Omada Health, Inc. (NASDAQ:OMDA) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Omada Health, with 11 buys, two holds and one sell among 14 analysts. The average 12-month price target is $26.50.
• Omada Health exceeded quarterly expectations, reporting $0.08 earnings per share versus a $0.02 loss estimate and revenue of $87.83 million versus an $80.93 million consensus estimate.
• Shares opened at $23.69, near the upper end of their 12-month range of $10.28 to $26.92, while insiders sold 254,726 shares worth approximately $5.37 million over the past three months.

Omada Health, Inc. (NASDAQ:OMDA - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the fourteen analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $26.50.

OMDA has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on Omada Health from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. BMO Capital Markets reiterated an "outperform" rating and issued a $24.00 target price on shares of Omada Health in a research note on Friday, August 7th. Morgan Stanley reissued an "overweight" rating and set a $30.00 target price on shares of Omada Health in a research report on Monday, June 22nd. Weiss Ratings upgraded shares of Omada Health from a "sell (e+)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Omada Health in a report on Friday, May 8th.

Insider Buying and Selling at Omada Health

In other Omada Health news, CFO Steven L. Cook sold 33,000 shares of the business'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 sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean P. Duffy sold 25,886 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total value of $587,094.48. Following the completion of the transaction, the chief executive officer directly owned 411,861 shares in the company, valued at $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 254,726 shares of company stock worth $5,370,496. 6.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Omada Health

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in Omada Health during the 2nd quarter worth approximately $32,000. Bellevue Group AG boosted its holdings in shares of Omada Health by 0.7% in the 3rd quarter. Bellevue Group AG now owns 251,791 shares of the company's stock valued at $5,567,000 after acquiring an additional 1,791 shares during the last quarter. Quarry LP purchased a new stake in shares of Omada Health in the 4th quarter valued at $29,000. Barclays PLC increased its stake in shares of Omada Health by 14.6% in the fourth quarter. Barclays PLC now owns 14,850 shares of the company's stock worth $234,000 after acquiring an additional 1,888 shares during the period. Finally, Versant Capital Management Inc raised its holdings in shares of Omada Health by 319.3% during 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 last quarter.

Omada Health Stock Performance

Shares of OMDA opened at $23.69 on Monday. The firm has a market cap of $1.45 billion, a PE ratio of 473.80 and a beta of 1.73. Omada Health has a 12 month low of $10.28 and a 12 month high of $26.92. The stock has a fifty day moving average price of $22.27 and a 200-day moving average price of $17.20.

Omada Health (NASDAQ:OMDA - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate 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. As a group, research analysts forecast that Omada Health will post 0.09 EPS for the current year.

Omada Health Company Profile

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source