Omada Health (NASDAQ:OMDA) Shares Down 4.5% – Should You Sell?

Shares of Omada Health, Inc. (NASDAQ:OMDA) fell 4.5% during trading on Wednesday . The stock traded as low as $17.47 and last traded at $17.50. 63,212 shares traded hands during trading, a decline of 95% from the average session volume of 1,212,802 shares. The stock had previously closed at $18.32.

Analyst Ratings Changes

A number of research firms recently issued reports on OMDA. The Goldman Sachs Group reiterated a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. Morgan Stanley reduced their price target on shares of Omada Health from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price target on shares of Omada Health in a research note on Friday, May 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Omada Health in a research report on Thursday, June 4th. Finally, Citigroup restated an “outperform” rating on shares of Omada Health in a research note on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.91.

Omada Health Stock Performance

The stock has a market cap of $1.05 billion and a PE ratio of -65.67. The company’s 50 day simple moving average is $15.26 and its 200 day simple moving average is $14.82.

Omada Health (NASDAQ:OMDA) last announced 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 for the quarter. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%. Equities research analysts expect that Omada Health, Inc. will post -0.01 earnings per share for the current year.

Insiders Place Their Bets

In other Omada Health news, President Wei-Li Shao sold 2,829 shares of the business’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $12.71, for a total value of $35,956.59. Following the transaction, the president owned 328,850 shares of the company’s stock, valued at approximately $4,179,683.50. The trade was a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Omada Health

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in Omada Health during the fourth quarter valued at about $29,000. TD Waterhouse Canada Inc. bought a new stake in Omada Health in the fourth quarter worth about $32,000. Raymond James Financial Inc. purchased a new position in Omada Health in the second quarter valued at about $32,000. Inlight Wealth Management LLC bought a new position in Omada Health during the fourth quarter valued at $45,000. Finally, Strs Ohio grew its stake in shares of Omada Health by 151.0% during the 4th quarter. Strs Ohio now owns 4,267 shares of the company’s stock worth $67,000 after acquiring an additional 2,567 shares during the period.

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.