Brokerages Set Omada Health, Inc. (NASDAQ:OMDA) Price Target at $24.75

Shares of Omada Health, Inc. (NASDAQ:OMDA) have been assigned an average recommendation of “Moderate Buy” from the fourteen analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $25.6667.

Several equities research analysts recently issued reports on the stock. BMO Capital Markets restated an “outperform” rating and set a $24.00 price objective on shares of Omada Health in a research report on Friday. Canaccord Genuity Group increased their price target on shares of Omada Health from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of Omada Health from a “hold” rating to a “buy” rating in a report on Saturday. Citigroup reaffirmed an “outperform” rating on shares of Omada Health in a research report on Monday, July 20th. Finally, BTIG Research upped their price objective on Omada Health from $30.00 to $35.00 and gave the company a “buy” rating in a report on Monday.

Omada Health Stock Up 5.6%

NASDAQ:OMDA opened at $24.99 on Thursday. Omada Health has a 52 week low of $10.28 and a 52 week high of $26.92. The stock’s 50-day moving average price is $20.49 and its 200-day moving average price is $16.26. The stock has a market capitalization of $1.49 billion, a PE ratio of 499.80 and a beta of 1.73.

Omada Health (NASDAQ:OMDA) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.10. The business had revenue of $87.83 million for the quarter, compared to the consensus estimate of $80.93 million. Omada Health had a net margin of 1.39% and a return on equity of 2.67%. Sell-side analysts expect that Omada Health will post -0.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Sean P. Duffy sold 25,886 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total transaction of $587,094.48. Following the transaction, the chief executive officer owned 411,861 shares of the company’s stock, valued at approximately $9,341,007.48. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Craig Gracey sold 6,894 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.42, for a total transaction of $120,093.48. Following the completion of the transaction, the chief accounting officer directly owned 9,191 shares of the company’s stock, valued at $160,107.22. This represents a 42.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 206,406 shares of company stock worth $4,191,483 over the last ninety days. Corporate insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Omada Health

Several hedge funds and other institutional investors have recently bought and sold shares of OMDA. Geode Capital Management LLC purchased a new stake in shares of Omada Health in the second quarter valued at about $637,000. Walleye Capital LLC purchased a new position in shares of Omada Health in the 2nd quarter valued at approximately $458,000. Ilex Capital Partners UK LLP acquired a new position in Omada Health in the 2nd quarter valued at $201,000. Soros Fund Management LLC acquired a new position in shares of Omada Health during the second quarter worth about $640,000. Finally, Raymond James Financial Inc. purchased a new position in Omada Health during the second quarter worth about $32,000.

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.