Omada Health (NASDAQ:OMDA) Given New $25.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised Omada Health’s price target from $15 to $25 while maintaining a neutral rating, implying roughly 4.1% upside from the prior close.
• Analyst sentiment remains broadly positive, with 11 Buy ratings, two Holds and one Sell; the consensus rating is “Moderate Buy” with an average target of $25.75.
• Omada Health exceeded quarterly expectations, reporting $0.08 in adjusted EPS versus a projected loss of $0.02 and revenue of $87.83 million versus $80.93 million expected. However, company insiders sold 227,976 shares worth approximately $4.7 million during the last quarter.

Omada Health (NASDAQ:OMDA - Get Free Report) had its target price raised by stock analysts at Robert W. Baird from $15.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Robert W. Baird's price objective would suggest a potential upside of 4.12% from the stock's previous close.

OMDA has been the topic of a number of other research reports. Wall Street Zen upgraded shares of Omada Health from a "hold" rating to a "buy" rating in a report on Saturday. Needham & Company LLC reiterated a "buy" rating and issued a $28.00 price target on shares of Omada Health in a report on Friday, May 8th. Evercore reaffirmed an "outperform" rating and issued a $20.00 target price on shares of Omada Health in a research report on Friday, May 8th. BTIG Research boosted their price target on Omada Health from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Citigroup reaffirmed an "outperform" rating on shares of Omada Health in a report on Monday, July 20th. Eleven 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. Based on data from MarketBeat, Omada Health currently has an average rating of "Moderate Buy" and an average target price of $25.75.

Omada Health Stock Performance

OMDA stock opened at $24.01 on Wednesday. The company has a 50 day moving average price of $20.61 and a two-hundred day moving average price of $16.32. The stock has a market capitalization of $1.47 billion, a P/E ratio of 480.20 and a beta of 1.73. Omada Health has a one year low of $10.28 and a one year high of $26.92.

Omada Health (NASDAQ:OMDA - Get Free Report) last posted its quarterly earnings data 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 return on equity of 2.67% and a net margin of 1.39%.The business had revenue of $87.83 million for the quarter, compared to analysts' expectations of $80.93 million. Research analysts forecast that Omada Health will post -0.01 earnings per share for the current fiscal year.

Insider Activity at Omada Health

In related news, CEO Sean P. Duffy sold 25,886 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total transaction of $587,094.48. Following the sale, the chief executive officer directly owned 411,861 shares of the company's stock, valued at approximately $9,341,007.48. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven L. Cook sold 33,000 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 133,359 shares of the company's stock, valued at approximately $2,652,510.51. The trade was a 19.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 227,976 shares of company stock valued at $4,701,095. Insiders own 6.38% of the company's stock.

Hedge Funds Weigh In On Omada Health

Hedge funds and other institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC bought a new position in Omada Health in the 2nd quarter worth about $44,402,000. BlackRock Inc. acquired a new stake in Omada Health in the 2nd quarter valued at approximately $48,775,000. Millennium Management LLC boosted its position in Omada Health by 1,195.0% during the 4th quarter. Millennium Management LLC now owns 2,272,168 shares of the company's stock worth $35,855,000 after acquiring an additional 2,096,705 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Omada Health during the fourth quarter valued at $16,948,000. Finally, SG Americas Securities LLC acquired a new stake in Omada Health in the first quarter worth about $10,401,000.

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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