American Well Corporation (NYSE:AMWL) Given Average Rating of “Hold” by Analysts

Shares of American Well Corporation (NYSE:AMWL) have earned a consensus rating of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $9.50.

AMWL has been the subject of several research reports. Wells Fargo & Company lifted their price objective on American Well from $9.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Morgan Stanley lifted their price target on American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Truist Financial set a $12.00 price objective on shares of American Well and gave the stock a “hold” rating in a research report on Thursday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of American Well in a research note on Friday, July 17th. Finally, TD Cowen lifted their target price on shares of American Well from $5.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th.

Insider Buying and Selling

In related news, Director Stephen J. Schlegel sold 9,750 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $8.76, for a total value of $85,410.00. Following the completion of the transaction, the director owned 54,553 shares of the company’s stock, valued at approximately $477,884.28. The trade was a 15.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Phyllis Gotlib sold 6,677 shares of the company’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total transaction of $62,296.41. Following the completion of the transaction, the insider owned 152,754 shares in the company, valued at approximately $1,425,194.82. This trade represents a 4.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 29,225 shares of company stock worth $268,623. 12.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Well

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new position in shares of American Well in the 2nd quarter valued at about $39,000. Engineers Gate Manager LP acquired a new position in American Well during the second quarter valued at approximately $101,000. Prelude Capital Management LLC acquired a new stake in shares of American Well in the third quarter worth $86,000. JPMorgan Chase & Co. raised its stake in shares of American Well by 16.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock valued at $131,000 after acquiring an additional 2,081 shares during the period. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of American Well in the 4th quarter valued at $74,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

American Well Price Performance

Shares of AMWL opened at $11.91 on Tuesday. The firm has a 50-day simple moving average of $10.73 and a two-hundred day simple moving average of $7.94. The stock has a market cap of $197.16 million, a PE ratio of -2.50 and a beta of 1.68. American Well has a 1-year low of $3.71 and a 1-year high of $14.19.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 35.75% and a negative return on equity of 30.12%. As a group, sell-side analysts expect 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.