Omada Health (NASDAQ:OMDA) Price Target Raised to $28.00 at Canaccord Genuity Group

Omada Health (NASDAQ:OMDA) had its price objective lifted by Canaccord Genuity Group from $24.00 to $28.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 17.20% from the company’s previous close.

Several other equities research analysts have also recently commented on OMDA. Citigroup reissued an “outperform” rating on shares of Omada Health in a report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Omada Health in a research note on Friday, May 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. Weiss Ratings downgraded Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, July 13th. Finally, Wells Fargo & Company raised their target price on Omada Health from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Eleven analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.33.

Omada Health Stock Up 0.8%

Shares of OMDA opened at $23.89 on Tuesday. The firm has a 50-day moving average price of $19.19 and a 200 day moving average price of $15.72. The firm has a market capitalization of $1.42 billion and a PE ratio of -88.48. Omada Health has a 52-week low of $10.28 and a 52-week high of $26.92.

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

Insider Buying and Selling

In other Omada Health news, CAO Craig Gracey sold 6,894 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $17.42, for a total transaction of $120,093.48. Following the sale, the chief accounting officer owned 9,191 shares in the company, valued at approximately $160,107.22. The trade was a 42.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven L. Cook sold 33,000 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $19.89, for a total transaction of $656,370.00. Following the sale, the chief financial officer directly owned 133,359 shares of the company’s stock, valued at $2,652,510.51. This represents a 19.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 193,462 shares of company stock valued at $3,927,425. 6.38% of the stock is owned by corporate insiders.

Institutional Trading of Omada Health

Large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Omada Health during the fourth quarter valued at $29,000. TD Waterhouse Canada Inc. acquired a new stake in Omada Health during the 4th quarter worth about $32,000. Raymond James Financial Inc. purchased a new position in Omada Health during the 2nd quarter valued at about $32,000. Inlight Wealth Management LLC acquired a new position in shares of Omada Health in the 4th quarter valued at about $45,000. Finally, Versant Capital Management Inc increased its holdings in shares of Omada Health by 319.3% in the 2nd quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock valued at $66,000 after purchasing an additional 2,283 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.