Omada Health (NASDAQ:OMDA) Stock Gets Downgrade from Zacks Research

Omada Health (NASDAQ:OMDA) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

A number of other analysts have also recently weighed in on the company. Citizens Jmp increased their price objective on Omada Health from $27.00 to $32.00 and gave the stock a “market outperform” rating in a research report on Friday, August 14th. Robert W. Baird boosted their target price on Omada Health from $15.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. Needham & Company LLC restated a “buy” rating and set a $28.00 price target 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. Finally, Wall Street Zen raised Omada Health from a “hold” rating to a “buy” rating in a report on Sunday, October 11th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Omada Health currently has an average rating of “Moderate Buy” and a consensus price target of $26.42.

Omada Health Stock Performance

Shares of OMDA opened at $18.95 on Wednesday. Omada Health has a fifty-two week low of $10.28 and a fifty-two week high of $25.45. The firm has a 50-day simple moving average of $20.33 and a 200-day simple moving average of $17.74. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 242.88 and a beta of 2.13.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. The firm had revenue of $91.31 million for the quarter. Omada Health had a return on equity of 2.60% and a net margin of 1.39%. Equities research analysts forecast that Omada Health will post 0.09 EPS for the current year.

Insiders Place Their Bets

In other news, President Wei-Li Shao sold 8,866 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $25.02, for a total value of $221,827.32. Following the completion of the sale, the president directly owned 307,372 shares of the company’s stock, valued at $7,690,447.44. This trade represents a 2.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven L. 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 value of $381,332.05. Following the transaction, the chief financial officer directly owned 187,209 shares in the company, valued at $4,685,841.27. This represents a 7.53% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 106,070 shares of company stock worth $2,462,621. Company insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Omada Health

A number of hedge funds and other institutional investors have recently bought and sold shares of OMDA. Sterling Capital Management LLC boosted its position in shares of Omada Health by 1,161.6% during the 3rd quarter. Sterling Capital Management LLC now owns 1,577 shares of the company’s stock worth $33,000 after purchasing an additional 1,452 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Omada Health by 319.3% during the 2nd quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock worth $66,000 after purchasing an additional 2,283 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Omada Health during the 2nd quarter worth $53,000. State of Alaska Department of Revenue purchased a new position in shares of Omada Health in the 3rd quarter valued at about $59,000. Finally, Legal & General Group Plc purchased a new position in shares of Omada Health in the 2nd quarter valued at about $76,000.

Omada Health Company Profile

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.