Omada Health (NASDAQ:OMDA) Stock Gets Downgrade from Zacks Research

Omada Health (NASDAQ:OMDA) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks reports.

Several other equities research analysts have also issued reports on OMDA. Weiss Ratings lowered shares of Omada Health from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of Omada Health from a “hold” rating to a “buy” rating in a research note on Sunday, October 11th. Canaccord Genuity Group increased their price objective on shares of Omada Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Robert W. Baird raised their price objective on Omada Health from $15.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 target price on shares of Omada Health in a research report on Friday, September 11th. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Omada Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.42.

Omada Health Stock Down 2.5%

Shares of OMDA opened at $18.95 on Wednesday. Omada Health has a twelve month low of $10.28 and a twelve month high of $25.45. The stock has a market capitalization of $1.16 billion, a P/E ratio of 379.00 and a beta of 2.13. The company has a 50 day moving average of $20.33 and a 200-day moving average of $17.74.

Omada Health (NASDAQ:OMDA) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. Omada Health had a net margin of 1.39% and a return on equity of 2.60%. The business had revenue of $91.31 million for the quarter. On average, sell-side analysts anticipate that Omada Health will post 0.09 earnings per share for the current fiscal year.

Insider Activity

In other 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 value of $88,186.60. Following the completion of the transaction, the president owned 295,313 shares of the company’s stock, valued at $6,452,589.05. This trade represents a 1.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Craig Gracey sold 1,042 shares of Omada Health stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $25.00, for a total value of $26,050.00. Following the transaction, the chief accounting officer owned 15,441 shares of the company’s stock, valued at $386,025. The trade was a 6.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 106,070 shares of company stock worth $2,462,621. 6.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Omada Health

Several institutional investors and hedge funds have recently made changes to their positions in OMDA. Walleye Capital LLC bought a new position in Omada Health during the second quarter worth about $11,648,000. Quantinno Capital Management LP lifted its holdings in shares of Omada Health by 464.1% during the 1st quarter. Quantinno Capital Management LP now owns 58,723 shares of the company’s stock worth $738,000 after acquiring an additional 48,313 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Omada Health during the 2nd quarter worth approximately $1,289,000. AlpInvest Partners B.V. acquired a new stake in shares of Omada Health during the 2nd quarter worth approximately $1,182,000. Finally, Corient Private Wealth LP bought a new position in shares of Omada Health in the 2nd quarter valued at $3,108,000.

About Omada Health

Omada Health, Inc (NASDAQ: OMDA) is a digital health company that provides virtual care programs for people managing chronic conditions. Its platform combines personalized health coaching, clinical support, behavioral-change tools and connected devices to help members monitor and improve their health.

The company’s offerings focus primarily on cardiometabolic conditions, including diabetes, prediabetes, hypertension and obesity, as well as musculoskeletal conditions. Depending on the program, members may receive access to digital lessons, health tracking, remote monitoring, care teams and clinical guidance through Omada’s technology platform.

Omada Health was founded in 2011 and serves employers, health plans and other healthcare organizations in the United States.