Omada Health (NASDAQ:OMDA) Trading Down 5.9% – Time to Sell?

Omada Health, Inc. (NASDAQ:OMDA) traded down 5.9% during mid-day trading on Friday . The stock traded as low as $15.44 and last traded at $15.47. 153,860 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 732,380 shares. The stock had previously closed at $16.44.

Wall Street Analysts Forecast Growth

OMDA has been the subject of several research analyst reports. BMO Capital Markets started coverage on Omada Health in a report on Thursday, November 13th. They issued an “outperform” rating and a $27.00 price objective for the company. Barclays dropped their price target on Omada Health from $29.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday. Evercore ISI lifted their price target on shares of Omada Health from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, November 7th. Morgan Stanley set a $32.00 price objective on shares of Omada Health in a report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Omada Health in a research note on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Omada Health presently has a consensus rating of “Moderate Buy” and an average target price of $25.40.

Omada Health Price Performance

The firm has a market cap of $886.60 million and a PE ratio of -61.24. The firm has a 50-day simple moving average of $17.78 and a 200 day simple moving average of $20.01.

Insider Buying and Selling

In related news, President Wei-Li Shao sold 5,618 shares of the business’s stock in a transaction dated Monday, December 29th. The shares were 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 of the company’s stock, valued at $1,114,244.27. The trade was a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Trading of Omada Health

A number of hedge funds have recently made changes to their positions in the stock. Strs Ohio purchased a new stake in shares of Omada Health in the 3rd quarter worth approximately $38,000. Raymond James Financial Inc. bought a new stake in Omada Health in the second quarter worth $32,000. Bellevue Group AG grew its stake in shares of Omada Health by 0.7% in the third quarter. Bellevue Group AG now owns 251,791 shares of the company’s stock worth $5,567,000 after acquiring an additional 1,791 shares during the last quarter. Rakuten Investment Management Inc. bought a new position in shares of Omada Health during the third quarter valued at $49,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Omada Health in the 3rd quarter worth about $82,000.

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.