Omada Health (NASDAQ:OMDA) Trading Down 4.7% – Should You Sell?

Shares of Omada Health, Inc. (NASDAQ:OMDA) fell 4.7% on Wednesday . The stock traded as low as $12.80 and last traded at $12.77. 244,611 shares changed hands during trading, a decline of 83% from the average session volume of 1,409,304 shares. The stock had previously closed at $13.40.

Analyst Upgrades and Downgrades

OMDA has been the subject of several research analyst reports. Wells Fargo & Company assumed coverage on Omada Health in a research report on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 price objective for the company. Weiss Ratings reissued a “sell (d)” rating on shares of Omada Health in a research report on Thursday, January 22nd. Morgan Stanley reduced their price objective on Omada Health from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, March 6th. BMO Capital Markets dropped their target price on Omada Health from $27.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, March 6th. Finally, Barclays decreased their price target on shares of Omada Health from $22.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $23.60.

Omada Health Stock Performance

The stock has a market cap of $762.72 million and a price-to-earnings ratio of -76.15. The company has a 50-day simple moving average of $13.62 and a two-hundred day simple moving average of $17.91.

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

Insider Buying and Selling at Omada Health

In other news, CEO Sean P. Duffy sold 4,063 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $14.34, for a total value of $58,263.42. Following the completion of the sale, the chief executive officer directly owned 117,598 shares of the company’s stock, valued at $1,686,355.32. This trade represents a 3.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Wei-Li Shao sold 5,618 shares of Omada Health stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $16.13, for a total value of $90,618.34. Following the transaction, the president owned 69,079 shares of the company’s stock, valued at $1,114,244.27. This represents a 7.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 282,840 shares of company stock worth $4,421,313 over the last 90 days.

Hedge Funds Weigh In On Omada Health

Several large investors have recently modified their holdings of OMDA. XTX Topco Ltd bought a new stake in shares of Omada Health during the 4th quarter worth about $297,000. Utah Retirement Systems bought a new position in Omada Health in the 4th quarter valued at about $1,237,000. VARCOV Co. acquired a new stake in Omada Health during the fourth quarter worth approximately $504,000. Voloridge Investment Management LLC bought a new stake in shares of Omada Health during the fourth quarter worth approximately $2,590,000. Finally, Tudor Investment Corp ET AL grew its position in shares of Omada Health by 373.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 211,416 shares of the company’s stock valued at $3,336,000 after purchasing an additional 166,783 shares during the last quarter.

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.