Omada Health (NASDAQ:OMDA) Trading Down 5.1% - What's Next?
Omada Health (NASDAQ:OMDA) shares fell 5.1% on Monday, trading as low as $16.47. The stock's trading volume was down 40% from the average. Analysts have mixed ratings: Weiss Ratings suggests a "sell," while others like Barclays and BMO Capital Markets have "overweight" and "buy" ratings, respectively. The consensus target price is $26.33. Institutional investors have recently acquired stakes in the company. Despite a Moderate Buy rating, some analysts suggest better investment opportunities elsewhere.
Omada Health, Inc. (NASDAQ:OMDA - Get Free Report) shares fell 5.1% during trading on Monday . The stock traded as low as $16.47 and last traded at $16.59. 385,209 shares traded hands during mid-day trading, a decline of 40% from the average session volume of 642,158 shares. The stock had previously closed at $17.49.
Wall Street Analyst Weigh In
Several research firms have commented on OMDA. Weiss Ratings restated a "sell (d)" rating on shares of Omada Health in a research note on Wednesday, October 8th. Baird R W upgraded Omada Health to a "hold" rating in a research note on Friday, September 5th. Barclays raised their target price on shares of Omada Health from $28.00 to $29.00 and gave the company an "overweight" rating in a report on Friday, November 7th. BMO Capital Markets began coverage on Omada Health in a report on Thursday, November 13th. They issued an "outperform" rating and a $27.00 target price on the stock. Finally, Needham & Company LLC increased their price target on Omada Health from $26.00 to $28.00 and gave the company a "buy" rating in a research note on Friday, November 7th. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $26.33.
Get Our Latest Stock Analysis on Omada Health
Omada Health Stock Performance
The stock's 50 day moving average is $22.02.
Institutional Investors Weigh In On Omada Health
Several hedge funds have recently made changes to their positions in the company. Cigna Investments Inc. New purchased a new stake in shares of Omada Health in the third quarter worth $76,161,000. Perceptive Advisors LLC bought a new stake in shares of Omada Health during the 2nd quarter valued at $44,402,000. Divisadero Street Capital Management LP purchased a new position in Omada Health during the third quarter valued at $30,510,000. Loomis Sayles & Co. L P bought a new stake in Omada Health in the 2nd quarter worth approximately $19,948,000. Finally, BIT Capital GmbH bought a new position in shares of Omada Health in the 3rd quarter valued at about $13,639,000.
About Omada Health
(Get Free Report)Omada's mission is to bend the curve. Our hope is that, one day, tomorrow's epidemiologists will notice a bend in disease curves, wonder what might be happening, and conclude that part of that impact has been Omada. As part of that mission, we strive to inspire and enable people to make lasting health changes on their own terms.
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