American Well (NYSE:AMWL) Releases Earnings Results, Beats Expectations By $0.07 EPS

American Well (NYSE:AMWL) released its quarterly earnings results on Thursday. The company reported ($1.52) EPS for the quarter, topping analysts’ consensus estimates of ($1.59) by $0.07, FiscalAI reports. American Well had a negative return on equity of 39.80% and a negative net margin of 42.80%.The company had revenue of $55.31 million for the quarter, compared to analyst estimates of $52.71 million.

American Well Stock Performance

NYSE AMWL traded up $0.16 during trading hours on Thursday, hitting $4.48. 385,232 shares of the company traded hands, compared to its average volume of 98,773. The business’s 50-day moving average is $4.64 and its 200-day moving average is $5.50. The stock has a market capitalization of $73.28 million, a price-to-earnings ratio of -0.62 and a beta of 1.36. American Well has a twelve month low of $3.71 and a twelve month high of $12.95.

Insider Buying and Selling at American Well

In other news, insider Dmitry Zamansky sold 6,243 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total transaction of $30,278.55. Following the sale, the insider owned 191,468 shares in the company, valued at $928,619.80. This represents a 3.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 14,633 shares of company stock worth $67,972. 11.82% of the stock is owned by insiders.

Hedge Funds Weigh In On American Well

Institutional investors have recently added to or reduced their stakes in the company. 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 worth $315,000 after acquiring an additional 22,845 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of American Well by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 152,742 shares of the company’s stock worth $750,000 after purchasing an additional 3,450 shares during the last quarter. Prelude Capital Management LLC acquired a new position in shares of American Well during the 3rd quarter worth about $86,000. Two Sigma Investments LP raised its holdings in shares of American Well by 22.6% in the 3rd quarter. Two Sigma Investments LP now owns 46,329 shares of the company’s stock valued at $285,000 after purchasing an additional 8,553 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in American Well by 61.3% in the 3rd quarter. Squarepoint Ops LLC now owns 65,926 shares of the company’s stock valued at $405,000 after purchasing an additional 25,054 shares during the last quarter. 56.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. Wells Fargo & Company dropped their target price on shares of American Well from $12.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (e+)” rating on shares of American Well in a report on Wednesday, January 21st. Stifel Nicolaus cut their price objective on shares of American Well from $8.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen cut American Well from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Morgan Stanley cut their price target on American Well from $10.50 to $6.00 and set an “equal weight” rating on the stock in a report on Thursday, December 18th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, American Well currently has an average rating of “Hold” and a consensus price target of $7.58.

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.