Omada Health (NASDAQ:OMDA) Price Target Cut to $19.00 by Analysts at Wells Fargo & Company

Omada Health (NASDAQ:OMDA) had its target price reduced by investment analysts at Wells Fargo & Company from $22.00 to $19.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 20.61% from the stock’s current price.

A number of other research firms have also recently weighed in on OMDA. Zacks Research cut shares of Omada Health from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Wall Street Zen raised shares of Omada Health from a “hold” rating to a “buy” rating in a research note on Sunday, October 11th. Citizens Jmp increased their target price on shares of Omada Health from $27.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Friday, August 14th. Robert W. Baird increased their price target on Omada Health from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. Finally, Barclays dropped their price objective on Omada Health from $27.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, October 28th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.50.

Omada Health Price Performance

Shares of NASDAQ OMDA opened at $15.75 on Friday. The stock has a market capitalization of $964.40 million, a price-to-earnings ratio of 321.34 and a beta of 2.13. The firm’s 50 day simple moving average is $20.33 and its 200-day simple moving average is $17.74. Omada Health has a 12 month low of $10.28 and a 12 month high of $25.45.

Omada Health (NASDAQ:OMDA) last posted its earnings results on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. The firm had revenue of $91.31 million during the quarter. Analysts anticipate that Omada Health will post 0.09 earnings per share for the current fiscal year.

Insider Activity at Omada Health

In other Omada Health news, President Wei-Li Shao sold 8,866 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $25.02, for a total transaction of $221,827.32. Following the completion of the sale, the president directly owned 307,372 shares in the company, valued at approximately $7,690,447.44. The trade was a 2.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sean P. Duffy sold 21,572 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $23.62, for a total value of $509,530.64. Following the transaction, the chief executive officer directly owned 411,861 shares of the company’s stock, valued at $9,728,156.82. The trade was a 4.98% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 106,070 shares of company stock valued at $2,462,621. 6.38% of the stock is owned by corporate insiders.

Institutional Trading of Omada Health

Large investors have recently made changes to their positions in the company. Sterling Capital Management LLC raised its stake in Omada Health by 1,161.6% in the 3rd quarter. Sterling Capital Management LLC now owns 1,577 shares of the company’s stock valued at $33,000 after purchasing an additional 1,452 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Omada Health in the 2nd quarter valued at $53,000. State of Alaska Department of Revenue purchased a new position in Omada Health in the 3rd quarter valued at $59,000. Versant Capital Management Inc boosted its stake in Omada Health by 319.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock worth $66,000 after purchasing an additional 2,283 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in Omada Health during the 2nd quarter worth $76,000.

Omada Health Company Profile

Omada Health, Inc (NASDAQ: OMDA) is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines personalized health coaching, clinical support, behavioral-change tools and connected devices to help members monitor and improve their health.

The company’s offerings focus primarily on cardiometabolic conditions, including diabetes, prediabetes, hypertension and obesity, as well as musculoskeletal conditions. Depending on the program, members may receive access to digital lessons, health tracking, remote monitoring, care teams and clinical guidance through Omada’s technology platform.

Omada Health was founded in 2011 and serves employers, health plans and other healthcare organizations in the United States.