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

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.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Baird R W raised Omada Health to a "hold" rating in a research note on Friday, September 5th. The Goldman Sachs Group began coverage on Omada Health in a research note on Tuesday, July 1st. They set a "buy" rating and a $29.00 price target on the stock. Needham & Company LLC raised their price objective on Omada Health from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Morgan Stanley initiated coverage on Omada Health in a research report on Tuesday, July 1st. They set an "overweight" rating and a $25.00 price objective for the company. Finally, Evercore ISI lifted their target price on Omada Health from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Omada Health has a consensus rating of "Moderate Buy" and an average target price of $24.50.

Omada Health Price Performance

The firm's fifty day moving average is $20.18.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in shares of Omada Health during the second quarter valued at approximately $32,000. Ilex Capital Partners UK LLP purchased a new position in shares of Omada Health during the second quarter valued at approximately $201,000. Sandia Investment Management LP purchased a new position in shares of Omada Health during the second quarter valued at approximately $366,000. XTX Topco Ltd purchased a new position in shares of Omada Health during the second quarter valued at approximately $414,000. Finally, Walleye Capital LLC purchased a new position in shares of Omada Health during the second quarter valued at approximately $458,000.

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.