American Well’s (AMWL) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of American Well (NYSE:AMWL) in a research note published on Wednesday morning,Benzinga reports.

A number of other analysts also recently weighed in on AMWL. Wells Fargo & Company upped their price target on shares of American Well from $9.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. TD Cowen raised their price objective on American Well from $5.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Well in a research note on Friday, July 17th. Truist Financial set a $7.50 target price on American Well in a research report on Monday, June 8th. Finally, Morgan Stanley boosted their target price 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. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $8.60.

American Well Price Performance

Shares of NYSE AMWL opened at $13.51 on Wednesday. The firm has a market cap of $223.57 million, a price-to-earnings ratio of -2.83 and a beta of 1.68. The stock’s fifty day moving average price is $9.92 and its two-hundred day moving average price is $7.31. American Well has a one year low of $3.71 and a one year high of $14.19.

American Well (NYSE:AMWL) last announced its earnings results on Tuesday, August 4th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.27. American Well had a negative net margin of 35.75% and a negative return on equity of 30.12%. The company had revenue of $52.05 million for the quarter, compared to analysts’ expectations of $49.87 million. On average, equities analysts anticipate that American Well will post -2.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Stephen J. Schlegel sold 9,750 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.76, for a total value of $85,410.00. Following the completion of the sale, the director directly owned 54,553 shares in the company, 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 is available at this link. Also, insider Dmitry Zamansky sold 8,460 shares of the business’s stock in a transaction dated 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 directly owned 232,620 shares of the company’s stock, valued at $2,170,344.60. The trade was a 3.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 29,225 shares of company stock worth $268,623. 12.84% of the stock is currently owned by company insiders.

Institutional Trading of American Well

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

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.