Omada Health (NASDAQ:OMDA) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Omada Health (NASDAQ:OMDA) from a buy rating to a hold rating in a research note published on Saturday.

Other analysts have also recently issued research reports about the stock. Citizens Jmp upped their price objective on shares of Omada Health from $18.00 to $21.00 and gave the company a “market outperform” rating in a research note on Friday, May 8th. Evercore reaffirmed an “outperform” rating and set a $20.00 price target on shares of Omada Health in a research report on Friday, May 8th. Barclays upped their price objective on Omada Health from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Weiss Ratings lowered Omada Health from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, July 13th. Finally, Wells Fargo & Company raised their target price 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. Eleven 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Omada Health Stock Up 0.8%

Shares of NASDAQ OMDA opened at $23.89 on Friday. The firm has a market cap of $1.42 billion and a price-to-earnings ratio of -88.48. The company’s 50-day simple moving average is $19.19 and its 200-day simple moving average is $15.72. 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) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. Omada Health had a negative net margin of 2.22% and a negative return on equity of 1.82%. The firm had revenue of $78.05 million during the quarter. Equities research analysts anticipate that Omada Health will post -0.01 EPS for the current fiscal year.

Insider Activity

In other news, CAO Craig Gracey sold 2,083 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $21.00, for a total value of $43,743.00. Following the transaction, the chief accounting officer directly owned 858 shares in the company, valued at approximately $18,018. This represents a 70.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven L. Cook sold 12,337 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $23.09, for a total transaction of $284,861.33. Following the transaction, the chief financial officer directly owned 187,209 shares of the company’s stock, valued at $4,322,655.81. The trade was a 6.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 193,462 shares of company stock valued at $3,927,425. Company insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Omada Health

A number of institutional investors have recently modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Omada Health during the 4th quarter valued at about $1,222,000. a16z Perennial Management L.P. purchased a new stake in Omada Health during the fourth quarter worth about $2,480,000. Madryn Asset Management LP acquired a new stake in shares of Omada Health during the fourth quarter worth about $9,212,000. Parallel Advisors LLC lifted its position in shares of Omada Health by 12,235.9% during the fourth quarter. Parallel Advisors LLC now owns 123,359 shares of the company’s stock worth $1,947,000 after purchasing an additional 122,359 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new position in shares of Omada Health in the fourth quarter valued at approximately $717,000.

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.