Wells Fargo & Company Upgrades Omada Health (NASDAQ:OMDA) to Hold

Omada Health (NASDAQ:OMDA) was upgraded by Wells Fargo & Company to a “hold” rating in a report issued on Thursday,Zacks.com reports.

A number of other research firms have also weighed in on OMDA. Barclays lowered their target price on shares of Omada Health from $29.00 to $22.00 and set an “overweight” rating on the stock in a report on Monday. Morgan Stanley set a $32.00 price objective on Omada Health in a research note on Thursday, December 18th. The Goldman Sachs Group set a $29.00 target price on Omada Health in a research report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of Omada Health in a research report on Wednesday, October 8th. Finally, Needham & Company LLC raised their price objective on Omada Health from $26.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $25.40.

Omada Health Trading Down 6.3%

Omada Health stock opened at $15.41 on Thursday. The firm has a market capitalization of $892.39 million and a price-to-earnings ratio of -61.64. The firm’s fifty day moving average price is $17.60 and its two-hundred day moving average price is $20.02. Omada Health has a 1-year low of $14.14 and a 1-year high of $28.40.

Insider Activity at Omada Health

In related news, President Wei-Li Shao sold 5,618 shares of the stock in a transaction that occurred 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 completion of the sale, the president directly owned 69,079 shares of the company’s stock, valued at approximately $1,114,244.27. This trade represents a 7.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

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

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.