Stephen Schlegel Sells 9,750 Shares of American Well (NYSE:AMWL) Stock

American Well Corporation (NYSE:AMWL) Director Stephen Schlegel sold 9,750 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.76, for a total transaction of $85,410.00. Following the completion of the sale, the director directly owned 54,553 shares of the company’s stock, valued at $477,884.28. This trade represents a 15.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

American Well Stock Performance

AMWL stock opened at $8.68 on Wednesday. The firm has a market cap of $143.70 million, a P/E ratio of -1.60 and a beta of 1.69. The firm’s fifty day moving average is $7.40 and its 200 day moving average is $5.81. American Well Corporation has a 52 week low of $3.71 and a 52 week high of $9.96.

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, beating the consensus estimate of ($0.77) by $0.11. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. The business had revenue of $54.88 million during the quarter, compared to analyst estimates of $51.54 million. As a group, analysts forecast that American Well Corporation will post -2.68 EPS for the current year.

Hedge Funds Weigh In On American Well

Several hedge funds have recently made changes to their positions in the business. Senvest Management LLC raised its holdings 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 acquiring an additional 773,834 shares in the last quarter. Hsbc Holdings PLC increased its position in American Well by 186.6% during the 4th quarter. Hsbc Holdings PLC now owns 46,565 shares of the company’s stock valued at $224,000 after purchasing an additional 30,316 shares during the period. NewEdge Advisors LLC purchased a new position in American Well during the 4th quarter valued at $82,000. XTX Topco Ltd bought a new position in American Well in the 4th quarter worth $215,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in shares of American Well in the 4th quarter worth about $74,000. 56.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AMWL shares. Truist Financial set a $7.50 price target on American Well in a research note on Monday, June 8th. Morgan Stanley increased their price objective on American Well from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. 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 note on Wednesday, May 6th. Finally, Wall Street Zen upgraded shares of American Well from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, American Well presently has an average rating of “Hold” and a consensus price target of $7.20.

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.