American Well Corporation (NYSE:AMWL) Stock Rated “Hold” by Sell-Side Analysts

Shares of American Well Corporation (NYSE:AMWL) have been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $12.30.

Several equities research analysts have weighed in on AMWL shares. Stifel Nicolaus increased their target price on shares of American Well from $11.00 to $12.00 and gave the stock a “hold” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Well in a report on Thursday, October 15th. TD Cowen raised their price target on American Well from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Wednesday. Truist Financial set a $12.00 price objective on American Well and gave the company a “hold” rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company boosted their price objective on American Well from $16.00 to $18.00 and gave the company an “overweight” rating in a research report on Wednesday.

Insider Activity at American Well

In other American Well news, insider Phyllis Gotlib sold 6,677 shares of American Well stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $13.00, for a total value of $86,801.00. Following the transaction, the insider owned 142,504 shares of the company’s stock, valued at approximately $1,852,552. The trade was a 4.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dmitry Zamansky sold 8,442 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $13.00, for a total transaction of $109,746.00. Following the sale, the insider owned 224,178 shares in the company, valued at approximately $2,914,314. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,457 shares of company stock worth $248,519 over the last 90 days. Corporate insiders own 12.84% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in American Well stock. Senvest Management LLC lifted its holdings in American Well Corporation (NYSE:AMWL) by 213.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,136,558 shares of the company’s stock after purchasing an additional 773,834 shares during the quarter. Senvest Management LLC owned 6.87% of American Well worth $5,978,000 as of its most recent SEC filing. 56.05% of the stock is currently owned by institutional investors and hedge funds.

American Well Stock Performance

Shares of AMWL stock opened at $12.14 on Friday. The firm’s 50 day moving average price is $12.97 and its two-hundred day moving average price is $9.07. American Well has a 52-week low of $3.71 and a 52-week high of $15.16. The stock has a market cap of $200.92 million, a PE ratio of -3.53 and a beta of 1.72.

American Well (NYSE:AMWL) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.78) by $0.11. The company had revenue of $48.99 million during the quarter, compared to analysts’ expectations of $47.28 million. American Well had a negative net margin of 27.03% and a negative return on equity of 24.32%. As a group, sell-side analysts predict that American Well will post -2.56 earnings per share for the current fiscal year.

American Well Company Profile

American Well, doing business as Amwell, is a digital healthcare company that provides technology and services for virtual care. Its platform connects patients with healthcare professionals through video and other digital channels, supporting services such as urgent care, behavioral health, primary care and specialty consultations.

Amwell primarily serves health systems, health plans, employers and other healthcare organizations. Its offerings include the Amwell Converge platform, which is designed to help organizations develop, manage and integrate digital care programs with existing clinical workflows and healthcare systems.

Founded in 2006 by brothers Ido and Roy Schoenberg, the company was formerly known as American Well and adopted the Amwell brand in 2020.