Omada Health (NASDAQ:OMDA) Given New $27.00 Price Target at Citizens Jmp

Key Points

• Citizens JMP raised its price target on Omada Health from $21 to $27 and kept a market outperform rating, implying about 13.8% upside from the prior close.
• Other analysts remain broadly positive: Morgan Stanley set a $30 target, Barclays lifted its target to $20, and the overall consensus rating is Moderate Buy with an average price target of $24.
• Omada Health last reported quarterly EPS of -$0.05, beating estimates, while shares recently traded around $23.73; insiders also sold stock in recent weeks, including CFO Steven L. Cook.

Omada Health (NASDAQ:OMDA - Get Free Report) had its price objective boosted by investment analysts at Citizens Jmp from $21.00 to $27.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. Citizens Jmp's target price indicates a potential upside of 13.79% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. Morgan Stanley reissued an "overweight" rating and issued a $30.00 price target on shares of Omada Health in a research note on Monday, June 22nd. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Omada Health in a research report on Friday, May 8th. Citigroup reissued an "outperform" rating on shares of Omada Health in a research note on Monday. Barclays upped their price target on Omada Health from $18.00 to $20.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Omada Health from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, July 13th. Eleven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $24.00.

Omada Health Trading Up 0.1%

Shares of NASDAQ:OMDA traded up $0.03 during trading on Monday, reaching $23.73. The company had a trading volume of 37,831 shares, compared to its average volume of 1,206,836. Omada Health has a 12 month low of $10.28 and a 12 month high of $26.92. The stock has a market capitalization of $1.41 billion and a P/E ratio of -87.43. The company has a fifty day moving average of $19.01 and a two-hundred day moving average of $15.66.

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

Insiders Place Their Bets

In other news, CFO Steven L. Cook sold 33,000 shares of the stock in a transaction that occurred 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 in the company, valued at $2,652,510.51. This represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Craig Gracey sold 6,894 shares of the 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 sale, the chief accounting officer owned 9,191 shares of the company's stock, valued at $160,107.22. This represents a 42.86% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 193,462 shares of company stock worth $3,927,425. Company insiders own 6.38% of the company's stock.

Institutional Investors Weigh In On Omada Health

Several institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Omada Health during the second quarter valued at approximately $32,000. Bellevue Group AG lifted its position in Omada Health by 0.7% during the 3rd quarter. Bellevue Group AG now owns 251,791 shares of the company's stock worth $5,567,000 after acquiring an additional 1,791 shares during the last quarter. Quarry LP bought a new position in Omada Health in the 4th quarter valued at $29,000. Barclays PLC increased its position in shares of Omada Health by 14.6% during the fourth quarter. Barclays PLC now owns 14,850 shares of the company's stock worth $234,000 after acquiring an additional 1,888 shares in the last quarter. Finally, TD Waterhouse Canada Inc. acquired a new position in shares of Omada Health in the fourth quarter valued at approximately $32,000.

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.

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