Shares of American Well Corporation (NYSE:AMWL – Get Free Report) have been assigned an average recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $12.30.
A number of equities analysts have recently issued reports on the stock. Stifel Nicolaus increased their price objective on shares of American Well from $11.00 to $12.00 and gave the stock a “hold” rating in a research report on Wednesday. TD Cowen upped their price target on American Well from $12.00 to $13.00 and gave the stock a “hold” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research note on Wednesday, August 5th. Truist Financial set a $12.00 price target on American Well and gave the stock a “hold” rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company raised their price objective on American Well from $16.00 to $18.00 and gave the company an “overweight” rating in a research note on Wednesday.
View Our Latest Research Report on AMWL
American Well Trading Down 1.2%
NYSE:AMWL opened at $11.97 on Friday. The stock has a market capitalization of $198.10 million, a price-to-earnings ratio of -3.48 and a beta of 1.72. The firm has a fifty day simple moving average of $12.97 and a two-hundred day simple moving average of $9.10. American Well has a 12 month low of $3.71 and a 12 month high of $15.16.
American Well (NYSE:AMWL – Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.67) earnings per share for the quarter, beating the consensus estimate of ($0.78) by $0.11. American Well had a negative net margin of 27.03% and a negative return on equity of 24.32%. The firm had revenue of $48.99 million during the quarter, compared to the consensus estimate of $47.28 million. Equities analysts predict that American Well will post -2.46 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, insider Phyllis Gotlib sold 6,677 shares of the company’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $13.00, for a total transaction of $86,801.00. Following the transaction, the insider directly owned 142,504 shares of the company’s stock, valued at $1,852,552. This represents a 4.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dmitry Zamansky sold 8,442 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $13.00, for a total value of $109,746.00. Following the completion of the transaction, the insider owned 224,178 shares in the company, valued at approximately $2,914,314. This represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 19,457 shares of company stock worth $248,519 over the last ninety days. 12.84% of the stock is owned by insiders.
Institutional Inflows and Outflows
A hedge fund recently raised its position in American Well stock. Senvest Management LLC grew its holdings in shares of American Well Corporation (NYSE:AMWL – Free Report) by 213.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,136,558 shares of the company’s stock after buying an additional 773,834 shares during the quarter. Senvest Management LLC owned 6.87% of American Well worth $5,978,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 56.05% of the company’s stock.
About American Well
American Well, doing business as Amwell, is a digital healthcare company that provides technology and services for virtual care. Its platform connects patients with healthcare professionals through video and other digital channels, supporting services such as urgent care, behavioral health, primary care and specialty consultations.
Amwell primarily serves health systems, health plans, employers and other healthcare organizations. Its offerings include the Amwell Converge platform, which is designed to help organizations develop, manage and integrate digital care programs with existing clinical workflows and healthcare systems.
Founded in 2006 by brothers Ido and Roy Schoenberg, the company was formerly known as American Well and adopted the Amwell brand in 2020.
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