American Well Corporation (NYSE:AMWL) Receives Average Rating of “Hold” from Analysts

Shares of American Well Corporation (NYSE:AMWL) have been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $9.50.

Several equities research analysts have recently issued reports on AMWL shares. Morgan Stanley raised their price objective on shares of American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Wells Fargo & Company upped their price target on American Well from $9.00 to $16.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Well in a research report on Friday, July 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a report on Wednesday, August 5th. Finally, TD Cowen lifted their price objective on American Well from $5.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, May 6th.

Insider Activity at American Well

In other American Well news, Director Stephen J. Schlegel sold 9,750 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $8.76, for a total transaction of $85,410.00. Following the sale, the director directly owned 54,553 shares of the company’s stock, valued at approximately $477,884.28. This represents a 15.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Phyllis Gotlib sold 6,677 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total value of $62,296.41. Following the completion of the transaction, the insider directly owned 152,754 shares in the company, valued at $1,425,194.82. The trade was a 4.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 29,225 shares of company stock valued at $268,623 in the last ninety days. Insiders own 12.84% of the company’s stock.

Institutional Investors Weigh In On American Well

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMWL. Senvest Management LLC grew its stake in shares of American Well by 213.3% during the first quarter. Senvest Management LLC now owns 1,136,558 shares of the company’s stock valued at $5,978,000 after purchasing an additional 773,834 shares during the last quarter. Vanguard Group Inc. raised its position in shares of American Well by 2.5% during the third quarter. Vanguard Group Inc. now owns 650,102 shares of the company’s stock worth $3,998,000 after acquiring an additional 15,797 shares during the last quarter. Geode Capital Management LLC raised its holdings in American Well by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 152,742 shares of the company’s stock worth $750,000 after purchasing an additional 3,450 shares during the last quarter. Squarepoint Ops LLC lifted its position in American Well by 74.5% during the 4th quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock valued at $565,000 after purchasing an additional 49,135 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in American Well by 36.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 97,382 shares of the company’s stock valued at $599,000 after purchasing an additional 25,798 shares during the period. Institutional investors and hedge funds own 56.05% of the company’s stock.

American Well Trading Down 1.3%

Shares of NYSE:AMWL opened at $12.29 on Tuesday. The stock has a market capitalization of $203.40 million, a PE ratio of -2.58 and a beta of 1.68. American Well has a 1 year low of $3.71 and a 1 year high of $14.19. The firm has a fifty day moving average price of $10.41 and a 200 day moving average price of $7.67.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.27. The company had revenue of $52.05 million for the quarter, compared to the consensus estimate of $49.87 million. American Well had a negative return on equity of 30.12% and a negative net margin of 35.75%. On average, sell-side analysts forecast that American Well will post -2.56 earnings per share for the current fiscal year.

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.