Omada Health, Inc. (NASDAQ:OMDA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Omada Health, Inc. (NASDAQ:OMDA) have been given an average rating of “Moderate Buy” by the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $23.60.

Several analysts have issued reports on OMDA shares. The Goldman Sachs Group reissued a “buy” rating and set a $26.00 target price on shares of Omada Health in a research note on Friday, January 16th. Wall Street Zen raised shares of Omada Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Barclays dropped their price target on shares of Omada Health from $22.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Wells Fargo & Company started coverage on shares of Omada Health in a research note on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 price target on the stock. Finally, BMO Capital Markets dropped their price target on shares of Omada Health from $27.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, March 6th.

Omada Health Price Performance

Shares of NASDAQ:OMDA opened at $12.58 on Thursday. The company’s fifty day moving average is $13.00 and its two-hundred day moving average is $17.26. Omada Health has a 12-month low of $10.28 and a 12-month high of $28.40. The company has a market cap of $741.28 million and a P/E ratio of -74.00.

Omada Health (NASDAQ:OMDA) last announced its earnings results on Thursday, March 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.12. The firm had revenue of $75.85 million for the quarter.

Insiders Place Their Bets

In other news, CEO Sean P. Duffy sold 230,479 shares of the company’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $15.60, for a total value of $3,595,472.40. Following the transaction, the chief executive officer directly owned 126,644 shares of the company’s stock, valued at approximately $1,975,646.40. This represents a 64.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Steven L. Cook sold 1,884 shares of the company’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $13.94, for a total transaction of $26,262.96. Following the completion of the transaction, the chief financial officer directly owned 200,512 shares in the company, valued at $2,795,137.28. This trade represents a 0.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 277,222 shares of company stock worth $4,330,695 over the last ninety days.

Institutional Investors Weigh In On Omada Health

A number of large investors have recently bought and sold shares of OMDA. Cigna Investments Inc. New bought a new stake in Omada Health in the third quarter worth $76,161,000. Perceptive Advisors LLC bought a new stake in Omada Health in the second quarter worth $44,402,000. Millennium Management LLC boosted its holdings in 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 in the last quarter. Divisadero Street Capital Management LP bought a new stake in Omada Health in the third quarter worth $30,510,000. Finally, Jefferies Financial Group Inc. bought a new stake in Omada Health in the fourth quarter worth $16,948,000.

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.