Omada Health (NASDAQ:OMDA) Cut to Hold at Wall Street Zen

Key Points

• Omada Health was downgraded by Wall Street Zen from buy to hold, though other analysts remain more constructive overall.
• The stock currently has a Moderate Buy consensus rating, with an average price target of $23.50 after several firms recently raised their targets.
• Omada Health beat its latest quarterly EPS estimate, reporting ($0.05) per share versus expectations for ($0.08), on revenue of $78.05 million.

Omada Health (NASDAQ:OMDA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Other research analysts have also recently issued research reports about the stock. Citizens Jmp upped their price target on shares of Omada Health from $18.00 to $21.00 and gave the stock a "market outperform" rating in a report on Friday, May 8th. Evercore reissued an "outperform" rating and set a $20.00 price objective on shares of Omada Health in a research note on Friday, May 8th. Barclays upped their target price on Omada Health from $18.00 to $20.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. Canaccord Genuity Group set a $24.00 price target on Omada Health in a report on Friday, May 8th. Finally, BTIG Research initiated coverage on Omada Health in a research report on Friday. They set a "buy" rating and a $30.00 price target for the company. 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. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $23.50.

Omada Health Price Performance

Omada Health stock opened at $23.70 on Friday. Omada Health has a one year low of $10.28 and a one year high of $26.92. The firm has a market capitalization of $1.41 billion and a P/E ratio of -87.78. The business has a fifty day moving average price of $19.01 and a 200-day moving average price of $15.66.

Omada Health (NASDAQ:OMDA - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.03. The firm had revenue of $78.05 million for the quarter. Omada Health had a negative net margin of 2.22% and a negative return on equity of 1.82%. Sell-side analysts expect that Omada Health will post -0.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Craig Gracey sold 6,894 shares of the company's 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 directly owned 9,191 shares in the company, valued at approximately $160,107.22. This represents a 42.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven L. Cook sold 33,000 shares of the company's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $19.89, for a total value of $656,370.00. Following the completion of the transaction, the chief financial officer owned 133,359 shares of the company's stock, valued at $2,652,510.51. The trade was a 19.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 193,462 shares of company stock worth $3,927,425. Corporate insiders own 6.38% of the company's stock.

Institutional Trading of Omada Health

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC bought a new position in Omada Health during the second quarter valued at approximately $637,000. Walleye Capital LLC purchased a new stake in shares of Omada Health in the 2nd quarter valued at $458,000. Ilex Capital Partners UK LLP bought a new position in shares of Omada Health during the 2nd quarter valued at $201,000. Soros Fund Management LLC purchased a new position in Omada Health in the 2nd quarter worth $640,000. Finally, Raymond James Financial Inc. bought a new stake in Omada Health in the second quarter worth $32,000.

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.

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.