JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Omada Health (NASDAQ:OMDA) Stock

Key Points

• JPMorgan raised its Omada Health price target from $26 to $30 and maintained an “overweight” rating, implying 23.85% potential upside. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $26.50.
• Omada Health reported quarterly EPS of $0.08, beating the consensus estimate of a $0.02 loss, while revenue of $87.83 million exceeded expectations of $80.93 million.
• Shares recently traded at $24.22, down 0.6%, while insiders have sold 254,726 shares worth approximately $5.37 million over the past 90 days.

Omada Health (NASDAQ:OMDA - Get Free Report) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $26.00 to $30.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 23.85% from the stock's current price.

Other research analysts also recently issued reports about the company. Barclays lifted their price target on Omada Health from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, August 3rd. Evercore reiterated an "outperform" rating and issued a $20.00 target price on shares of Omada Health in a report on Friday, May 8th. Citigroup restated an "outperform" rating on shares of Omada Health in a report on Friday. Wall Street Zen upgraded shares of Omada Health from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Finally, Robert W. Baird increased their target price on shares of Omada Health from $15.00 to $25.00 and gave the company a "neutral" rating in a research report on Wednesday. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.50.

Omada Health Trading Down 0.6%

Shares of Omada Health stock traded down $0.15 during trading on Friday, hitting $24.22. 352,076 shares of the stock traded hands, compared to its average volume of 1,269,509. The stock's fifty day simple moving average is $20.87 and its 200 day simple moving average is $16.43. The firm has a market cap of $1.48 billion, a P/E ratio of 484.80 and a beta of 1.73. Omada Health has a 52-week low of $10.28 and a 52-week high of $26.92.

Omada Health (NASDAQ:OMDA - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.10. Omada Health had a net margin of 1.39% and a return on equity of 2.67%. The company had revenue of $87.83 million for the quarter, compared to analysts' expectations of $80.93 million. As a group, equities analysts expect that Omada Health will post -0.01 EPS for the current year.

Insider Activity

In other Omada Health news, CEO Sean P. Duffy sold 25,886 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total transaction of $587,094.48. Following the sale, the chief executive officer owned 411,861 shares of the company's stock, valued at approximately $9,341,007.48. The trade was a 5.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven L. Cook sold 33,000 shares of the company's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $19.89, for a total transaction of $656,370.00. Following the transaction, the chief financial officer owned 133,359 shares in the company, valued at $2,652,510.51. The trade was a 19.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 254,726 shares of company stock worth $5,370,496. Corporate insiders own 6.38% of the company's stock.

Institutional Trading of Omada Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OMDA. Perceptive Advisors LLC acquired a new position in shares of Omada Health in the second quarter valued at about $44,402,000. Millennium Management LLC boosted its position in Omada Health by 1,195.0% in the fourth quarter. Millennium Management LLC now owns 2,272,168 shares of the company's stock valued at $35,855,000 after buying an additional 2,096,705 shares during the last quarter. BlackRock Inc. acquired a new position in Omada Health in the 2nd quarter worth approximately $48,775,000. Loomis Sayles & Co. L P raised its position 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 worth $29,283,000 after buying an additional 346,588 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in Omada Health during the 4th quarter valued at approximately $16,948,000.

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.

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