BTIG Research Reaffirms Buy Rating for Omada Health (NASDAQ:OMDA)

Omada Health (NASDAQ:OMDA)‘s stock had its “buy” rating restated by stock analysts at BTIG Research in a research note issued on Friday, Benzinga reports. They presently have a $35.00 target price on the stock. BTIG Research’s target price would suggest a potential upside of 62.79% from the company’s previous close.

OMDA has been the topic of several other research reports. JPMorgan Chase & Co. upped their price objective on shares of Omada Health from $26.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Citizens Jmp raised their target price on Omada Health from $27.00 to $32.00 and gave the company a “market outperform” rating in a research note on Friday, August 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price target on shares of Omada Health in a research note on Friday. Morgan Stanley reiterated an “overweight” rating and issued a $30.00 price target on shares of Omada Health in a report on Monday, June 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $24.00 price objective on shares of Omada Health in a research note on Friday, August 7th. Eleven analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Omada Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

Omada Health Stock Performance

Shares of OMDA opened at $21.50 on Friday. The business’s 50 day moving average price is $22.68 and its two-hundred day moving average price is $17.91. The firm has a market cap of $1.32 billion, a PE ratio of 430.00 and a beta of 1.86. Omada Health has a 52-week low of $10.28 and a 52-week high of $26.92.

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

Insiders Place Their Bets

In other news, CEO Sean Duffy sold 25,886 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total value of $587,094.48. Following the completion of the sale, the chief executive officer owned 411,861 shares in the company, valued at $9,341,007.48. This represents a 5.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Steven Cook sold 33,000 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $19.89, for a total transaction of $656,370.00. Following the completion of the sale, the chief financial officer owned 133,359 shares of the company’s stock, valued at approximately $2,652,510.51. This represents a 19.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 265,923 shares of company stock worth $5,708,519 over the last ninety days. Insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Omada Health

Several institutional investors have recently modified their holdings of OMDA. Perceptive Advisors LLC purchased a new stake in shares of Omada Health during the second quarter valued at approximately $44,402,000. Millennium Management LLC grew its position in shares of Omada Health by 1,195.0% during the 4th quarter. Millennium Management LLC now owns 2,272,168 shares of the company’s stock valued at $35,855,000 after acquiring an additional 2,096,705 shares during the period. BlackRock Inc. purchased a new position in Omada Health in the second quarter valued at approximately $48,775,000. Loomis Sayles & Co. L P raised its stake in shares of Omada Health by 23.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock valued at $29,283,000 after buying an additional 346,588 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in Omada Health in the 4th quarter worth about $16,948,000.

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.