American Well Corporation (NYSE:AMWL) Given Consensus Rating of “Hold” by Brokerages

Shares of American Well Corporation (NYSE:AMWL) have been assigned an average rating of “Hold” from the five brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $7.20.

A number of analysts have recently commented on AMWL shares. Morgan Stanley upped their target price on American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Wall Street Zen upgraded American Well from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Truist Financial set a $7.50 target price on American Well in a research note on Monday, June 8th. Finally, TD Cowen upped their target price on American Well from $5.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th.

American Well Stock Performance

NYSE:AMWL opened at $9.03 on Monday. American Well has a one year low of $3.71 and a one year high of $9.96. The firm has a market cap of $149.38 million, a price-to-earnings ratio of -1.67 and a beta of 1.69. The firm’s fifty day moving average is $7.86 and its two-hundred day moving average is $6.06.

American Well (NYSE:AMWL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.11. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. The company had revenue of $54.88 million for the quarter, compared to analyst estimates of $51.54 million. As a group, equities research analysts predict that American Well will post -2.68 earnings per share for the current fiscal year.

Insider Transactions at American Well

In other news, Director Stephen J. Schlegel sold 9,750 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.76, for a total value of $85,410.00. Following the sale, the director owned 54,553 shares in the company, valued at $477,884.28. This represents a 15.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Phyllis Gotlib sold 3,573 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $9.74, for a total value of $34,801.02. Following the completion of the sale, the insider owned 159,431 shares in the company, valued at $1,552,857.94. The trade was a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,099 shares of company stock worth $172,521 over the last quarter. 12.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American Well

A number of institutional investors have recently modified their holdings of AMWL. Headlands Technologies LLC purchased a new position in American Well during the second quarter worth approximately $39,000. Engineers Gate Manager LP purchased a new position in American Well during the second quarter worth approximately $101,000. Prelude Capital Management LLC purchased a new position in American Well during the third quarter worth approximately $86,000. JPMorgan Chase & Co. boosted its position in American Well by 16.5% during the second quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock worth $131,000 after purchasing an additional 2,081 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in American Well during the fourth quarter worth approximately $74,000. 56.05% of the stock is currently owned by institutional investors and hedge funds.

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.