Omada Health (NASDAQ:OMDA) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of Omada Health (NASDAQ:OMDA) from a hold rating to a buy rating in a report issued on Sunday,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on OMDA. BTIG Research reissued a “buy” rating and set a $35.00 price objective on shares of Omada Health in a report on Friday, September 11th. Zacks Research raised Omada Health from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 price target on shares of Omada Health in a research report on Friday, September 11th. Citigroup reiterated an “outperform” rating on shares of Omada Health in a research report on Friday, August 14th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $30.00 price target on shares of Omada Health in a report on Monday, June 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.67.

Omada Health Price Performance

Shares of OMDA stock opened at $21.55 on Friday. The company’s fifty day simple moving average is $21.89 and its two-hundred day simple moving average is $18.93. Omada Health has a 1 year low of $10.28 and a 1 year high of $26.92. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 431.00 and a beta of 2.03.

Omada Health (NASDAQ:OMDA) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.10. The firm had revenue of $87.83 million during the quarter, compared to analyst estimates of $80.93 million. Omada Health had a return on equity of 2.60% and a net margin of 1.39%. Equities research analysts anticipate that Omada Health will post 0.09 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Craig Gracey sold 1,042 shares of Omada Health stock in a transaction on Monday, August 10th. The stock was sold at an average price of $25.00, for a total transaction of $26,050.00. Following the completion of the sale, the chief accounting officer owned 15,441 shares of the company’s stock, valued at approximately $386,025. This trade represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sean Duffy sold 17,258 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $20.68, for a total value of $356,895.44. Following the transaction, the chief executive officer owned 382,594 shares of the company’s stock, valued at approximately $7,912,043.92. The trade was a 4.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 127,642 shares of company stock worth $2,915,201 over the last three months. Corporate insiders own 6.38% of the company’s stock.

Institutional Trading of Omada Health

Large investors have recently modified their holdings of the business. Versant Capital Management Inc increased its position in shares of Omada Health by 319.3% in the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock worth $66,000 after purchasing an additional 2,283 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in Omada Health in the second quarter valued at approximately $53,000. Legal & General Group Plc bought a new stake in Omada Health during the second quarter valued at approximately $76,000. The Manufacturers Life Insurance Company bought a new stake in Omada Health during the second quarter valued at approximately $215,000. Finally, Fifth Third Bancorp purchased a new position in Omada Health in the 1st quarter worth approximately $127,000.

Omada Health Company Profile

Omada Health, Inc is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines connected health devices, digital tools, health coaching and clinical support to help members improve their health and manage conditions such as diabetes, hypertension and musculoskeletal disorders.

The company’s services are designed for employers, health plans and other healthcare organizations seeking to support populations with ongoing healthcare needs.