Needham & Company LLC Reaffirms “Buy” Rating for Omada Health (NASDAQ:OMDA)

Omada Health (NASDAQ:OMDA)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They presently have a $28.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 79.14% from the company’s current price.

OMDA has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Omada Health in a research note on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $26.00 price target on shares of Omada Health in a research report on Friday, January 16th. BMO Capital Markets initiated coverage on Omada Health in a report on Thursday, November 13th. They set an “outperform” rating and a $27.00 price target for the company. Evercore ISI increased their price target on Omada Health from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Friday, November 7th. Finally, Wells Fargo & Company started coverage on shares of Omada Health in a research report on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 target price on the stock. Eight research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.10.

Omada Health Stock Down 0.7%

Shares of NASDAQ:OMDA opened at $15.63 on Thursday. The business has a 50 day moving average price of $16.55 and a 200 day moving average price of $19.92. The company has a market cap of $905.13 million and a price-to-earnings ratio of -62.52. Omada Health has a twelve month low of $14.14 and a twelve month high of $28.40.

Insider Buying and Selling

In other news, CEO Sean P. Duffy sold 230,479 shares of the 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 owned 126,644 shares of the company’s stock, valued at $1,975,646.40. This represents a 64.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Wei-Li Shao sold 5,618 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $16.13, for a total transaction of $90,618.34. Following the completion of the sale, the president owned 69,079 shares of the company’s stock, valued at approximately $1,114,244.27. The trade was a 7.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 276,893 shares of company stock valued at $4,336,787 over the last 90 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sanofi purchased a new position in Omada Health in the 2nd quarter worth approximately $9,606,000. Teacher Retirement System of Texas purchased a new stake in Omada Health in the 2nd quarter worth about $640,000. Jennison Associates LLC bought a new stake in shares of Omada Health during the second quarter valued at approximately $4,580,000. Emerald Advisers LLC bought a new stake in Omada Health during the 2nd quarter valued at $5,089,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Omada Health during the second quarter valued at approximately $2,950,000.

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.