Citizens Jmp Forecasts Strong Price Appreciation for Omada Health (NASDAQ:OMDA) Stock

Omada Health (NASDAQ:OMDA) had its price target raised by stock analysts at Citizens Jmp from $21.00 to $27.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp’s price objective indicates a potential upside of 13.79% from the stock’s current price.

OMDA has been the topic of several other research reports. Citigroup reaffirmed an “outperform” rating on shares of Omada Health in a research report on Monday. Barclays boosted their price objective on Omada Health from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Morgan Stanley reissued an “overweight” rating and issued a $30.00 target price on shares of Omada Health in a report on Monday, June 22nd. Wells Fargo & Company lifted 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. Finally, Wall Street Zen downgraded Omada Health from a “buy” rating to a “hold” rating in a report on Saturday. Eleven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.00.

Omada Health Stock Performance

NASDAQ:OMDA traded up $0.03 during mid-day trading on Monday, reaching $23.73. 37,831 shares of the company’s stock were exchanged, compared to its average volume of 1,206,836. The firm has a market capitalization of $1.41 billion and a PE ratio of -87.43. The business’s fifty day simple moving average is $19.01 and its two-hundred day simple moving average is $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 posted its earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $78.05 million for the quarter. Omada Health had a negative net margin of 2.22% and a negative return on equity of 1.82%. As a group, equities research analysts forecast that Omada Health will post -0.01 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sean P. Duffy sold 25,886 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $22.68, for a total transaction of $587,094.48. Following the completion of the sale, the chief executive officer owned 411,861 shares in the company, valued at approximately $9,341,007.48. This trade represents a 5.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Craig Gracey sold 6,894 shares of Omada Health stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $17.42, for a total value of $120,093.48. Following the completion of the transaction, the chief accounting officer owned 9,191 shares in the company, valued at $160,107.22. This trade represents a 42.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 193,462 shares of company stock valued at $3,927,425. 6.38% of the stock is owned by insiders.

Institutional Trading of Omada Health

Hedge funds and other institutional investors have recently modified their holdings of the business. Versant Capital Management Inc raised its holdings in shares of Omada Health by 319.3% during the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock valued at $66,000 after acquiring an additional 2,283 shares during the period. Bank of America Corp DE boosted its stake in Omada Health by 51.5% in the 1st quarter. Bank of America Corp DE now owns 161,099 shares of the company’s stock worth $2,025,000 after purchasing an additional 54,792 shares during the period. Stoic Point Capital Management LLC bought a new stake in Omada Health in the 1st quarter valued at $1,830,000. Quantinno Capital Management LP raised its holdings in Omada Health by 464.1% in the 1st quarter. Quantinno Capital Management LP now owns 58,723 shares of the company’s stock valued at $738,000 after acquiring an additional 48,313 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in Omada Health in the first quarter valued at approximately $194,000.

About Omada Health

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.