Omada Health (NASDAQ:OMDA) CFO Sells 23,263 Shares of Stock

Key Points

• Omada Health CFO Steven Cook sold 23,263 shares on July 1 at an average price of $22.76, totaling about $529,466. After the sale, he still owned 187,209 shares, a decrease of 11.05% in his stake.
• Omada Health recently beat earnings expectations, reporting a quarterly loss of $0.05 per share versus the $0.08 loss analysts expected, on revenue of $78.05 million. Analysts now forecast a near-breakeven year with expected EPS of -$0.01.
• Wall Street sentiment remains positive overall, with 10 Buy ratings, 2 Hold ratings, and 1 Sell rating. The stock’s consensus target price is $22.91, close to its recent trading level around $22.98.

Omada Health, Inc. (NASDAQ:OMDA - Get Free Report) CFO Steven Cook sold 23,263 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $22.76, for a total transaction of $529,465.88. Following the completion of the transaction, the chief financial officer owned 187,209 shares of the company's stock, valued at approximately $4,260,876.84. The trade was a 11.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Omada Health Stock Performance

OMDA stock traded down $0.02 during midday trading on Wednesday, hitting $22.98. The company's stock had a trading volume of 1,251,953 shares, compared to its average volume of 1,096,319. The firm's 50-day moving average is $17.83 and its 200-day moving average is $15.27. Omada Health, Inc. has a 12 month low of $10.28 and a 12 month 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) earnings per share 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 firm had revenue of $78.05 million during the quarter. As a group, research analysts forecast that Omada Health, Inc. will post -0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Omada Health

A number of hedge funds have recently modified their holdings of the business. Quarry LP purchased a new position in Omada Health during the fourth quarter valued at $29,000. TD Waterhouse Canada Inc. purchased a new stake in Omada Health in the fourth quarter worth about $32,000. Raymond James Financial Inc. bought a new position in shares of Omada Health in the second quarter worth about $32,000. Inlight Wealth Management LLC bought a new position in shares of Omada Health during the 4th quarter valued at approximately $45,000. Finally, Versant Capital Management Inc raised its stake in Omada Health by 319.3% during the 2nd 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.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on OMDA. Morgan Stanley reaffirmed an "overweight" rating and set a $30.00 price target on shares of Omada Health in a report on Monday, June 22nd. Evercore restated an "outperform" rating and set a $20.00 price objective on shares of Omada Health in a research report on Friday, May 8th. Citigroup restated an "outperform" rating on shares of Omada Health in a report on Friday, May 8th. Citizens Jmp boosted their target price on shares of Omada Health from $18.00 to $21.00 and gave the company a "market outperform" rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company raised their price target on Omada Health from $17.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Omada Health currently has an average rating of "Moderate Buy" and a consensus target price of $22.91.

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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