Omada Health (NASDAQ:OMDA) Stock Dropped to “Hold” by Zacks Research

Zacks Research lowered shares of Omada Health (NASDAQ:OMDA) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday,Zacks reports.

Other analysts have also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and set a $28.00 target price on shares of Omada Health in a research note on Friday, September 11th. Citigroup reiterated an “outperform” rating on shares of Omada Health in a research note on Friday, August 14th. JPMorgan Chase & Co. upped their price target on shares of Omada Health from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Citizens Jmp increased their price target on shares of Omada Health from $27.00 to $32.00 and gave the company a “market outperform” rating in a report on Friday, August 14th. Finally, BTIG Research restated a “buy” rating and set a $35.00 price objective on shares of Omada Health in a research report on Friday, September 11th. Eleven equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.42.

Omada Health Trading Down 2.5%

OMDA opened at $18.95 on Wednesday. Omada Health has a 1-year low of $10.28 and a 1-year high of $25.45. The stock’s fifty day simple moving average is $20.33 and its 200 day simple moving average is $17.74. The stock has a market cap of $1.16 billion, a PE ratio of 379.00 and a beta of 2.13.

Omada Health (NASDAQ:OMDA) last released 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 firm had revenue of $91.31 million during the quarter. Equities analysts forecast that Omada Health will post 0.09 earnings per share for the current year.

Insider Buying and Selling at Omada Health

In other Omada Health news, CFO Steven Cook sold 15,235 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $25.03, for a total transaction of $381,332.05. Following the transaction, the chief financial officer owned 187,209 shares in the company, valued at $4,685,841.27. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Wei-Li Shao sold 8,866 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $25.02, for a total value of $221,827.32. Following the transaction, the president owned 307,372 shares in the company, valued at $7,690,447.44. The trade was a 2.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 106,070 shares of company stock valued at $2,462,621 in the last ninety 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 business. BlackRock Inc. bought a new stake in shares of Omada Health in the second quarter valued at approximately $48,775,000. Jefferies Financial Group Inc. acquired a new stake in Omada Health during the second quarter worth approximately $15,016,000. Madryn Asset Management LP acquired a new stake in Omada Health during the second quarter worth approximately $12,814,410. Walleye Capital LLC bought a new position in Omada Health during the 2nd quarter worth $11,648,000. Finally, Bank of America Corp DE acquired a new position in Omada Health in the 2nd quarter valued at $6,880,000.

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.