American Well Corporation (NYSE:AMWL) Receives Consensus Rating of “Hold” from Analysts

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

Several analysts have commented on AMWL shares. Weiss Ratings reissued a “sell (d-)” rating on shares of American Well in a research report on Friday, July 17th. Wells Fargo & Company upped their price objective 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. Truist Financial set a $12.00 target price on American Well and gave the company a “hold” rating in a report on Thursday, August 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research report on Wednesday, August 5th.

Insider Activity at American Well

In other American Well news, insider Phyllis Gotlib sold 3,573 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $11.80, for a total transaction of $42,161.40. Following the completion of the sale, the insider owned 149,181 shares of the company’s stock, valued at $1,760,335.80. This represents a 2.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dmitry Zamansky sold 8,460 shares of the 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 transaction, the insider owned 232,620 shares in the company, valued at approximately $2,170,344.60. This trade represents a 3.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 19,475 shares of company stock valued at $190,804. Corporate insiders own 12.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in American Well by 280.6% during the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock valued at $510,000 after acquiring an additional 47,745 shares during the period. Jane Street Group LLC lifted its position in shares of American Well by 232.9% during the 1st quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock worth $505,000 after purchasing an additional 44,852 shares during the last quarter. JPMorgan Chase & Co. increased its position in American Well by 16.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock worth $131,000 after buying an additional 2,081 shares during the period. Norges Bank acquired a new position in shares of American Well during the second quarter worth approximately $250,000. Finally, Engineers Gate Manager LP bought a new stake in shares of American Well in the second quarter valued at approximately $101,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

American Well Trading Up 1.8%

Shares of NYSE:AMWL opened at $13.02 on Friday. The firm has a market cap of $215.51 million, a price-to-earnings ratio of -2.73 and a beta of 1.71. American Well has a 1 year low of $3.71 and a 1 year high of $14.19. The business has a fifty day simple moving average of $11.76 and a 200 day simple moving average of $8.65.

American Well (NYSE:AMWL) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.59) EPS for the quarter, topping analysts’ consensus estimates of ($0.86) by $0.27. The firm had revenue of $52.05 million for the quarter, compared to the consensus estimate of $49.87 million. American Well had a negative return on equity of 30.12% and a negative net margin of 35.75%. On average, sell-side analysts forecast that American Well will post -2.56 EPS for the current 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.