Omada Health (NASDAQ:OMDA) Trading Down 4.5% – Time to Sell?

Shares of Omada Health, Inc. (NASDAQ:OMDA) dropped 4.5% on Wednesday . The company traded as low as $17.47 and last traded at $17.50. Approximately 63,212 shares were traded during trading, a decline of 95% from the average daily volume of 1,212,802 shares. The stock had previously closed at $18.32.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on OMDA shares. Needham & Company LLC reissued a “buy” rating and issued a $28.00 price target on shares of Omada Health in a report on Friday, May 8th. Canaccord Genuity Group set a $24.00 price target on shares of Omada Health in a report on Friday, May 8th. Wall Street Zen lowered shares of Omada Health from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Morgan Stanley lowered their price target on shares of Omada Health from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, March 6th. Finally, Citigroup reissued an “outperform” rating on shares of Omada Health in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.91.

Omada Health Trading Down 5.4%

The business’s fifty day simple moving average is $15.06 and its 200 day simple moving average is $14.83. The stock has a market cap of $1.03 billion and a price-to-earnings ratio of -64.27.

Omada Health (NASDAQ:OMDA) last released its earnings results on Thursday, May 7th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter. As a group, research analysts anticipate that Omada Health, Inc. will post -0.01 earnings per share for the current year.

Insider Buying and Selling at Omada Health

In other news, CFO Steven L. Cook sold 1,884 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $13.94, for a total value of $26,262.96. Following the completion of the transaction, the chief financial officer owned 200,512 shares of the company’s stock, valued at $2,795,137.28. The trade was a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Wei-Li Shao sold 2,829 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $12.71, for a total transaction of $35,956.59. Following the completion of the transaction, the president directly owned 328,850 shares of the company’s stock, valued at $4,179,683.50. This trade represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.38% of the stock is owned by insiders.

Institutional Investors Weigh In On Omada Health

Several institutional investors have recently added to or reduced their stakes in the stock. BIT Capital GmbH bought a new stake in shares of Omada Health in the 3rd quarter valued at about $13,639,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Omada Health during the fourth quarter worth approximately $1,222,000. Divisadero Street Capital Management LP bought a new position in shares of Omada Health during the third quarter worth approximately $30,510,000. a16z Perennial Management L.P. bought a new position in shares of Omada Health during the fourth quarter worth approximately $2,480,000. Finally, Madryn Asset Management LP bought a new position in Omada Health in the fourth quarter valued at approximately $9,212,000.

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.