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 report released on Saturday.

OMDA has been the topic of several other research reports. The Goldman Sachs Group restated a “buy” rating and issued a $26.00 price objective on shares of Omada Health in a research note on Friday, January 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Omada Health in a report on Thursday, January 22nd. Wells Fargo & Company assumed coverage on shares of Omada Health in a report on Thursday, January 8th. They set an “equal weight” rating and a $17.00 price objective on the stock. Barclays cut their price objective 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, March 3rd. Finally, Canaccord Genuity Group reduced their target price on shares of Omada Health from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 6th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

Omada Health Stock Performance

NASDAQ OMDA opened at $14.53 on Friday. Omada Health has a twelve month low of $10.28 and a twelve month high of $28.40. The stock has a market capitalization of $856.11 million and a PE ratio of -85.47. The stock has a 50-day simple moving average of $13.89 and a 200 day simple moving average of $18.39.

Omada Health (NASDAQ:OMDA) last released its earnings results on Thursday, March 5th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.12. The business had revenue of $75.85 million during the quarter.

Insider Activity at Omada Health

In other Omada Health news, President Wei-Li Shao sold 5,618 shares of the company’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $16.13, for a total transaction 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 represents a 7.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sean P. Duffy sold 4,063 shares of the stock in a transaction on Monday, March 9th. The shares were sold at an average price of $14.34, for a total value of $58,263.42. Following the completion of the transaction, the chief executive officer owned 117,598 shares in the company, valued at $1,686,355.32. The trade was a 3.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 280,956 shares of company stock worth $4,395,050 over the last three months.

Institutional Investors Weigh In On Omada Health

Institutional investors and hedge funds have recently made changes to their positions in the company. Cigna Investments Inc. New acquired a new position in Omada Health during the 3rd quarter valued at about $76,161,000. Perceptive Advisors LLC acquired a new stake in Omada Health during the 2nd quarter worth $44,402,000. Millennium Management LLC raised its position in shares of Omada Health by 1,195.0% during the 4th quarter. Millennium Management LLC now owns 2,272,168 shares of the company’s stock valued at $35,855,000 after acquiring an additional 2,096,705 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in shares of Omada Health by 23.0% in the 4th quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock valued at $29,283,000 after purchasing an additional 346,588 shares during the period. Finally, Divisadero Street Capital Management LP acquired a new position in shares of Omada Health in the 3rd quarter valued at $30,510,000.

About Omada Health

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.