Omada Health (NASDAQ:OMDA) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Omada Health (NASDAQ:OMDA) had its price objective boosted by equities researchers at Canaccord Genuity Group from $24.00 to $28.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 17.20% from the stock’s previous close.

Several other brokerages have also weighed in on OMDA. Citigroup reaffirmed an “outperform” rating on shares of Omada Health in a research report on Monday. The Goldman Sachs Group restated a “buy” rating on shares of Omada Health in a report on Friday, May 8th. Morgan Stanley reiterated an “overweight” rating and issued a $30.00 price objective on shares of Omada Health in a report on Monday, June 22nd. Barclays raised their target price on Omada Health from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, BTIG Research initiated coverage on Omada Health in a report on Friday. They set a “buy” rating and a $30.00 price objective on the stock. Eleven equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.33.

Omada Health Price Performance

Shares of NASDAQ OMDA opened at $23.89 on Tuesday. The business’s 50-day moving average price is $19.19 and its two-hundred day moving average price is $15.72. Omada Health has a one year low of $10.28 and a one year high of $26.92. The company has a market capitalization of $1.42 billion and a P/E ratio of -88.48.

Omada Health (NASDAQ:OMDA) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The company had revenue of $78.05 million during the quarter. Omada Health had a negative return on equity of 1.82% and a negative net margin of 2.22%. On average, equities analysts anticipate that Omada Health will post -0.01 EPS for the current year.

Insider Buying and Selling at Omada Health

In related news, CFO Steven L. Cook sold 12,337 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $23.09, for a total transaction of $284,861.33. Following the completion of the transaction, the chief financial officer owned 187,209 shares of the company’s stock, valued at approximately $4,322,655.81. The trade was a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sean P. Duffy sold 25,886 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $22.68, for a total value of $587,094.48. Following the sale, the chief executive officer owned 411,861 shares of the company’s stock, valued at approximately $9,341,007.48. The trade was a 5.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 193,462 shares of company stock worth $3,927,425 over the last ninety days. Company insiders own 6.38% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Perceptive Advisors LLC bought a new stake in shares of Omada Health in the second quarter valued at approximately $44,402,000. Millennium Management LLC raised its stake 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 valued at $35,855,000 after purchasing an additional 2,096,705 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Omada Health by 23.0% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,855,721 shares of the company’s stock valued at $29,283,000 after purchasing an additional 346,588 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Omada Health in the 4th quarter valued at $16,948,000. Finally, BIT Capital GmbH grew its position in Omada Health by 52.4% in the 4th quarter. BIT Capital GmbH now owns 940,238 shares of the company’s stock worth $14,837,000 after purchasing an additional 323,365 shares during the last quarter.

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.