Citizens Jmp Raises Omada Health (NASDAQ:OMDA) Price Target to $32.00

Key Points

• Citizens JMP raised Omada Health’s price target to $32 from $27 and maintained a “market outperform” rating, implying roughly 31% upside from the stock’s $24.37 price.
• Analyst sentiment remains broadly positive: 11 analysts rate OMDA a Buy, two rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $26.17.
• Omada exceeded quarterly expectations, reporting $0.08 in adjusted EPS versus a projected $0.02 loss and revenue of $87.83 million versus an $80.93 million estimate. However, insiders have sold 254,726 shares worth about $5.37 million over the past 90 days.

Omada Health (NASDAQ:OMDA - Get Free Report) had its price objective hoisted by Citizens Jmp from $27.00 to $32.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's target price indicates a potential upside of 31.31% from the stock's current price.

Several other analysts have also commented on OMDA. Citigroup restated an "outperform" rating on shares of Omada Health in a report on Friday. Robert W. Baird lifted their price target on Omada Health from $15.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday. Morgan Stanley reissued an "overweight" rating and set a $30.00 price objective on shares of Omada Health in a research report on Monday, June 22nd. Barclays boosted their target price on shares of Omada Health from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Finally, Canaccord Genuity Group upped 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. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $26.17.

Omada Health Stock Performance

OMDA opened at $24.37 on Friday. Omada Health has a 52-week low of $10.28 and a 52-week high of $26.92. The stock has a market capitalization of $1.49 billion, a PE ratio of 487.40 and a beta of 1.73. The stock's 50 day moving average price is $20.87 and its 200-day moving average price is $16.43.

Omada Health (NASDAQ:OMDA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.10. Omada Health had a return on equity of 2.67% and a net margin of 1.39%.The company had revenue of $87.83 million during the quarter, compared to analyst estimates of $80.93 million. Research analysts forecast that Omada Health will post -0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sean P. Duffy sold 25,886 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total value of $587,094.48. Following the sale, the chief executive officer directly owned 411,861 shares of the company's stock, valued at approximately $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven L. Cook sold 33,000 shares of the company's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $19.89, for a total transaction of $656,370.00. Following the completion of the transaction, the chief financial officer owned 133,359 shares in the company, valued at approximately $2,652,510.51. The trade was a 19.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 254,726 shares of company stock valued at $5,370,496. 6.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Perceptive Advisors LLC purchased a new stake in shares of Omada Health during the second quarter valued at approximately $44,402,000. Millennium Management LLC lifted its position in Omada Health by 1,195.0% in the 4th quarter. Millennium Management LLC now owns 2,272,168 shares of the company's stock valued at $35,855,000 after acquiring an additional 2,096,705 shares in the last quarter. BlackRock Inc. bought a new position in Omada Health in the 2nd quarter valued at approximately $48,775,000. Loomis Sayles & Co. L P boosted its stake in Omada Health by 23.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company's stock valued at $29,283,000 after purchasing an additional 346,588 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Omada Health in the 4th quarter worth $16,948,000.

About Omada Health

Omada Health is a digital health company that specializes in the prevention and management of chronic conditions through personalized, technology-driven programs. The company's platform combines data analytics, behavioral science and human coaching to support individuals at risk for or living with conditions such as prediabetes, type 2 diabetes, hypertension and musculoskeletal disorders. Participants access the program via a mobile app or web portal, where they receive tailored curriculum, feedback on health metrics and ongoing virtual coaching.

In addition to its core disease-management offerings, Omada Health has expanded its services to include mental health support and digital therapeutics for weight management.

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