American Well Corporation (NYSE:AMWL) Receives Consensus Rating of “Hold” from Brokerages

Shares of American Well Corporation (NYSE:AMWL) have been given a consensus recommendation of “Hold” by the five research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $7.20.

A number of research firms have recently issued reports on AMWL. Wall Street Zen upgraded shares of American Well from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. TD Cowen increased their price objective on shares of American Well from $5.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Morgan Stanley increased their target price on American Well from $6.00 to $6.50 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Truist Financial set a $7.50 target price on American Well in a research report on Monday. Finally, Stifel Nicolaus dropped their target price on American Well from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Friday, February 13th.

American Well Trading Up 1.9%

AMWL opened at $8.79 on Thursday. American Well has a 12-month low of $3.71 and a 12-month high of $9.96. The business’s fifty day simple moving average is $6.99 and its 200-day simple moving average is $5.61. The company has a market capitalization of $145.39 million, a price-to-earnings ratio of -1.62 and a beta of 1.69.

American Well (NYSE:AMWL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.11. American Well had a negative return on equity of 32.11% and a negative net margin of 37.02%.The business had revenue of $54.88 million for the quarter, compared to the consensus estimate of $51.54 million. On average, equities research analysts predict that American Well will post -2.68 EPS for the current year.

Insider Transactions at American Well

In related news, insider Phyllis Gotlib sold 3,573 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $9.74, for a total transaction of $34,801.02. Following the sale, the insider owned 159,431 shares of the company’s stock, valued at $1,552,857.94. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dmitry Zamansky sold 5,575 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $5.30, for a total value of $29,547.50. Following the sale, the insider directly owned 241,080 shares in the company, valued at approximately $1,277,724. The trade was a 2.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 13,349 shares of company stock worth $87,111. 12.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On American Well

A number of institutional investors have recently added to or reduced their stakes in AMWL. Senvest Management LLC boosted its position in 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 in the last quarter. Rock Point Advisors LLC boosted its position in American Well by 49.3% during the third quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock valued at $1,594,000 after purchasing an additional 85,581 shares in the last quarter. Monaco Asset Management SAM bought a new stake in American Well during the fourth quarter valued at about $338,000. Squarepoint Ops LLC boosted its holdings in American Well by 74.5% in the fourth quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock worth $565,000 after acquiring an additional 49,135 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in American Well by 280.6% in the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock worth $510,000 after acquiring an additional 47,745 shares in the last quarter. Institutional investors own 56.05% of the company’s stock.

American Well Company Profile

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.