Omada Health (NASDAQ:OMDA) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo raised its price target on Omada from $17 to $18 (implying ~11.4% upside); the stock has a consensus rating of "Moderate Buy" with an average analyst target of $21.73 (10 Buys, 2 Holds, 1 Sell).
• Recent performance and flows: shares opened at $16.16 after Omada beat Q1 EPS estimates (‑$0.05 vs. ‑$0.08) on $78.05M revenue, the company trades at about a $960M market cap, insiders sold modestly last quarter while large hedge funds (e.g., Perceptive, Millennium) added sizeable stakes.

Omada Health (NASDAQ:OMDA - Get Free Report) had its price target raised by research analysts at Wells Fargo & Company from $17.00 to $18.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's price target indicates a potential upside of 11.37% from the stock's previous close.

Several other analysts have also issued reports on OMDA. Morgan Stanley reduced their target price on Omada Health from $32.00 to $30.00 and set an "overweight" rating on the stock in a report on Friday, March 6th. Citigroup reaffirmed an "outperform" rating on shares of Omada Health in a report on Friday. Evercore restated an "outperform" rating and set a $15.00 price objective on shares of Omada Health in a research report on Wednesday, April 8th. JPMorgan Chase & Co. reduced their price target on Omada Health from $32.00 to $26.00 and set an "overweight" rating on the stock in a report on Thursday, March 12th. Finally, Citizens Jmp initiated coverage on shares of Omada Health in a report on Tuesday, April 14th. They set an "outperform" rating and a $18.00 price target for the company. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.73.

Omada Health Trading Up 1.9%

Shares of OMDA opened at $16.16 on Friday. The stock's 50 day moving average is $13.55 and its two-hundred day moving average is $15.85. The firm has a market capitalization of $960.35 million and a PE ratio of -95.07. Omada Health has a twelve month low of $10.28 and a twelve month high of $28.40.

Omada Health (NASDAQ:OMDA - Get Free Report) last announced its quarterly earnings results 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. On average, sell-side analysts predict that Omada Health will post -0.04 EPS for the current year.

Insider Transactions at Omada Health

In related news, CFO Steven L. Cook sold 1,884 shares of Omada Health stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $13.94, for a total value of $26,262.96. Following the completion of the sale, the chief financial officer owned 200,512 shares of the company's stock, valued at approximately $2,795,137.28. This trade represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sean P. Duffy sold 4,063 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $14.34, for a total transaction of $58,263.42. Following the transaction, the chief executive officer owned 117,598 shares of the company's stock, valued at $1,686,355.32. This represents a 3.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 8,776 shares of company stock worth $120,483 in the last quarter.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Perceptive Advisors LLC purchased a new stake in shares of Omada Health during the second quarter worth $44,402,000. Millennium Management LLC increased its position in shares of Omada Health by 1,195.0% in the fourth quarter. Millennium Management LLC now owns 2,272,168 shares of the company's stock worth $35,855,000 after purchasing an additional 2,096,705 shares during the last quarter. Divisadero Street Capital Management LP purchased a new position in Omada Health in the third quarter worth $30,510,000. Jefferies Financial Group Inc. purchased a new stake in Omada Health in the fourth quarter worth approximately $16,948,000. Finally, SG Americas Securities LLC purchased a new stake in Omada Health in the 1st quarter worth approximately $10,401,000.

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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