Asset Management Co. Ltd. acquired a new position in shares of Omada Health in the 3rd quarter valued at about $70,000.

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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