American Well Corporation (NYSE:AMWL) Receives $7.58 Consensus Price Target from Analysts

Shares of American Well Corporation (NYSE:AMWL) have earned a consensus rating of “Hold” from the eight ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.5833.

A number of equities analysts have issued reports on AMWL shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of American Well in a research report on Wednesday, October 8th. Morgan Stanley reduced their target price on American Well from $10.50 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, December 18th. Wall Street Zen cut shares of American Well from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Wells Fargo & Company cut their price target on shares of American Well from $12.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. Finally, Stifel Nicolaus decreased their price objective on shares of American Well from $8.00 to $6.00 and set a “hold” rating on the stock in a report on Wednesday, November 5th.

American Well Price Performance

NYSE:AMWL opened at $5.21 on Monday. The company has a 50 day moving average price of $4.42 and a 200-day moving average price of $6.09. American Well has a 1-year low of $3.71 and a 1-year high of $12.95. The firm has a market cap of $85.21 million, a price-to-earnings ratio of -0.72 and a beta of 1.26.

American Well (NYSE:AMWL) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($1.74) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.83) by $0.09. The company had revenue of $56.29 million during the quarter, compared to analysts’ expectations of $54.56 million. American Well had a negative net margin of 42.80% and a negative return on equity of 39.80%. On average, sell-side analysts anticipate that American Well will post -9.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other American Well news, insider Dmitry Zamansky sold 6,243 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total transaction of $30,278.55. Following the completion of the sale, the insider directly owned 191,468 shares in the company, valued at approximately $928,619.80. The trade was a 3.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 14,633 shares of company stock worth $67,972. 12.80% of the stock is currently owned by insiders.

Institutional Trading of American Well

Large investors have recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in American Well in the 2nd quarter valued at $39,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of American Well in the third quarter worth about $62,000. Prelude Capital Management LLC purchased a new position in shares of American Well in the third quarter worth about $86,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in American Well during the second quarter worth about $89,000. Finally, Engineers Gate Manager LP purchased a new stake in American Well during the 2nd quarter valued at about $101,000. 56.05% of the stock is currently owned by hedge funds and other institutional investors.

About American Well

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.