Omada Health, Inc. (NASDAQ:OMDA) Stock Has Average Price Target of $26.67 According to Brokerages

Key Points

• Analysts maintain a favorable outlook: Omada Health has a consensus “Moderate Buy” rating, with 11 buys, one strong buy, two holds and one sell. The average 12-month price target is $26.67.
• Quarterly results exceeded expectations: Omada reported earnings of $0.08 per share versus the $0.02 loss analysts expected, while revenue reached $87.83 million, topping the $80.93 million consensus estimate.
• Insiders have been selling shares: Company insiders sold 127,642 shares worth approximately $2.92 million during the last quarter; insiders collectively own 6.38% of Omada’s stock.

Omada Health, Inc. (NASDAQ:OMDA - Get Free Report) has received a consensus rating of "Moderate Buy" from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $26.67.

A number of research analysts have recently commented on the company. BMO Capital Markets reaffirmed an "outperform" rating and set a $24.00 price target on shares of Omada Health in a research report on Friday, August 7th. Zacks Research upgraded Omada Health from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Barclays lifted their price objective on Omada Health from $25.00 to $27.00 and gave the stock an "overweight" rating in a report on Friday, September 11th. Robert W. Baird boosted their price objective 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, Citizens Jmp upped their price objective on shares of Omada Health from $27.00 to $32.00 and gave the company a "market outperform" rating in a report on Friday, August 14th.

Insider Transactions at Omada Health

In other news, President Wei-Li Shao sold 8,866 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $25.02, for a total value of $221,827.32. Following the sale, the president owned 307,372 shares of the company's stock, valued at $7,690,447.44. The trade was a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven L. Cook sold 15,235 shares of the company's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $25.03, for a total transaction of $381,332.05. Following the sale, the chief financial officer owned 187,209 shares in the company, valued at $4,685,841.27. The trade was a 7.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 127,642 shares of company stock worth $2,915,201 over the last quarter. Corporate insiders own 6.38% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OMDA. Counterpoint Mutual Funds LLC purchased a new position in Omada Health in the 3rd quarter valued at approximately $595,000. State of Alaska Department of Revenue bought a new stake in Omada Health during the 3rd quarter valued at $59,000. WINTON GROUP Ltd purchased a new stake in shares of Omada Health during the second quarter worth $1,101,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Omada Health during the second quarter worth $53,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Omada Health during the second quarter worth $2,044,000.

Omada Health Trading Up 2.4%

Omada Health stock opened at $18.06 on Tuesday. Omada Health has a 12 month low of $10.28 and a 12 month high of $26.92. The business's 50 day simple moving average is $21.59 and its 200 day simple moving average is $19.19. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 361.20 and a beta of 2.03.

Omada Health (NASDAQ:OMDA - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, beating 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 business had revenue of $87.83 million during the quarter, compared to analyst estimates of $80.93 million. As a group, equities research analysts forecast that Omada Health will post 0.09 earnings per share for the current fiscal year.

About Omada Health

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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