American Well (NYSE:AMWL) Price Target Raised to $18.00

American Well (NYSE:AMWL) had its price target upped by Wells Fargo & Company from $16.00 to $18.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also issued reports on AMWL. Stifel Nicolaus boosted their target price on American Well from $11.00 to $12.00 and gave the company a “hold” rating in a research note on Wednesday. Truist Financial set a $12.00 price target on American Well and gave the company a “hold” rating in a research report on Thursday, August 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of American Well in a research note on Thursday, October 15th. Finally, Needham & Company LLC reissued a “hold” rating on shares of American Well in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.30.

American Well Stock Down 1.2%

AMWL traded down $0.14 during trading on Wednesday, hitting $11.97. 110,586 shares of the company traded hands, compared to its average volume of 116,415. The firm has a market cap of $198.10 million, a P/E ratio of -3.48 and a beta of 1.72. The stock’s fifty day moving average is $12.97 and its 200 day moving average is $9.10. American Well has a one year low of $3.71 and a one year high of $15.16.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.67) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.78) by $0.11. The business had revenue of $48.99 million during the quarter, compared to the consensus estimate of $47.28 million. American Well had a negative net margin of 35.75% and a negative return on equity of 30.12%. On average, equities research analysts forecast that American Well will post -2.46 EPS for the current fiscal year.

Insider Transactions at American Well

In other news, insider Dmitry Zamansky sold 8,442 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $13.00, for a total value of $109,746.00. Following the completion of the transaction, the insider directly owned 224,178 shares in the company, valued at approximately $2,914,314. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Phyllis Gotlib sold 6,677 shares of the business’s stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $13.00, for a total transaction of $86,801.00. Following the transaction, the insider directly owned 142,504 shares of the company’s stock, valued at approximately $1,852,552. This represents a 4.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 19,457 shares of company stock worth $248,519. Insiders own 12.84% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently raised its position in American Well stock. Senvest Management LLC grew its position in shares of American Well Corporation (NYSE:AMWL) by 213.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,136,558 shares of the company’s stock after purchasing an additional 773,834 shares during the period. Senvest Management LLC owned approximately 6.87% of American Well worth $5,978,000 at the end of the most recent quarter. Institutional investors and hedge funds own 56.05% of the company’s stock.

About American Well

American Well, doing business as Amwell, is a digital healthcare company that provides technology and services for virtual care. Its platform connects patients with healthcare professionals through video and other digital channels, supporting services such as urgent care, behavioral health, primary care and specialty consultations.

Amwell primarily serves health systems, health plans, employers and other healthcare organizations. Its offerings include the Amwell Converge platform, which is designed to help organizations develop, manage and integrate digital care programs with existing clinical workflows and healthcare systems.

Founded in 2006 by brothers Ido and Roy Schoenberg, the company was formerly known as American Well and adopted the Amwell brand in 2020.