Omada Health, Inc. (NASDAQ:OMDA – Get Free Report) traded down 4.5% on Wednesday . The company traded as low as $17.47 and last traded at $17.50. 63,212 shares traded hands during trading, a decline of 95% from the average session volume of 1,212,802 shares. The stock had previously closed at $18.32.
Wall Street Analysts Forecast Growth
OMDA has been the subject of a number of analyst reports. Barclays raised their price objective on Omada Health from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. BMO Capital Markets dropped their target price on shares of Omada Health from $27.00 to $18.00 and set an “outperform” rating on the stock in a report on Friday, March 6th. The Goldman Sachs Group restated a “buy” rating on shares of Omada Health in a report on Friday, May 8th. Evercore restated an “outperform” rating and issued a $20.00 target price on shares of Omada Health in a report on Friday, May 8th. Finally, Citigroup restated an “outperform” rating on shares of Omada Health in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given 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 $22.91.
View Our Latest Research Report on Omada Health
Omada Health Stock Down 5.4%
Omada Health (NASDAQ:OMDA – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. Omada Health had a negative net margin of 2.22% and a negative return on equity of 1.82%. The firm had revenue of $78.05 million for the quarter. As a group, equities research analysts expect that Omada Health, Inc. will post -0.01 earnings per share for the current year.
Insider Activity
In related news, CFO Steven L. Cook sold 1,884 shares of the company’s stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $13.94, for a total value of $26,262.96. Following the sale, the chief financial officer owned 200,512 shares in the company, valued at $2,795,137.28. This represents a 0.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Wei-Li Shao sold 2,829 shares of the company’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $12.71, for a total transaction of $35,956.59. Following the completion of the sale, the president owned 328,850 shares in the company, valued at $4,179,683.50. This represents a 0.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.38% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Omada Health
Institutional investors have recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in Omada Health in the second quarter worth $32,000. Bellevue Group AG increased its position in Omada Health by 0.7% in the third quarter. Bellevue Group AG now owns 251,791 shares of the company’s stock worth $5,567,000 after buying an additional 1,791 shares during the last quarter. Quarry LP purchased a new stake in Omada Health in the fourth quarter worth $29,000. Barclays PLC increased its position in Omada Health by 14.6% in the fourth quarter. Barclays PLC now owns 14,850 shares of the company’s stock worth $234,000 after buying an additional 1,888 shares during the last quarter. Finally, TD Waterhouse Canada Inc. purchased a new stake in Omada Health in the fourth quarter worth $32,000.
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.
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