Omada Health (NASDAQ:OMDA) Shares Down 5.8% – Should You Sell?

Omada Health, Inc. (NASDAQ:OMDA) traded down 5.8% during mid-day trading on Tuesday. The stock traded as low as $20.76 and last traded at $20.6050. 64,557 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,261,191 shares. The stock had previously closed at $21.87.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Weiss Ratings lowered Omada Health from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Robert W. Baird raised their price target on Omada Health from $15.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, August 12th. BMO Capital Markets reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Omada Health in a research report on Friday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Omada Health from $26.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Finally, Barclays increased their price target on shares of Omada Health from $25.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.67.

Omada Health Trading Down 0.4%

The firm has a market capitalization of $1.12 billion, a PE ratio of 228.75 and a beta of 2.03. The stock’s 50 day moving average price is $21.87 and its two-hundred day moving average price is $19.06.

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

Insider Buying and Selling

In other news, CFO Steven L. Cook sold 15,235 shares of Omada Health stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $25.03, for a total value of $381,332.05. Following the transaction, the chief financial officer directly owned 187,209 shares of the company’s stock, valued at $4,685,841.27. The trade was a 7.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sean P. Duffy sold 21,572 shares of Omada Health stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $23.62, for a total transaction of $509,530.64. Following the transaction, the chief executive officer directly owned 411,861 shares in the company, valued at approximately $9,728,156.82. This trade represents a 4.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 127,642 shares of company stock valued at $2,915,201. Insiders own 6.38% of the company’s stock.

Institutional Investors Weigh In On Omada Health

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