Omada Health (NASDAQ:OMDA) Raised to “Buy” at Wall Street Zen

Omada Health (NASDAQ:OMDA) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. BTIG Research restated a “buy” rating and set a $35.00 target price on shares of Omada Health in a report on Friday, September 11th. Citigroup reaffirmed an “outperform” rating on shares of Omada Health in a report on Friday, August 14th. Needham & Company LLC reiterated a “buy” rating and issued a $28.00 price target on shares of Omada Health in a research report on Friday, September 11th. Zacks Research upgraded shares of Omada Health from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Finally, Citizens Jmp raised their price objective on shares of Omada Health from $27.00 to $32.00 and gave the stock a “market outperform” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.67.

Omada Health Stock Up 1.5%

Shares of OMDA stock opened at $21.87 on Friday. Omada Health has a fifty-two week low of $10.28 and a fifty-two week high of $26.92. The stock has a market cap of $1.34 billion, a P/E ratio of 437.40 and a beta of 2.03. The business has a fifty day simple moving average of $21.92 and a 200-day simple moving average of $18.99.

Omada Health (NASDAQ:OMDA) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $80.93 million. On average, sell-side analysts anticipate that Omada Health will post 0.09 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Sean P. Duffy sold 17,258 shares of Omada Health stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $20.68, for a total transaction of $356,895.44. Following the completion of the sale, the chief executive officer owned 382,594 shares in the company, valued at approximately $7,912,043.92. This trade represents a 4.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Steven L. Cook sold 6,800 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $21.86, for a total transaction of $148,648.00. Following the completion of the transaction, the chief financial officer directly owned 173,906 shares of the company’s stock, valued at $3,801,585.16. The trade was a 3.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 127,642 shares of company stock valued at $2,915,201 over the last three months. Insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Omada Health

Hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Omada Health in the second quarter valued at $53,000. Versant Capital Management Inc increased its stake in Omada Health by 319.3% in the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock valued at $66,000 after purchasing an additional 2,283 shares during the last quarter. Legal & General Group Plc purchased a new position in Omada Health during the second quarter worth about $76,000. The Manufacturers Life Insurance Company purchased a new position in Omada Health during the second quarter worth about $215,000. Finally, Fifth Third Bancorp acquired a new stake in Omada Health in the 1st quarter worth about $127,000.

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.