American Well Corporation (NYSE:AMWL) Receives Consensus Rating of “Hold” from Analysts

American Well Corporation (NYSE:AMWL) has received an average recommendation of “Hold” from the five analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $8.60.

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of American Well from $9.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of American Well in a report on Friday, July 17th. Morgan Stanley upped their price target on shares of American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Truist Financial set a $7.50 price objective on shares of American Well in a research note on Monday, June 8th. Finally, TD Cowen raised their price objective on shares of American Well from $5.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th.

Insiders Place Their Bets

In other news, insider Dmitry Zamansky sold 8,460 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total value of $78,931.80. Following the transaction, the insider directly owned 232,620 shares in the company, valued at $2,170,344.60. The trade was a 3.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Phyllis Gotlib sold 6,677 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total value of $62,296.41. Following the completion of the transaction, the insider directly owned 152,754 shares of the company’s stock, valued at approximately $1,425,194.82. This trade represents a 4.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 29,225 shares of company stock worth $268,623. Corporate insiders own 12.84% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its stake in American Well by 280.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock worth $510,000 after purchasing an additional 47,745 shares during the period. Jane Street Group LLC grew its holdings in American Well by 232.9% during the 1st quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock valued at $505,000 after buying an additional 44,852 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of American Well by 16.5% during the second quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock valued at $131,000 after buying an additional 2,081 shares during the last quarter. Norges Bank bought a new stake in shares of American Well during the second quarter valued at approximately $250,000. Finally, Engineers Gate Manager LP purchased a new position in shares of American Well in the second quarter worth $101,000. 56.05% of the stock is owned by hedge funds and other institutional investors.

American Well Stock Performance

NYSE:AMWL opened at $10.70 on Friday. The stock has a 50-day simple moving average of $9.23 and a two-hundred day simple moving average of $6.83. The firm has a market capitalization of $177.10 million, a PE ratio of -1.97 and a beta of 1.69. American Well has a 52-week low of $3.71 and a 52-week high of $13.45.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.66) 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 for the quarter, compared to the consensus estimate of $51.54 million. Equities analysts forecast that American Well will post -2.68 earnings per share for the current fiscal year.

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.