Omada Health (NASDAQ:OMDA) Trading 5.3% Higher – Still a Buy?

Omada Health, Inc. (NASDAQ:OMDA) shares shot up 5.3% during trading on Thursday . The company traded as high as $22.19 and last traded at $22.6290. 64,744 shares were traded during trading, a decline of 95% from the average session volume of 1,243,073 shares. The stock had previously closed at $21.50.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on OMDA shares. Weiss Ratings raised Omada Health from a “sell (e+)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Wall Street Zen raised Omada Health from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. boosted their price target on Omada Health from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Robert W. Baird increased their price target on Omada Health from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. Finally, BTIG Research lifted their price objective on shares of Omada Health from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Omada Health Price Performance

The company has a market cap of $1.33 billion, a P/E ratio of 434.38 and a beta of 1.86. The stock has a fifty day moving average price of $22.70 and a two-hundred day moving average price of $17.84.

Omada Health (NASDAQ:OMDA) last announced its earnings results on Thursday, August 6th. The company reported $0.08 EPS for the quarter, beating 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 company had revenue of $87.83 million during the quarter, compared to the consensus estimate of $80.93 million. Equities analysts predict that Omada Health, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Transactions at Omada Health

In related news, CEO Sean Duffy sold 25,886 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total transaction of $587,094.48. Following the completion of the transaction, the chief executive officer owned 411,861 shares in the company, valued at approximately $9,341,007.48. This represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Cook sold 33,000 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $19.89, for a total transaction of $656,370.00. Following the transaction, the chief financial officer directly owned 133,359 shares of the company’s stock, valued at $2,652,510.51. This represents a 19.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 277,406 shares of company stock worth $5,907,726 over the last three months. 6.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in OMDA. Raymond James Financial Inc. purchased a new position in Omada Health in the 2nd quarter valued at approximately $32,000. Bellevue Group AG lifted its stake in Omada Health by 0.7% during the third quarter. Bellevue Group AG now owns 251,791 shares of the company’s stock worth $5,567,000 after purchasing an additional 1,791 shares during the last quarter. Quarry LP purchased a new stake in Omada Health in the fourth quarter worth approximately $29,000. Barclays PLC boosted its stake in shares of Omada Health by 14.6% in the 4th quarter. Barclays PLC now owns 14,850 shares of the company’s stock valued at $234,000 after purchasing an additional 1,888 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Omada Health by 319.3% during the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock valued at $66,000 after buying an additional 2,283 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.