Omada Health (NASDAQ:OMDA) Shares Down 6.7% – What’s Next?

Omada Health, Inc. (NASDAQ:OMDA)’s share price traded down 6.7% on Thursday . The stock traded as low as $12.05 and last traded at $11.77. 38,085 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 1,356,677 shares. The stock had previously closed at $12.61.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on OMDA shares. The Goldman Sachs Group restated a “buy” rating and issued a $26.00 target price on shares of Omada Health in a research note on Friday, January 16th. Barclays dropped their price objective on shares of Omada Health from $22.00 to $17.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Wall Street Zen upgraded Omada Health from a “hold” rating to a “buy” rating in a research report on Saturday, March 14th. Canaccord Genuity Group reduced their price target on shares of Omada Health from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. Finally, BMO Capital Markets cut their price objective on shares of Omada Health from $27.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, March 6th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.60.

Omada Health Trading Up 0.0%

The firm has a market cap of $743.10 million and a price-to-earnings ratio of -74.32. The firm has a 50 day moving average price of $13.23 and a 200-day moving average price of $17.52.

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

Insider Transactions at Omada Health

In other news, CEO Sean P. Duffy sold 230,479 shares of the stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $15.60, for a total transaction of $3,595,472.40. Following the transaction, the chief executive officer directly owned 126,644 shares in the company, valued at $1,975,646.40. This represents a 64.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven L. Cook sold 1,884 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $13.94, for a total transaction of $26,262.96. Following the sale, the chief financial officer directly owned 200,512 shares of the company’s stock, valued at $2,795,137.28. This represents a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 277,222 shares of company stock valued at $4,330,695.

Institutional Trading of Omada Health

A number of institutional investors and hedge funds have recently bought and sold shares of OMDA. Strs Ohio acquired a new position in Omada Health during the third quarter valued at approximately $38,000. Raymond James Financial Inc. acquired a new position in shares of Omada Health during the 2nd quarter valued at $32,000. Bellevue Group AG boosted its position in Omada Health by 0.7% during the 3rd quarter. Bellevue Group AG now owns 251,791 shares of the company’s stock worth $5,567,000 after purchasing an additional 1,791 shares during the period. Quarry LP purchased a new position in Omada Health in the fourth quarter valued at about $29,000. Finally, Barclays PLC lifted its stake in shares of Omada Health by 14.6% during the fourth quarter. Barclays PLC now owns 14,850 shares of the company’s stock worth $234,000 after purchasing an additional 1,888 shares in the last quarter.

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.