Omada Health (NASDAQ:OMDA) Trading Down 5% on Insider Selling

Omada Health, Inc. (NASDAQ:OMDA) traded down 5% on Thursday following insider selling activity. The company traded as low as $21.80 and last traded at $22.1370. 106,820 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 1,244,260 shares. The stock had previously closed at $23.31.

Specifically, CEO Sean Duffy sold 21,572 shares of Omada Health stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $23.62, for a total transaction of $509,530.64. Following the completion of the sale, the chief executive officer directly owned 411,861 shares of the company’s stock, valued at approximately $9,728,156.82. This trade represents a 4.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Steven Cook sold 1,108 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $25.00, for a total value of $27,700.00. Following the completion of the transaction, the chief financial officer directly owned 187,209 shares in the company, valued at approximately $4,680,225. This represents a 0.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Wall Street Analyst Weigh In

Several research firms recently commented on OMDA. Needham & Company LLC restated a “buy” rating and issued a $28.00 price target on shares of Omada Health in a research note on Friday, May 8th. BMO Capital Markets restated an “outperform” rating and set a $24.00 target price on shares of Omada Health in a research report on Friday, August 7th. Wells Fargo & Company raised their target price on shares of Omada Health from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Omada Health from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Robert W. Baird boosted their price target on Omada Health from $15.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, August 12th. Eleven equities 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 has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Omada Health Stock Up 2.2%

The business’s 50 day simple moving average is $22.70 and its two-hundred day simple moving average is $17.58. The stock has a market cap of $1.39 billion, a P/E ratio of 455.40 and a beta of 1.86.

Omada Health (NASDAQ:OMDA) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.10. The company had revenue of $87.83 million for the quarter, compared to the consensus estimate of $80.93 million. Omada Health had a return on equity of 2.60% and a net margin of 1.39%. As a group, research analysts forecast that Omada Health, Inc. will post 0.09 earnings per share for the current fiscal year.

Institutional Trading of Omada Health

Hedge funds have recently made changes to their positions in the company. AlpInvest Partners B.V. bought a new stake in Omada Health during the 2nd quarter worth approximately $1,182,000. Walleye Capital LLC bought a new position in shares of Omada Health during the second quarter valued at $11,648,000. a16z Perennial Management L.P. acquired a new position in shares of Omada Health during the fourth quarter worth $2,480,000. GSA Capital Partners LLP bought a new stake in shares of Omada Health in the second quarter worth $1,289,000. Finally, BlackRock Inc. bought a new stake in shares of Omada Health in the second quarter worth $48,775,000.

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.