Omada Health (NASDAQ:OMDA) Posts Earnings Results

Omada Health (NASDAQ:OMDA) issued its quarterly earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, FiscalAI reports. The company had revenue of $75.85 million during the quarter.

Omada Health Trading Up 0.6%

Omada Health stock traded up $0.08 on Thursday, reaching $13.60. 2,455,349 shares of the stock were exchanged, compared to its average volume of 1,195,732. Omada Health has a twelve month low of $10.28 and a twelve month high of $28.40. The firm has a fifty day moving average price of $14.11 and a two-hundred day moving average price of $18.77. The stock has a market cap of $787.58 million and a PE ratio of -54.40.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Omada Health in a research report on Thursday, January 22nd. Evercore increased their price objective on Omada Health from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. The Goldman Sachs Group reiterated a “buy” rating and set a $26.00 price target on shares of Omada Health in a report on Friday, January 16th. Wells Fargo & Company began coverage on Omada Health in a report on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 price objective on the stock. Finally, Barclays decreased their target price on shares of Omada Health from $22.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.60.

Insider Activity

In other news, CEO Sean P. Duffy sold 40,796 shares of Omada Health stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $15.95, for a total value of $650,696.20. Following the transaction, the chief executive officer directly owned 126,644 shares in the company, valued at approximately $2,019,971.80. The trade was a 24.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Wei-Li Shao sold 5,618 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $16.13, for a total value of $90,618.34. Following the transaction, the president owned 69,079 shares of the company’s stock, valued at approximately $1,114,244.27. This trade represents a 7.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 276,893 shares of company stock worth $4,336,787.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in OMDA. Cigna Investments Inc. New bought a new position in Omada Health in the third quarter worth $76,161,000. Fortress Investment Group LLC bought a new position in shares of Omada Health during the 2nd quarter worth about $2,878,000. Bellevue Group AG acquired a new stake in shares of Omada Health during the 2nd quarter valued at about $4,575,000. Federated Hermes Inc. acquired a new stake in Omada Health during the second quarter valued at approximately $9,150,000. Finally, BIT Capital GmbH bought a new stake in Omada Health in the third quarter valued at $13,639,000.

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.