Omada Health (NASDAQ:OMDA) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of Omada Health (NASDAQ:OMDA) from a buy rating to a hold rating in a report issued on Saturday.

Several other analysts also recently issued reports on OMDA. Citizens Jmp boosted their price objective on Omada Health from $18.00 to $21.00 and gave the stock a “market outperform” rating in a report on Friday, May 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. Wells Fargo & Company boosted their price target on shares of Omada Health from $17.00 to $18.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Canaccord Genuity Group set a $24.00 price target on shares of Omada Health in a research report on Friday, May 8th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Omada Health in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

Omada Health Stock Performance

Shares of NASDAQ:OMDA opened at $23.70 on Friday. The company has a market capitalization of $1.41 billion and a PE ratio of -87.78. The stock has a fifty day moving average of $19.01 and a 200-day moving average of $15.66. Omada Health has a one year low of $10.28 and a one year high of $26.92.

Omada Health (NASDAQ:OMDA) last issued its earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%.The business had revenue of $78.05 million for the quarter. As a group, research analysts forecast that Omada Health will post -0.01 EPS for the current fiscal year.

Insider Activity

In other news, CFO Steven L. Cook sold 33,000 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $19.89, for a total value of $656,370.00. Following the completion of the sale, the chief financial officer directly owned 133,359 shares of the company’s stock, valued at $2,652,510.51. This represents a 19.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sean P. Duffy sold 25,886 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total transaction of $587,094.48. Following the transaction, the chief executive officer directly owned 411,861 shares in the company, valued at $9,341,007.48. The trade was a 5.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 193,462 shares of company stock worth $3,927,425 in the last 90 days. Company insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Omada Health

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC purchased a new stake in shares of Omada Health during the second quarter worth $637,000. Walleye Capital LLC acquired a new stake in shares of Omada Health during the 2nd quarter valued at about $458,000. Ilex Capital Partners UK LLP bought a new stake in shares of Omada Health in the 2nd quarter valued at approximately $201,000. Soros Fund Management LLC bought a new stake in shares of Omada Health in the 2nd quarter valued at approximately $640,000. Finally, Raymond James Financial Inc. acquired a new position in Omada Health in the second quarter worth approximately $32,000.

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.