American Well Corporation (NYSE:AMWL) Receives $7.42 Average PT from Brokerages

American Well Corporation (NYSE:AMWL) has been assigned an average rating of “Hold” from the eight ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $7.4167.

A number of research firms have commented on AMWL. Wall Street Zen raised American Well from a “sell” rating to a “hold” rating in a report on Saturday, February 14th. Morgan Stanley decreased their target price on American Well from $10.50 to $6.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 18th. Stifel Nicolaus lowered their price target on American Well from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Friday, February 13th. Wells Fargo & Company dropped their price target on American Well from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of American Well in a research report on Wednesday, January 21st.

Insider Transactions at American Well

In other American Well news, insider Dmitry Zamansky sold 6,243 shares of American Well stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $4.85, for a total value of $30,278.55. Following the sale, the insider directly owned 191,468 shares in the company, valued at approximately $928,619.80. The trade was a 3.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders have sold 10,946 shares of company stock valued at $53,002. Insiders own 12.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of American Well in the second quarter worth about $39,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in American Well during the 3rd quarter valued at approximately $62,000. Occudo Quantitative Strategies LP bought a new stake in American Well in the 4th quarter worth approximately $74,000. NewEdge Advisors LLC purchased a new stake in shares of American Well during the 4th quarter worth approximately $82,000. Finally, Prelude Capital Management LLC purchased a new stake in shares of American Well during the 3rd quarter worth approximately $86,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

American Well Price Performance

Shares of NYSE:AMWL opened at $5.33 on Tuesday. The firm’s 50 day simple moving average is $4.91 and its two-hundred day simple moving average is $5.29. The company has a market capitalization of $88.26 million, a P/E ratio of -0.90 and a beta of 1.34. American Well has a 1-year low of $3.71 and a 1-year high of $9.71.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($1.52) EPS for the quarter, beating the consensus estimate of ($1.59) by $0.07. The firm had revenue of $55.31 million for the quarter, compared to the consensus estimate of $52.71 million. American Well had a negative net margin of 38.38% and a negative return on equity of 35.33%. On average, sell-side analysts anticipate that American Well will post -9.34 earnings per share for the current fiscal 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.