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

Key Points

• Analyst sentiment remains bullish: Omada Health has an average rating of “Moderate Buy” from 13 analysts, with 10 buy ratings and an average 12-month price target of about $22.91.
• Shares dipped despite positive coverage: The stock fell 1.1% to $23.28 in Friday trading, though it remains near its 52-week high of $26.92 and above its 50-day and 200-day moving averages.
• Insiders have been selling shares: Recent transactions included sales by the CAO and CFO, and insiders sold 193,462 shares worth about $3.93 million over the last three months.

Shares of Omada Health, Inc. (NASDAQ:OMDA - Get Free Report) have earned an average rating of "Moderate Buy" from the thirteen ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $22.9091.

Several brokerages have recently commented on OMDA. Wells Fargo & Company upped their price objective on shares of Omada Health from $17.00 to $18.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Canaccord Genuity Group set a $24.00 price target on Omada Health in a research note on Friday, May 8th. The Goldman Sachs Group restated a "buy" rating on shares of Omada Health in a research report on Friday, May 8th. Weiss Ratings raised Omada Health from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, June 26th. Finally, Morgan Stanley reissued an "overweight" rating and set a $30.00 target price on shares of Omada Health in a research note on Monday, June 22nd.

Omada Health Stock Down 1.1%

Shares of Omada Health stock traded down $0.27 during trading hours on Friday, reaching $23.28. 733,822 shares of the company's stock were exchanged, compared to its average volume of 1,074,948. Omada Health has a 1 year low of $10.28 and a 1 year high of $26.92. The company has a market capitalization of $1.38 billion and a P/E ratio of -86.22. The business has a fifty day moving average of $18.19 and a two-hundred day moving average of $15.39.

Omada Health (NASDAQ:OMDA - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%.The business had revenue of $78.05 million for the quarter. As a group, research analysts predict that Omada Health will post -0.01 EPS for the current year.

Insider Activity at Omada Health

In other news, CAO Craig Gracey sold 6,894 shares of Omada Health stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.42, for a total value of $120,093.48. Following the completion of the transaction, the chief accounting officer owned 9,191 shares in the company, valued at approximately $160,107.22. This trade represents a 42.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven L. Cook sold 33,000 shares of Omada Health stock in a transaction on 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 directly owned 133,359 shares of the company's stock, valued at approximately $2,652,510.51. This trade represents a 19.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 193,462 shares of company stock worth $3,927,425. Company insiders own 6.38% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Omada Health in the 4th quarter valued at $29,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Omada Health in the 4th quarter worth $32,000. Raymond James Financial Inc. purchased a new stake in shares of Omada Health in the second quarter valued at about $32,000. Inlight Wealth Management LLC acquired a new position in shares of Omada Health during the fourth quarter worth about $45,000. Finally, Versant Capital Management Inc increased its stake 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 acquiring an additional 2,283 shares during the period.

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.