Omada Health (NASDAQ:OMDA) Trading Down 5% – Should You Sell?

Omada Health, Inc. (NASDAQ:OMDA) shares were down 5% during mid-day trading on Thursday . The stock traded as low as $21.80 and last traded at $22.1370. 106,820 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 1,244,260 shares. The stock had previously closed at $23.31.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on OMDA shares. The Goldman Sachs Group reissued a “buy” rating on shares of Omada Health in a research report on Friday, May 8th. Canaccord Genuity Group upped their target price on shares of Omada Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Barclays increased their target price on Omada Health from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Citizens Jmp boosted their price target on Omada Health from $27.00 to $32.00 and gave the company a “market outperform” rating in a report on Friday, August 14th. Finally, Weiss Ratings raised Omada Health from a “sell (e+)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Eleven analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Omada Health Stock Performance

The firm has a fifty day moving average price of $22.59 and a 200 day moving average price of $17.46. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 438.90 and a beta of 1.86.

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

Insider Buying and Selling at Omada Health

In other Omada Health news, CEO Sean P. Duffy sold 12,942 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $24.81, for a total value of $321,091.02. Following the completion of the sale, the chief executive officer owned 411,861 shares of the company’s stock, valued at $10,218,271.41. The trade was a 3.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Steven L. Cook sold 1,108 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $25.00, for a total value of $27,700.00. Following the completion of the sale, the chief financial officer owned 187,209 shares of the company’s stock, valued at approximately $4,680,225. This trade represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 255,834 shares of company stock worth $5,398,196. Insiders own 6.38% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Perceptive Advisors LLC acquired a new position in shares of Omada Health during the second quarter worth $44,402,000. BlackRock Inc. acquired a new stake in Omada Health during the 2nd quarter valued at approximately $48,775,000. Millennium Management LLC raised its holdings in Omada Health by 1,195.0% during the 4th 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 during the last quarter. Jefferies Financial Group Inc. bought a new position in Omada Health during the 4th quarter worth approximately $16,948,000. Finally, SG Americas Securities LLC acquired a new position in shares of Omada Health in the 1st quarter worth approximately $10,401,000.

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.