Omada Health (NASDAQ:OMDA) Hits New 12-Month Low – Here’s What Happened

Omada Health, Inc. (NASDAQ:OMDA) reached a new 52-week low during trading on Tuesday . The company traded as low as $13.32 and last traded at $13.33, with a volume of 626354 shares. The stock had previously closed at $14.86.

Analysts Set New Price Targets

A number of equities analysts have commented on OMDA shares. Wells Fargo & Company began coverage on shares of Omada Health in a research note on Thursday, January 8th. They issued an “equal weight” rating and a $17.00 target price on the stock. Morgan Stanley set a $32.00 target price on Omada Health in a report on Thursday, December 18th. Barclays cut their price target on Omada Health from $29.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, January 5th. Needham & Company LLC reiterated a “buy” rating and set a $28.00 target price on shares of Omada Health in a report on Thursday, January 22nd. Finally, Evercore ISI upped their target price on Omada Health from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.10.

Omada Health Stock Down 11.3%

The firm has a market cap of $763.25 million and a PE ratio of -52.72. The stock has a 50 day moving average price of $15.99 and a two-hundred day moving average price of $19.82.

Insiders Place Their Bets

In other news, CEO Sean P. Duffy sold 230,479 shares of Omada Health stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 126,644 shares in the company, valued at approximately $1,975,646.40. The trade was a 64.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Wei-Li Shao sold 5,618 shares of Omada Health stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $16.13, for a total value of $90,618.34. Following the sale, the president directly owned 69,079 shares of the company’s stock, valued at approximately $1,114,244.27. This represents a 7.52% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 276,893 shares of company stock valued at $4,336,787.

Institutional Trading of Omada Health

Large investors have recently made changes to their positions in the business. Strs Ohio purchased a new position in shares of Omada Health during the third quarter worth $38,000. Raymond James Financial Inc. purchased a new position in shares of Omada Health during the 2nd quarter valued at about $32,000. Bellevue Group AG lifted its holdings in shares of Omada Health by 0.7% in the 3rd quarter. Bellevue Group AG now owns 251,791 shares of the company’s stock valued at $5,567,000 after buying an additional 1,791 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in Omada Health during the fourth quarter worth about $32,000. Finally, Rakuten Investment Management Inc. purchased a new position in Omada Health during the third quarter valued at approximately $49,000.

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.