Omada Health (NASDAQ:OMDA) Stock Gets Price Target Reduction from Barclays

Omada Health (NASDAQ:OMDA) had its price objective cut by equities research analysts at Barclays from $27.00 to $24.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 26.42% from the stock’s current price.

A number of other equities research analysts have also commented on OMDA. JPMorgan Chase & Co. upped their price target on shares of Omada Health from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 target price on shares of Omada Health in a research note on Friday, September 11th. Weiss Ratings downgraded Omada Health from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. BMO Capital Markets restated an “outperform” rating and set a $24.00 price target on shares of Omada Health in a research report on Friday, August 7th. Finally, BTIG Research restated a “buy” rating and set a $35.00 price target on shares of Omada Health in a research report on Friday, September 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Omada Health has a consensus rating of “Moderate Buy” and a consensus target price of $26.42.

Omada Health Trading Down 0.1%

Shares of OMDA traded down $0.03 on Wednesday, reaching $18.98. 165,960 shares of the company’s stock traded hands, compared to its average volume of 1,257,740. The stock’s 50 day simple moving average is $21.04 and its two-hundred day simple moving average is $17.64. The stock has a market cap of $1.16 billion, a PE ratio of 379.70 and a beta of 2.03. Omada Health has a 52-week low of $10.28 and a 52-week high of $26.79.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. The company had revenue of $87.83 million during the quarter, compared to analysts’ expectations of $80.93 million. Analysts forecast that Omada Health will post 0.09 earnings per share for the current year.

Insider Activity at Omada Health

In related news, CFO Steven Cook sold 15,235 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $25.03, for a total transaction of $381,332.05. Following the sale, the chief financial officer directly owned 187,209 shares of the company’s stock, valued at $4,685,841.27. This represents a 7.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Wei-Li Shao sold 8,866 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $25.02, for a total transaction of $221,827.32. Following the sale, the president owned 307,372 shares in the company, valued at approximately $7,690,447.44. This trade represents a 2.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 127,642 shares of company stock worth $2,915,201. Corporate insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Omada Health

Large investors have recently bought and sold shares of the stock. Walleye Capital LLC acquired a new position in shares of Omada Health during the second quarter worth $11,648,000. Quantinno Capital Management LP lifted its holdings in Omada Health by 464.1% during the 1st quarter. Quantinno Capital Management LP now owns 58,723 shares of the company’s stock worth $738,000 after buying an additional 48,313 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Omada Health during the 2nd quarter worth about $1,289,000. AlpInvest Partners B.V. purchased a new position in shares of Omada Health in the 2nd quarter valued at about $1,182,000. Finally, Corient Private Wealth LP purchased a new position in shares of Omada Health in the 2nd quarter valued at about $3,108,000.

About Omada Health

Omada Health, Inc (NASDAQ: OMDA) is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines personalized health coaching, clinical support, behavioral-change tools and connected devices to help members monitor and improve their health.

The company’s offerings focus primarily on cardiometabolic conditions, including diabetes, prediabetes, hypertension and obesity, as well as musculoskeletal conditions. Depending on the program, members may receive access to digital lessons, health tracking, remote monitoring, care teams and clinical guidance through Omada’s technology platform.

Omada Health was founded in 2011 and serves employers, health plans and other healthcare organizations in the United States.