Omada Health (NASDAQ:OMDA) Stock Rating Upgraded by Zacks Research

Omada Health (NASDAQ:OMDA) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

Other equities research analysts also recently issued reports about the company. Wall Street Zen downgraded Omada Health from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Robert W. Baird raised their price target on Omada Health from $15.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. Barclays lifted their price objective on Omada Health from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, September 11th. Canaccord Genuity Group upped their price objective on Omada Health from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. increased their target price on Omada Health from $26.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Omada Health has an average rating of “Moderate Buy” and a consensus price target of $26.67.

Omada Health Stock Performance

OMDA opened at $20.89 on Tuesday. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 417.80 and a beta of 2.03. The company has a fifty day moving average of $21.84 and a 200 day moving average of $18.82. Omada Health has a fifty-two week low of $10.28 and a fifty-two week high of $26.92.

Omada Health (NASDAQ:OMDA) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.10. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. The business had revenue of $87.83 million for the quarter, compared to analysts’ expectations of $80.93 million. On average, equities research analysts forecast that Omada Health will post 0.09 earnings per share for the current year.

Insider Activity

In related news, President Wei-Li Shao sold 4,036 shares of Omada Health stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $21.85, for a total transaction of $88,186.60. Following the completion of the transaction, the president directly owned 295,313 shares of the company’s stock, valued at approximately $6,452,589.05. The trade was a 1.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven Cook sold 6,800 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $21.86, for a total transaction of $148,648.00. Following the transaction, the chief financial officer owned 173,906 shares in the company, valued at $3,801,585.16. The trade was a 3.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 127,642 shares of company stock worth $2,915,201 over the last 90 days. Insiders own 6.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OMDA. BlackRock Inc. bought a new stake in shares of Omada Health during the 2nd quarter worth approximately $48,775,000. Jefferies Financial Group Inc. purchased a new stake in Omada Health in the second quarter worth $15,016,000. Madryn Asset Management LP purchased a new stake in Omada Health in the second quarter worth $12,814,410. Walleye Capital LLC bought a new stake in shares of Omada Health during the second quarter worth $11,648,000. Finally, SG Americas Securities LLC bought a new stake in shares of Omada Health during the first quarter worth $10,401,000.

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.