Insider Selling: Omada Health (NASDAQ:OMDA) CEO Sells 8,628 Shares

Key Points

• CEO Sean Duffy sold 8,628 Omada Health shares at an average price of $21.85, generating $188,521.80 and reducing his direct ownership by 2.05% to 411,861 shares.
• Omada Health shares fell 3.9% to $24.01, despite the company reporting quarterly EPS of $0.08—beating estimates by $0.10—and revenue of $87.83 million, above analyst expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $25.67; institutional investors have also recently initiated or expanded positions.

Omada Health, Inc. (NASDAQ:OMDA - Get Free Report) CEO Sean Duffy sold 8,628 shares of the business's stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $21.85, for a total value of $188,521.80. Following the completion of the sale, the chief executive officer directly owned 411,861 shares of the company's stock, valued at approximately $8,999,162.85. This represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Omada Health Trading Down 3.9%

NASDAQ OMDA traded down $0.98 on Tuesday, hitting $24.01. 1,906,414 shares of the stock traded hands, compared to its average volume of 1,272,868. The stock has a 50-day moving average of $20.49 and a 200 day moving average of $16.26. Omada Health, Inc. has a twelve month low of $10.28 and a twelve month high of $26.92. The company has a market capitalization of $1.43 billion, a P/E ratio of 480.20 and a beta of 1.73.

Omada Health (NASDAQ:OMDA - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate 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. As a group, equities research analysts expect that Omada Health, Inc. will post -0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

OMDA has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Omada Health from $17.00 to $18.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $28.00 price target on shares of Omada Health in a report on Friday, May 8th. Canaccord Genuity Group boosted their price objective on shares of Omada Health from $24.00 to $28.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. Barclays increased their price objective on shares of Omada Health from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, August 3rd. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Omada Health in a research note on Friday, May 8th. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Omada Health has a consensus rating of "Moderate Buy" and an average target price of $25.67.

Hedge Funds Weigh In On Omada Health

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Omada Health in the 2nd quarter valued at about $32,000. Quarry LP bought a new position in Omada Health in the 4th quarter worth about $29,000. TD Waterhouse Canada Inc. bought a new position in Omada Health in the 4th quarter worth about $32,000. Inlight Wealth Management LLC acquired a new stake in shares of Omada Health in the fourth quarter valued at approximately $45,000. Finally, Versant Capital Management Inc increased its stake in shares of Omada Health by 319.3% in the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company's stock valued at $66,000 after purchasing an additional 2,283 shares during the period.

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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