Omada Health (NASDAQ:OMDA) Stock Price Down 5.9% - What's Next?

Key Points

• Omada Health's stock price fell by 5.9% to $22.11, with trading volume at approximately 267,460 shares, significantly lower than its average of 628,138 shares.
• Several analysts have raised their ratings and price targets for Omada Health, with the consensus rating currently at "Moderate Buy" and an average price target of $24.50.
• In the most recent earnings report, Omada Health reported an EPS of ($0.22), missing expectations, but revenue was stronger at $61.37 million, exceeding analyst estimates.

Shares of Omada Health, Inc. (NASDAQ:OMDA - Get Free Report) dropped 5.9% during trading on Wednesday . The stock traded as low as $22.11 and last traded at $22.11. Approximately 267,460 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 628,138 shares. The stock had previously closed at $23.50.

Analyst Upgrades and Downgrades

OMDA has been the topic of several recent research reports. Canaccord Genuity Group upped their price objective on shares of Omada Health from $27.00 to $28.00 and gave the company a "buy" rating in a report on Friday, August 8th. Wall Street Zen raised shares of Omada Health to a "hold" rating in a report on Monday, June 16th. Robert W. Baird started coverage on shares of Omada Health in a report on Friday, September 5th. They set a "neutral" rating and a $24.00 price target on the stock. Needham & Company LLC increased their price target on shares of Omada Health from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. started coverage on shares of Omada Health in a report on Tuesday, July 1st. They set an "overweight" rating and a $19.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Omada Health currently has a consensus rating of "Moderate Buy" and an average price target of $24.50.

Omada Health Stock Performance

The business's fifty day simple moving average is $19.90.

Omada Health (NASDAQ:OMDA - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.22) EPS for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.07). The firm had revenue of $61.37 million for the quarter, compared to analyst estimates of $55.17 million. Omada Health has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On Omada Health

A number of hedge funds have recently modified their holdings of the business. Perceptive Advisors LLC acquired a new stake in shares of Omada Health in the second quarter valued at about $44,402,000. Loomis Sayles & Co. L P acquired a new stake in shares of Omada Health in the second quarter valued at about $19,948,000. Sanofi acquired a new stake in shares of Omada Health in the second quarter valued at about $9,606,000. Federated Hermes Inc. acquired a new stake in shares of Omada Health in the second quarter valued at about $9,150,000. Finally, Norges Bank acquired a new stake in shares of Omada Health in the second quarter valued at about $5,490,000.

About Omada Health

Omada's mission is to bend the curve. Our hope is that, one day, tomorrow's epidemiologists will notice a bend in disease curves, wonder what might be happening, and conclude that part of that impact has been Omada. As part of that mission, we strive to inspire and enable people to make lasting health changes on their own terms.

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