Omada Health’s (OMDA) “Buy” Rating Reiterated at Needham & Company LLC

Omada Health (NASDAQ:OMDA)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They currently have a $28.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 70.73% from the company’s current price.

Several other analysts have also weighed in on OMDA. Wall Street Zen upgraded Omada Health from a “hold” rating to a “buy” rating in a report on Saturday, March 14th. JPMorgan Chase & Co. cut their price target on shares of Omada Health from $32.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, March 12th. Evercore restated an “outperform” rating and set a $15.00 price objective on shares of Omada Health in a research report on Wednesday, April 8th. Morgan Stanley dropped their target price on shares of Omada Health from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Friday, March 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Omada Health from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, April 9th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Omada Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.64.

Omada Health Price Performance

NASDAQ OMDA opened at $16.40 on Friday. Omada Health has a 12 month low of $10.28 and a 12 month high of $28.40. The firm has a market capitalization of $974.49 million and a PE ratio of -96.47. The company’s 50 day simple moving average is $13.55 and its 200 day simple moving average is $15.85.

Omada Health (NASDAQ:OMDA) last released its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $78.05 million during the quarter. Sell-side analysts anticipate that Omada Health will post -0.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Omada Health news, CEO Sean P. Duffy sold 4,063 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $14.34, for a total value of $58,263.42. Following the completion of the transaction, the chief executive officer directly owned 117,598 shares in the company, valued at $1,686,355.32. This trade represents a 3.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven L. Cook sold 1,884 shares of Omada Health stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $13.94, for a total transaction of $26,262.96. Following the completion of the transaction, the chief financial officer directly owned 200,512 shares in the company, valued at approximately $2,795,137.28. This trade represents a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 8,776 shares of company stock valued at $120,483.

Hedge Funds Weigh In On Omada Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BIT Capital GmbH acquired a new stake in Omada Health during the 3rd quarter valued at $13,639,000. Divisadero Street Capital Management LP purchased a new position in shares of Omada Health during the third quarter valued at $30,510,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Omada Health during the fourth quarter valued at $1,222,000. Tudor Investment Corp ET AL acquired a new position in Omada Health during the third quarter valued at $987,000. Finally, Fortress Investment Group LLC lifted its stake in Omada Health by 43.1% in the 3rd quarter. Fortress Investment Group LLC now owns 225,000 shares of the company’s stock worth $4,975,000 after acquiring an additional 67,750 shares in the last quarter.

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.