Omada Health (NASDAQ:OMDA) Trading Down 6.7% – Here’s What Happened

Omada Health, Inc. (NASDAQ:OMDA) shares fell 6.7% during trading on Thursday . The stock traded as low as $12.05 and last traded at $11.77. 38,085 shares were traded during mid-day trading, a decline of 97% from the average session volume of 1,356,677 shares. The stock had previously closed at $12.61.

Wall Street Analyst Weigh In

OMDA has been the topic of several research analyst reports. Canaccord Genuity Group decreased their price objective on shares of Omada Health from $28.00 to $22.00 and set a “buy” rating for the company in a report on Friday, March 6th. Barclays lowered their price objective on shares of Omada Health from $22.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Wall Street Zen upgraded Omada Health from a “hold” rating to a “buy” rating in a research note on Saturday, March 14th. Wells Fargo & Company started coverage on Omada Health in a research report on Thursday, January 8th. They set an “equal weight” rating and a $17.00 price target on the stock. Finally, Morgan Stanley lowered their price objective on Omada Health from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Friday, March 6th. Eight research 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.com, Omada Health currently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

Omada Health Stock Performance

The stock has a market cap of $743.10 million and a P/E ratio of -74.32. The business has a 50 day simple moving average of $13.23 and a 200-day simple moving average of $17.52.

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

Insider Buying and Selling at Omada Health

In other Omada Health news, CEO Sean P. Duffy sold 230,479 shares of the firm’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $15.60, for a total value of $3,595,472.40. Following the completion of the sale, the chief executive officer directly owned 126,644 shares of the company’s stock, valued at $1,975,646.40. This trade represents a 64.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven L. Cook sold 1,884 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $13.94, for a total value of $26,262.96. Following the completion of the sale, the chief financial officer owned 200,512 shares in the company, valued at approximately $2,795,137.28. The trade was a 0.93% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 277,222 shares of company stock valued at $4,330,695.

Institutional Investors Weigh In On Omada Health

A number of hedge funds and other institutional investors have recently bought and sold shares of OMDA. Quarry LP purchased a new position in shares of Omada Health in the fourth quarter valued at $29,000. TD Waterhouse Canada Inc. bought a new stake in shares of Omada Health during the fourth quarter valued at about $32,000. Raymond James Financial Inc. bought a new position in shares of Omada Health in the second quarter valued at approximately $32,000. Strs Ohio purchased a new position in Omada Health during the third quarter valued at approximately $38,000. Finally, Inlight Wealth Management LLC purchased a new position in Omada Health during the fourth quarter valued at approximately $45,000.

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.