American Well (NYSE:AMWL) Insider Sells $78,931.80 in Stock

American Well Corporation (NYSE:AMWL) insider Dmitry Zamansky sold 8,460 shares of the stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

American Well Trading Up 0.2%

NYSE:AMWL opened at $9.27 on Friday. The firm has a market capitalization of $153.34 million, a price-to-earnings ratio of -1.71 and a beta of 1.69. American Well Corporation has a 1-year low of $3.71 and a 1-year high of $9.96. The business’s fifty day moving average price is $8.16 and its 200 day moving average price is $6.22.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.11. American Well had a negative return on equity of 32.11% and a negative net margin of 37.02%.The firm had revenue of $54.88 million during the quarter, compared to the consensus estimate of $51.54 million. Equities analysts forecast that American Well Corporation will post -2.68 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on AMWL. Morgan Stanley upped their price objective on shares of American Well from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen raised shares of American Well from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Truist Financial set a $7.50 price target on shares of American Well in a report on Monday, June 8th. Finally, TD Cowen upped their price target on shares of American Well from $5.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $7.20.

Institutional Investors Weigh In On American Well

A number of hedge funds and other institutional investors have recently made changes to their positions in AMWL. Monaco Asset Management SAM bought a new stake in shares of American Well in the 4th quarter valued at approximately $338,000. Rock Point Advisors LLC increased its holdings in American Well by 49.3% in the third quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock worth $1,594,000 after buying an additional 85,581 shares during the last quarter. Goldman Sachs Group Inc. raised its position in American Well by 55.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 64,110 shares of the company’s stock valued at $315,000 after acquiring an additional 22,845 shares in the last quarter. Two Sigma Investments LP raised its position in American Well by 22.6% during the third quarter. Two Sigma Investments LP now owns 46,329 shares of the company’s stock valued at $285,000 after acquiring an additional 8,553 shares in the last quarter. Finally, State Street Corp lifted its stake in American Well by 7.8% in the fourth quarter. State Street Corp now owns 52,299 shares of the company’s stock valued at $257,000 after acquiring an additional 3,800 shares during the last quarter. 56.05% of the stock is owned by hedge funds and other institutional investors.

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.