Omada Health (NASDAQ:OMDA) Upgraded at Zacks Research

Zacks Research upgraded shares of Omada Health (NASDAQ:OMDA) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks reports.

Several other research firms have also recently commented on OMDA. Citigroup restated an “outperform” rating on shares of Omada Health in a report on Friday, August 14th. Wall Street Zen lowered shares of Omada Health from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Robert W. Baird increased their target price on shares of Omada Health from $15.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of Omada Health from $26.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Finally, Weiss Ratings raised shares of Omada Health from a “sell (e+)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $26.67.

Omada Health Stock Down 0.3%

Shares of NASDAQ:OMDA opened at $20.82 on Tuesday. The company’s fifty day moving average is $21.86 and its two-hundred day moving average is $18.87. Omada Health has a 12-month low of $10.28 and a 12-month high of $26.92. The company has a market cap of $1.27 billion, a P/E ratio of 416.40 and a beta of 2.03.

Omada Health (NASDAQ:OMDA) last released its earnings results on Thursday, August 6th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.10. The company had revenue of $87.83 million for the quarter, compared to analysts’ expectations of $80.93 million. Omada Health had a return on equity of 2.60% and a net margin of 1.39%. Equities research analysts anticipate that Omada Health will post 0.09 earnings per share for the current year.

Insider Transactions at Omada Health

In related news, CAO Craig Gracey sold 1,042 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $25.00, for a total transaction of $26,050.00. Following the transaction, the chief accounting officer owned 15,441 shares of the company’s stock, valued at approximately $386,025. This trade represents a 6.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven L. Cook sold 6,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $21.86, for a total transaction of $148,648.00. Following the transaction, the chief financial officer directly owned 173,906 shares in the company, valued at approximately $3,801,585.16. The trade was a 3.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 127,642 shares of company stock valued at $2,915,201 in the last quarter. Corporate insiders own 6.38% of the company’s stock.

Institutional Trading of Omada Health

Several large investors have recently added to or reduced their stakes in the business. WINTON GROUP Ltd acquired a new position in shares of Omada Health during the 2nd quarter worth $1,101,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Omada Health in the 2nd quarter valued at $53,000. Squarepoint Ops LLC acquired a new stake in shares of Omada Health in the 2nd quarter valued at $2,044,000. Corient Private Wealth LP boosted its holdings in Omada Health by 252.5% in the second quarter. Corient Private Wealth LP now owns 145,118 shares of the company’s stock worth $3,185,000 after purchasing an additional 103,955 shares in the last quarter. Finally, Round Rock Advisors LLC bought a new stake in Omada Health in the second quarter worth $745,000.

Omada Health Company Profile

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.