Omada Health (NASDAQ:OMDA) Stock Price Up 5.3% – What’s Next?

Shares of Omada Health, Inc. (NASDAQ:OMDA) were up 5.3% during trading on Thursday . The company traded as high as $22.19 and last traded at $22.6290. 64,744 shares were traded during mid-day trading, a decline of 95% from the average daily volume of 1,243,073 shares. The stock had previously closed at $21.50.

Key Stories Impacting Omada Health

Here are the key news stories impacting Omada Health this week:

• Positive Sentiment: Analyst support remains strong: BTIG Research reaffirmed its “buy” rating and set a $35 price target, while Needham & Company also maintained a “buy” rating with a $28 target. These targets imply significant potential upside and reinforce confidence in Omada’s growth outlook.
• Positive Sentiment: Investor Day could provide new growth targets: Omada held its inaugural Investor Day and planned to present updated long-term financial targets. More ambitious revenue, profitability, or membership goals could improve investor confidence if management’s outlook exceeds current expectations. Omada Health to Present Updated Long-Term Financial Targets at Inaugural Investor Day
• Neutral Sentiment: Investor Day transcript available: The transcript may offer additional detail on Omada’s strategy and financial targets, but the supplied report does not identify specific changes that would immediately alter earnings expectations. Omada Health Analyst/Investor Day Transcript
• Negative Sentiment: Chief accounting officer sold shares: CAO Craig Gracey sold 644 shares for approximately $14,000, reducing his direct ownership by 4.28%. The relatively small transaction is not necessarily a sign of deteriorating fundamentals, but insider selling can create short-term negative sentiment. SEC Insider Transaction Filing

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OMDA. Barclays increased their price target on Omada Health from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday. Citizens Jmp boosted their price objective on Omada Health from $27.00 to $32.00 and gave the company a “market outperform” rating in a research report on Friday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Omada Health in a research report on Monday, June 22nd. Citigroup reiterated an “outperform” rating on shares of Omada Health in a research note on Friday, August 14th. Finally, Canaccord Genuity Group boosted their price target on shares of Omada Health from $24.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. 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 stock. According to data from MarketBeat.com, Omada Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.67.

Omada Health Stock Down 8.6%

The stock has a market capitalization of $1.20 billion, a P/E ratio of 393.20 and a beta of 1.86. The firm’s 50-day simple moving average is $22.63 and its 200 day simple moving average is $17.92.

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

Insider Buying and Selling at Omada Health

In other Omada Health news, CEO Sean Duffy sold 21,572 shares of Omada Health stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $23.62, for a total value of $509,530.64. Following the transaction, the chief executive officer owned 411,861 shares in the company, valued at approximately $9,728,156.82. The trade was a 4.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 directly owned 187,209 shares in the company, valued at $4,680,225. This represents a 0.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 266,567 shares of company stock valued at $5,722,513. 6.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Omada Health

Several hedge funds have recently modified their holdings of OMDA. Raymond James Financial Inc. purchased a new position in Omada Health in the 2nd quarter worth about $32,000. Quarry LP purchased a new stake in Omada Health during the fourth quarter valued at about $29,000. Integrated Wealth Concepts LLC purchased a new stake in Omada Health during the second quarter valued at about $53,000. Versant Capital Management Inc boosted its holdings in shares of Omada Health by 319.3% in the second quarter. Versant Capital Management Inc now owns 2,998 shares of the company’s stock worth $66,000 after buying an additional 2,283 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of Omada Health in the second quarter worth approximately $76,000.

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.