Omada Health (NASDAQ:OMDA) Rating Increased to Strong-Buy at BTIG Research

Key Points

• BTIG Research upgraded Omada Health to “strong-buy”, adding to a generally positive analyst backdrop. MarketBeat says the stock now carries a consensus rating of Moderate Buy with an average price target of $23.50.
• Analyst sentiment remains mixed but mostly bullish: several firms recently reiterated or raised targets, while a few downgraded the stock. Current coverage includes 1 Strong Buy, 10 Buy, 2 Hold, and 1 Sell ratings.
• Omada Health reported better-than-expected quarterly earnings, posting EPS of -$0.05 versus estimates of -$0.08 on revenue of $78.05 million. The company also saw notable insider selling recently, including sales by the CAO and CEO.

Omada Health (NASDAQ:OMDA - Get Free Report) was upgraded by equities researchers at BTIG Research to a "strong-buy" rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other research analysts have also issued reports on OMDA. Weiss Ratings lowered shares of Omada Health from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday. Barclays raised 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. Needham & Company LLC reaffirmed a "buy" rating and set a $28.00 price target on shares of Omada Health in a research note on Friday, May 8th. Citizens Jmp upped their price objective on Omada Health from $18.00 to $21.00 and gave the stock a "market outperform" rating in a report on Friday, May 8th. Finally, Wall Street Zen lowered Omada Health from a "buy" rating to a "hold" rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $23.50.

Omada Health Price Performance

Shares of OMDA opened at $23.70 on Friday. Omada Health has a 1-year low of $10.28 and a 1-year high of $26.92. The company has a market capitalization of $1.41 billion and a P/E ratio of -87.78. The firm's 50 day simple moving average is $19.01 and its 200 day simple moving average is $15.66.

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

Insider Buying and Selling

In other Omada Health news, CAO Craig Gracey sold 6,894 shares of Omada Health stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $17.42, for a total value of $120,093.48. Following the transaction, the chief accounting officer directly owned 9,191 shares of the company's stock, valued at $160,107.22. The trade was a 42.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sean P. Duffy sold 25,886 shares of the company's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total transaction of $587,094.48. Following the sale, the chief executive officer owned 411,861 shares of the company's stock, valued at $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 193,462 shares of company stock worth $3,927,425 in the last ninety days. 6.38% of the stock is owned by insiders.

Institutional Trading of Omada Health

Several large investors have recently modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Omada Health during the 4th quarter valued at $1,222,000. a16z Perennial Management L.P. purchased a new stake in shares of Omada Health in the 4th quarter worth about $2,480,000. Madryn Asset Management LP purchased a new stake in shares of Omada Health in the 4th quarter worth about $9,212,000. Parallel Advisors LLC boosted its stake in shares of Omada Health by 12,235.9% during the 4th quarter. Parallel Advisors LLC now owns 123,359 shares of the company's stock valued at $1,947,000 after purchasing an additional 122,359 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new position in shares of Omada Health during the fourth quarter valued at about $717,000.

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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