Omada Health (NASDAQ:OMDA) Sets New 12-Month Low – Here’s Why

Omada Health, Inc. (NASDAQ:OMDA) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $13.32 and last traded at $13.33, with a volume of 626354 shares traded. The stock had previously closed at $14.86.

Analysts Set New Price Targets

OMDA has been the subject of several recent analyst reports. Evercore ISI raised their price target on Omada Health from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Barclays decreased their target price on shares of Omada Health from $29.00 to $22.00 and set an “overweight” rating on the stock in a research report on Monday, January 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $26.00 price target on shares of Omada Health in a report on Friday, January 16th. BMO Capital Markets started coverage on shares of Omada Health in a report on Thursday, November 13th. They set an “outperform” rating and a $27.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Omada Health in a research report on Thursday, January 22nd. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.10.

Omada Health Trading Down 11.3%

The firm has a 50 day moving average price of $15.67 and a 200-day moving average price of $19.69. The firm has a market cap of $693.76 million and a price-to-earnings ratio of -47.92.

Insider Activity

In other Omada Health news, President Wei-Li Shao sold 5,618 shares of the 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 sale, the president owned 69,079 shares in the company, valued at approximately $1,114,244.27. This represents a 7.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sean P. Duffy sold 40,796 shares of the business’s stock in a transaction on Tuesday, January 13th. The stock was sold at an average price of $15.95, for a total value of $650,696.20. Following the completion of the transaction, the chief executive officer directly owned 126,644 shares of the company’s stock, valued at approximately $2,019,971.80. This trade represents a 24.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 276,893 shares of company stock worth $4,336,787 in the last ninety days.

Institutional Trading of Omada Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OMDA. Cigna Investments Inc. New purchased a new position in Omada Health in the 3rd quarter valued at about $76,161,000. Perceptive Advisors LLC purchased a new position in shares of Omada Health during the second quarter valued at approximately $44,402,000. Divisadero Street Capital Management LP acquired a new stake in Omada Health during the third quarter worth approximately $30,510,000. Loomis Sayles & Co. L P purchased a new stake in Omada Health in the 2nd quarter worth approximately $19,948,000. Finally, BIT Capital GmbH acquired a new position in Omada Health in the 3rd quarter valued at $13,639,000.

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.