Wall Street Zen Downgrades Omada Health (NASDAQ:OMDA) to Hold

Omada Health (NASDAQ:OMDA) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also weighed in on OMDA. Wells Fargo & Company upped their target price on shares of Omada Health from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Evercore reissued an “outperform” rating and set a $20.00 price target on shares of Omada Health in a research note on Friday, May 8th. Barclays upped their price target on Omada Health from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. BTIG Research initiated coverage on Omada Health in a research note on Friday. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Morgan Stanley reiterated an “overweight” rating and set a $30.00 target price on shares of Omada Health in a research report on Monday, June 22nd. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Omada Health Price Performance

NASDAQ OMDA opened at $23.70 on Friday. The stock has a market capitalization of $1.41 billion and a P/E ratio of -87.78. Omada Health has a 52-week low of $10.28 and a 52-week high of $26.92. The firm has a 50-day moving average price of $19.01 and a 200 day moving average price of $15.66.

Omada Health (NASDAQ:OMDA) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%.The company had revenue of $78.05 million for the quarter. On average, equities research analysts expect that Omada Health will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Omada Health news, CEO Sean P. Duffy sold 25,886 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total value of $587,094.48. Following the sale, the chief executive officer owned 411,861 shares of the company’s stock, valued at $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Craig Gracey sold 6,894 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.42, for a total transaction of $120,093.48. Following the completion of the sale, the chief accounting officer owned 9,191 shares in the company, valued at $160,107.22. This represents a 42.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 193,462 shares of company stock worth $3,927,425. Insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Omada Health

A number of large investors have recently bought and sold shares of OMDA. Versant Capital Management Inc increased its position in Omada Health by 319.3% during the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock worth $66,000 after buying an additional 2,283 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Omada Health by 51.5% in the first quarter. Bank of America Corp DE now owns 161,099 shares of the company’s stock valued at $2,025,000 after acquiring an additional 54,792 shares in the last quarter. Stoic Point Capital Management LLC acquired a new stake in shares of Omada Health during the first quarter valued at $1,830,000. Quantinno Capital Management LP boosted its stake in shares of Omada Health by 464.1% during the first quarter. Quantinno Capital Management LP now owns 58,723 shares of the company’s stock valued at $738,000 after acquiring an additional 48,313 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in Omada Health during the 1st quarter worth about $194,000.

About Omada Health

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.