Omada Health (NASDAQ:OMDA) CFO Sells 12,337 Shares

Key Points

• Omada Health CFO Steven Cook sold 12,337 shares on July 7 at an average price of $23.09, for proceeds of about $284,861. After the sale, he still owned 187,209 shares valued at roughly $4.32 million.
• The stock was slightly lower in Wednesday trading, down 0.1% to $22.98, with volume above its recent average. Omada Health has a market cap of $1.37 billion and has traded between $10.28 and $26.92 over the past year.
• Analysts remain broadly positive, with 10 Buy ratings and a consensus rating of “Moderate Buy.” The average price target is $22.91, while the company’s latest quarterly results beat EPS expectations with a loss of $0.05 per share versus the expected loss of $0.08.

Omada Health, Inc. (NASDAQ:OMDA - Get Free Report) CFO Steven Cook sold 12,337 shares of the company's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $23.09, for a total transaction of $284,861.33. Following the sale, the chief financial officer directly owned 187,209 shares of the company's stock, valued at approximately $4,322,655.81. This represents a 6.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Omada Health Stock Down 0.1%

Shares of Omada Health stock traded down $0.02 on Wednesday, hitting $22.98. 1,251,953 shares of the company were exchanged, compared to its average volume of 1,096,319. The stock has a market capitalization of $1.37 billion and a price-to-earnings ratio of -85.11. The company has a 50-day moving average price of $17.83 and a 200 day moving average price of $15.27. Omada Health, Inc. has a 1-year low of $10.28 and a 1-year high of $26.92.

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, beating 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 firm had revenue of $78.05 million during the quarter. Research analysts forecast that Omada Health, Inc. will post -0.01 EPS for the current year.

Analyst Upgrades and Downgrades

OMDA has been the topic of several analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $28.00 price target on shares of Omada Health in a report on Friday, May 8th. Morgan Stanley restated an "overweight" rating and set a $30.00 price objective on shares of Omada Health in a research report on Monday, June 22nd. The Goldman Sachs Group reiterated a "buy" rating on shares of Omada Health in a report on Friday, May 8th. Wells Fargo & Company upped their price objective on Omada Health from $17.00 to $18.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Finally, Wall Street Zen upgraded Omada Health from a "hold" rating to a "buy" rating in a research report on Saturday, June 27th. Ten equities research 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $22.91.

Hedge Funds Weigh In On Omada Health

A number of hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc grew 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 worth $66,000 after acquiring an additional 2,283 shares in the last quarter. Bank of America Corp DE increased its holdings in Omada Health by 51.5% during the 1st quarter. Bank of America Corp DE now owns 161,099 shares of the company's stock worth $2,025,000 after purchasing an additional 54,792 shares during the period. Stoic Point Capital Management LLC purchased a new position in shares of Omada Health in the 1st quarter valued at about $1,830,000. Quantinno Capital Management LP increased its stake in shares of Omada Health by 464.1% during the first quarter. Quantinno Capital Management LP now owns 58,723 shares of the company's stock worth $738,000 after buying an additional 48,313 shares during the period. Finally, Entropy Technologies LP purchased a new position in Omada Health in the first quarter worth approximately $194,000.

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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