Omada Health (NASDAQ:OMDA) Trading Down 4.7% – What’s Next?

Omada Health, Inc. (NASDAQ:OMDA)’s stock price fell 4.7% on Wednesday . The stock traded as low as $12.80 and last traded at $12.77. 244,611 shares changed hands during trading, a decline of 83% from the average session volume of 1,409,304 shares. The stock had previously closed at $13.40.

Analysts Set New Price Targets

OMDA has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Omada Health in a research note on Thursday, January 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Omada Health from $32.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday, March 12th. The Goldman Sachs Group restated a “buy” rating and set a $26.00 target price on shares of Omada Health in a research report on Friday, January 16th. Wells Fargo & Company started coverage on Omada Health in a research note on Thursday, January 8th. They set an “equal weight” rating and a $17.00 price target for the company. Finally, Barclays reduced their price target on Omada Health from $22.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Eight investment 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.60.

Omada Health Stock Up 1.7%

The company has a market capitalization of $776.57 million and a PE ratio of -77.53. The firm has a 50-day moving average of $13.52 and a two-hundred day moving average of $17.84.

Omada Health (NASDAQ:OMDA) last issued its quarterly earnings data on Thursday, March 5th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.12. The firm had revenue of $75.85 million for the quarter.

Insider Transactions at Omada Health

In related news, CFO Steven L. Cook sold 1,884 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $13.94, for a total transaction of $26,262.96. Following the completion of the sale, the chief financial officer owned 200,512 shares of the company’s stock, valued at approximately $2,795,137.28. This represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Wei-Li Shao sold 5,618 shares of the business’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $16.13, for a total value of $90,618.34. Following the transaction, the president directly owned 69,079 shares in the company, valued at $1,114,244.27. This trade represents a 7.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 282,840 shares of company stock valued at $4,421,313.

Institutional Investors Weigh In On Omada Health

Several institutional investors have recently added to or reduced their stakes in the business. Cigna Investments Inc. New purchased a new stake in shares of Omada Health during the 3rd quarter worth approximately $76,161,000. Perceptive Advisors LLC purchased a new position in shares of Omada Health during the second quarter worth about $44,402,000. Millennium Management LLC increased its position in shares of Omada Health by 1,195.0% during the fourth quarter. Millennium Management LLC now owns 2,272,168 shares of the company’s stock worth $35,855,000 after purchasing an additional 2,096,705 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Omada Health by 23.0% during the fourth quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock worth $29,283,000 after buying an additional 346,588 shares during the last quarter. Finally, Divisadero Street Capital Management LP purchased a new position in shares of Omada Health in the 3rd quarter valued at approximately $30,510,000.

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.