Omada Health (NASDAQ:OMDA) Shares Down 5% After Insider Selling

Omada Health, Inc. (NASDAQ:OMDA)’s stock price dropped 5% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $21.80 and last traded at $22.1370. Approximately 106,820 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 1,244,260 shares. The stock had previously closed at $23.31.

Specifically, CEO Sean Duffy sold 21,572 shares of Omada Health stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $23.62, for a total transaction of $509,530.64. Following the sale, the chief executive officer owned 411,861 shares of the company’s stock, valued at approximately $9,728,156.82. This trade represents a 4.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Cook sold 1,108 shares of the company’s stock in a transaction 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 transaction, the chief financial officer owned 187,209 shares of the company’s stock, valued at $4,680,225. The trade was a 0.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analyst Upgrades and Downgrades

OMDA has been the topic of a number of recent research reports. BMO Capital Markets reiterated an “outperform” rating and set a $24.00 price target on shares of Omada Health in a research note on Friday, August 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of Omada Health in a report on Friday, May 8th. BTIG Research upped their target price on shares of Omada Health from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Citigroup reissued an “outperform” rating on shares of Omada Health in a research report on Friday, August 14th. Finally, Weiss Ratings upgraded shares of Omada Health from a “sell (e+)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.50.

Omada Health Trading Up 2.2%

The firm has a market cap of $1.39 billion, a P/E ratio of 455.40 and a beta of 1.86. The company’s fifty day moving average price is $22.70 and its two-hundred day moving average price is $17.58.

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

Institutional Investors Weigh In On Omada Health

A number of large investors have recently bought and sold shares of OMDA. Quarry LP bought a new position in Omada Health in the 4th quarter valued at $29,000. Raymond James Financial Inc. acquired a new position in Omada Health in the second quarter worth $32,000. Versant Capital Management Inc grew its holdings in shares of Omada Health by 319.3% during the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock worth $66,000 after purchasing an additional 2,283 shares during the last quarter. Strs Ohio increased its stake in shares of Omada Health by 151.0% in the fourth quarter. Strs Ohio now owns 4,267 shares of the company’s stock valued at $67,000 after buying an additional 2,567 shares in the last quarter. Finally, New York State Common Retirement Fund bought a new position in shares of Omada Health in the fourth quarter valued at about $73,000.

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.