Omada Health (NASDAQ:OMDA) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Omada Health (NASDAQ:OMDA) from a buy rating to a hold rating in a report published on Saturday,Wall Street Zen reports.

Several other research firms have also recently issued reports on OMDA. Barclays raised their price target on Omada Health from $25.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, September 11th. Citizens Jmp upped their target price on shares of Omada Health from $27.00 to $32.00 and gave the company a “market outperform” rating in a research report on Friday, August 14th. BTIG Research reaffirmed a “buy” rating and issued a $35.00 target price on shares of Omada Health in a research note on Friday, September 11th. Morgan Stanley reiterated an “overweight” rating and set a $30.00 price target on shares of Omada Health in a research report on Monday, June 22nd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $24.00 price target on shares of Omada Health in a research note on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Omada Health has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Omada Health Stock Performance

NASDAQ:OMDA opened at $20.95 on Friday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 419.00 and a beta of 2.03. The stock’s fifty day moving average price is $21.80 and its two-hundred day moving average price is $18.73. Omada Health has a 52-week low of $10.28 and a 52-week high of $26.92.

Omada Health (NASDAQ:OMDA) last released its earnings results on Thursday, August 6th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.10. The company had revenue of $87.83 million during the quarter, compared to analysts’ expectations of $80.93 million. Omada Health had a return on equity of 2.60% and a net margin of 1.39%. On average, equities analysts predict that Omada Health will post 0.09 EPS for the current fiscal year.

Insider Activity

In related news, CFO Steven L. Cook sold 6,800 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $21.86, for a total value of $148,648.00. Following the completion of the sale, the chief financial officer owned 173,906 shares in the company, valued at $3,801,585.16. This represents a 3.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Wei-Li Shao sold 4,036 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $21.85, for a total value of $88,186.60. Following the sale, the president directly owned 295,313 shares in the company, valued at $6,452,589.05. The trade was a 1.35% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 127,642 shares of company stock valued at $2,915,201. 6.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Omada Health during the 2nd quarter valued at about $48,775,000. SG Americas Securities LLC bought a new stake in Omada Health during the 1st quarter worth approximately $10,401,000. Jefferies Financial Group Inc. acquired a new stake in Omada Health during the 2nd quarter worth approximately $15,016,000. Madryn Asset Management LP bought a new position in Omada Health in the second quarter valued at approximately $12,814,410. Finally, Walleye Capital LLC acquired a new position in shares of Omada Health in the second quarter valued at approximately $11,648,000.

About Omada Health

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.