Barclays initiated coverage of Omada Health (OMDA) with an Overweight rating and $21 price target. Omada’s digital health solution is addressing a large market given the prevalence of prediabetes, diabetes, hypertension and musculoskeletal issues, says the analyst, who thinks the company’s GLP-1 Care Track offerings could be an accelerant to adoption. The firm thinks Omada is gaining share in this cardiometabolic market, particularly from Teladoc’s (TDOC) Livongo, the analyst added.
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