Brokerages Set Omada Health, Inc. (NASDAQ:OMDA) Target Price at $22.91

Omada Health, Inc. (NASDAQ:OMDA) has received a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $22.9091.

Several brokerages recently weighed in on OMDA. Wall Street Zen lowered Omada Health from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price objective on shares of Omada Health in a research note on Friday, May 8th. Wells Fargo & Company boosted their price objective on Omada Health from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Canaccord Genuity Group set a $24.00 price objective on Omada Health in a research note on Friday, May 8th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Omada Health in a research note on Friday, May 8th.

Insider Transactions at Omada Health

In other news, CAO Craig Gracey sold 6,894 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $160,107.22. This represents a 42.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven L. Cook sold 6,800 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $17.23, for a total value of $117,164.00. Following the completion of the transaction, the chief financial officer directly owned 187,209 shares in the company, valued at $3,225,611.07. This trade represents a 3.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 36,072 shares of company stock worth $612,034 in the last ninety days. 6.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in OMDA. BIT Capital GmbH purchased a new position in Omada Health in the third quarter valued at about $13,639,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Omada Health in the fourth quarter valued at about $1,222,000. Divisadero Street Capital Management LP acquired a new stake in shares of Omada Health in the third quarter valued at approximately $30,510,000. a16z Perennial Management L.P. acquired a new stake in shares of Omada Health in the fourth quarter valued at approximately $2,480,000. Finally, Madryn Asset Management LP acquired a new stake in Omada Health during the fourth quarter worth approximately $9,212,000.

Omada Health Stock Up 1.9%

Shares of Omada Health stock opened at $17.98 on Tuesday. Omada Health has a twelve month low of $10.28 and a twelve month high of $26.92. The business has a 50-day moving average price of $15.96 and a 200 day moving average price of $14.77. The firm has a market cap of $1.07 billion and a PE ratio of -66.59.

Omada Health (NASDAQ:OMDA) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $78.05 million during the quarter. On average, sell-side analysts expect that Omada Health will post -0.01 EPS for the current year.

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.