The Goldman Sachs Group Has Lowered Expectations for Omada Health (NASDAQ:OMDA) Stock Price

Key Points

• Goldman Sachs cut its price target on Omada Health from $26 to $23 but maintained a "buy" rating, consistent with a consensus average target of $23.30 and implying roughly a 94% upside from the current share price.
• Shares traded at $11.83 (50‑day SMA $12.87, 200‑day SMA $17.16) with a market cap of about $697M and a negative P/E of -69.53; the one‑year range is $10.28–$28.40.
• Omada beat the quarter with EPS of $0.08 vs. consensus (‑$0.04) and revenue of $75.85M, while insiders sold 277,222 shares worth about $4.33M over the past three months, including recent CEO and CFO sales.

Omada Health (NASDAQ:OMDA - Get Free Report) had its price target dropped by equities research analysts at The Goldman Sachs Group from $26.00 to $23.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 94.42% from the stock's current price.

OMDA has been the topic of a number of other reports. Wall Street Zen raised Omada Health from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. BMO Capital Markets reduced their price objective on Omada Health from $27.00 to $18.00 and set an "outperform" rating on the stock in a research note on Friday, March 6th. JPMorgan Chase & Co. reduced their price objective on Omada Health from $32.00 to $26.00 and set an "overweight" rating on the stock in a research note on Thursday, March 12th. Canaccord Genuity Group reduced their price objective on Omada Health from $28.00 to $22.00 and set a "buy" rating on the stock in a research note on Friday, March 6th. Finally, Morgan Stanley reduced their price objective on Omada Health from $32.00 to $30.00 and set an "overweight" rating on the stock in a research note on Friday, March 6th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $23.30.

Omada Health Price Performance

NASDAQ OMDA traded down $0.70 during trading hours on Thursday, reaching $11.83. 261,619 shares of the stock traded hands, compared to its average volume of 1,319,846. The stock has a 50 day simple moving average of $12.87 and a two-hundred day simple moving average of $17.16. Omada Health has a 1 year low of $10.28 and a 1 year high of $28.40. The company has a market cap of $697.02 million and a price-to-earnings ratio of -69.53.

Omada Health (NASDAQ:OMDA - Get Free Report) last released its quarterly earnings results on Thursday, March 5th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.12. The firm had revenue of $75.85 million for the quarter.

Insider Buying and Selling

In other news, CEO Sean P. Duffy sold 4,063 shares of the business's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $14.34, for a total value of $58,263.42. Following the sale, the chief executive officer directly owned 117,598 shares of the company's stock, valued at $1,686,355.32. The trade was a 3.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Steven L. Cook sold 1,884 shares of the business's stock in a transaction that occurred on 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 directly owned 200,512 shares in the company, valued at approximately $2,795,137.28. This represents a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 277,222 shares of company stock worth $4,330,695.

Institutional Investors Weigh In On Omada Health

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio bought a new position in Omada Health in the 3rd quarter worth $38,000. Raymond James Financial Inc. bought a new position in Omada Health in the 2nd quarter worth $32,000. Bellevue Group AG boosted its holdings in Omada Health by 0.7% in the 3rd quarter. Bellevue Group AG now owns 251,791 shares of the company's stock worth $5,567,000 after buying an additional 1,791 shares during the period. Quarry LP bought a new position in Omada Health in the 4th quarter worth $29,000. Finally, Barclays PLC boosted its holdings in Omada Health by 14.6% in the 4th quarter. Barclays PLC now owns 14,850 shares of the company's stock worth $234,000 after buying an additional 1,888 shares during the period.

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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