Omada Health, Inc. (NASDAQ:OMDA) Stock Now Rated “Moderate Buy” by Wall Street Analysts

Shares of Omada Health, Inc. (NASDAQ:OMDA) have earned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $26.67.

OMDA has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Omada Health from a “hold” rating to a “buy” rating in a report on Sunday, October 11th. Barclays boosted their price objective on shares of Omada Health from $25.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, September 11th. JPMorgan Chase & Co. upped their target price on shares of Omada Health from $26.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. BTIG Research reaffirmed a “buy” rating and set a $35.00 target price on shares of Omada Health in a report on Friday, September 11th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $24.00 target price on shares of Omada Health in a research note on Friday, August 7th.

Omada Health Stock Up 2.4%

Shares of NASDAQ OMDA opened at $18.06 on Tuesday. Omada Health has a 52 week low of $10.28 and a 52 week high of $26.92. The business has a 50-day simple moving average of $21.59 and a two-hundred day simple moving average of $19.19. The company has a market cap of $1.11 billion, a P/E ratio of 361.20 and a beta of 2.03.

Omada Health (NASDAQ:OMDA) last posted its earnings results on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.10. Omada Health had a return on equity of 2.60% and a net margin of 1.39%. The business had revenue of $87.83 million during the quarter, compared to analyst estimates of $80.93 million. Equities research analysts anticipate that Omada Health will post 0.09 EPS for the current year.

Insider Activity

In other news, President Wei-Li Shao sold 8,866 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $25.02, for a total transaction of $221,827.32. Following the completion of the transaction, the president directly owned 307,372 shares in the company, valued at $7,690,447.44. The trade was a 2.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Cook sold 15,235 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $25.03, for a total transaction of $381,332.05. Following the completion of the transaction, the chief financial officer directly owned 187,209 shares in the company, valued at approximately $4,685,841.27. The trade was a 7.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 127,642 shares of company stock worth $2,915,201 in the last three months. Corporate insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Omada Health

Several large investors have recently added to or reduced their stakes in OMDA. Walleye Capital LLC purchased a new position in Omada Health during the second quarter worth about $11,648,000. Quantinno Capital Management LP raised its holdings in shares of Omada Health by 464.1% in the 1st quarter. Quantinno Capital Management LP now owns 58,723 shares of the company’s stock valued at $738,000 after acquiring an additional 48,313 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Omada Health in the 2nd quarter valued at about $1,289,000. AlpInvest Partners B.V. purchased a new stake in shares of Omada Health in the 2nd quarter valued at about $1,182,000. Finally, Corient Private Wealth LP bought a new stake in shares of Omada Health during the 2nd quarter valued at about $3,108,000.

About Omada Health

Omada Health, Inc is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines connected health devices, digital tools, health coaching and clinical support to help members improve their health and manage conditions such as diabetes, hypertension and musculoskeletal disorders.

The company’s services are designed for employers, health plans and other healthcare organizations seeking to support populations with ongoing healthcare needs.