American Well Corporation (NYSE:AMWL) Receives $7.20 Consensus PT from Brokerages

Shares of American Well Corporation (NYSE:AMWL) have been assigned an average rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $7.20.

Several equities analysts recently commented on AMWL shares. TD Cowen increased their target price on shares of American Well from $5.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Truist Financial set a $7.50 price target on shares of American Well in a research report on Monday, June 8th. Morgan Stanley raised 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. Finally, Wall Street Zen upgraded American Well from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd.

American Well Price Performance

NYSE:AMWL opened at $9.27 on Monday. The company has a market capitalization of $153.34 million, a price-to-earnings ratio of -1.71 and a beta of 1.69. The business has a 50 day moving average of $8.16 and a 200 day moving average of $6.23. American Well has a 1-year low of $3.71 and a 1-year high of $9.96.

American Well (NYSE:AMWL) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.11. The business had revenue of $54.88 million for the quarter, compared to analysts’ expectations of $51.54 million. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. As a group, sell-side analysts anticipate that American Well will post -2.68 EPS for the current year.

Insider Buying and Selling

In other American Well news, insider Phyllis Gotlib sold 6,677 shares of American Well 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 transaction, the insider directly owned 152,754 shares of the company’s stock, valued at $1,425,194.82. The trade was a 4.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dmitry Zamansky sold 8,460 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total value of $78,931.80. Following the completion of the sale, the insider owned 232,620 shares of the company’s stock, valued at $2,170,344.60. The trade was a 3.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 29,225 shares of company stock worth $268,623 in the last ninety days. 12.84% of the stock is owned by insiders.

Institutional Investors Weigh In On American Well

Institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new stake in American Well in the 2nd quarter worth $39,000. Occudo Quantitative Strategies LP purchased a new stake in shares of American Well during the fourth quarter worth about $74,000. NewEdge Advisors LLC purchased a new stake in shares of American Well during the fourth quarter worth about $82,000. Prelude Capital Management LLC bought a new stake in shares of American Well in the third quarter worth about $86,000. Finally, Engineers Gate Manager LP purchased a new position in American Well during the 2nd quarter valued at about $101,000. Hedge funds and other 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.