Omada Health (NASDAQ:OMDA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Omada Health (NASDAQ:OMDA) from a hold rating to a buy rating in a report issued on Sunday morning,Wall Street Zen reports.

Other analysts have also issued research reports about the stock. BMO Capital Markets restated an “outperform” rating and set a $24.00 price target on shares of Omada Health in a research note on Friday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Omada Health in a research note on Monday, June 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $28.00 price objective on shares of Omada Health in a research note on Friday, September 11th. Robert W. Baird lifted their price objective on shares of Omada Health from $15.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, August 12th. Finally, Zacks Research raised shares of Omada Health from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Omada Health Stock Performance

Shares of Omada Health stock opened at $18.30 on Friday. The stock has a market capitalization of $1.12 billion, a PE ratio of 273.38 and a beta of 2.03. Omada Health has a 52 week low of $10.28 and a 52 week high of $26.92. The stock has a 50 day moving average price of $21.88 and a two-hundred day moving average price of $19.03.

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

Insider Activity

In related news, CEO Sean Duffy sold 21,572 shares of Omada Health stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $23.62, for a total transaction of $509,530.64. Following the transaction, the chief executive officer owned 411,861 shares of the company’s stock, valued at $9,728,156.82. The trade was a 4.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven Cook sold 15,235 shares of Omada Health stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $25.03, for a total value of $381,332.05. Following the transaction, the chief financial officer directly owned 187,209 shares in the company, valued at approximately $4,685,841.27. The trade was a 7.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 127,642 shares of company stock worth $2,915,201 over the last 90 days. 6.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Omada Health

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in Omada Health during the second quarter worth $48,775,000. SG Americas Securities LLC bought a new position in Omada Health in the 1st quarter valued at $10,401,000. Jefferies Financial Group Inc. bought a new position in Omada Health in the 2nd quarter valued at $15,016,000. Madryn Asset Management LP bought a new position in Omada Health in the 2nd quarter valued at $12,814,410. Finally, Walleye Capital LLC purchased a new stake in shares of Omada Health during the 2nd quarter valued at $11,648,000.

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.