Q1 2022 EPS Estimates for American Well Co. (NYSE:AMWL) Reduced by Analyst

American Well Co. (NYSE:AMWLGet Rating) – Equities research analysts at Jefferies Financial Group dropped their Q1 2022 EPS estimates for American Well in a research report issued on Wednesday, April 13th. Jefferies Financial Group analyst G. Santangelo now expects that the company will post earnings per share of ($0.20) for the quarter, down from their previous forecast of ($0.19). Jefferies Financial Group also issued estimates for American Well’s Q2 2022 earnings at ($0.20) EPS, Q3 2022 earnings at ($0.20) EPS, Q4 2022 earnings at ($0.20) EPS, FY2022 earnings at ($0.80) EPS, FY2023 earnings at ($0.42) EPS, FY2024 earnings at ($0.30) EPS and FY2025 earnings at ($0.17) EPS.

American Well (NYSE:AMWLGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.10. The company had revenue of $72.80 million during the quarter, compared to the consensus estimate of $68.93 million. American Well had a negative net margin of 69.80% and a negative return on equity of 14.21%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.21) earnings per share.

Several other research firms also recently issued reports on AMWL. Wells Fargo & Company lowered their price objective on American Well from $6.00 to $4.00 and set an “equal weight” rating for the company in a research note on Monday, February 28th. The Goldman Sachs Group began coverage on shares of American Well in a research report on Friday, February 11th. They issued a “neutral” rating and a $6.00 price target for the company. Piper Sandler cut their price target on shares of American Well from $12.00 to $7.00 in a report on Friday, February 25th. Zacks Investment Research upgraded American Well from a “sell” rating to a “hold” rating in a report on Thursday, March 3rd. Finally, Guggenheim began coverage on American Well in a research report on Wednesday. They set a “buy” rating and a $6.00 target price for the company. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $9.13.

American Well stock opened at $3.77 on Friday. The stock has a 50-day moving average price of $3.95 and a two-hundred day moving average price of $5.86. American Well has a 12 month low of $3.02 and a 12 month high of $19.21. The company has a market capitalization of $992.72 million, a PE ratio of -5.46 and a beta of 0.60.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMWL. Caledonia Private Investments Pty Ltd lifted its stake in shares of American Well by 29.5% in the fourth quarter. Caledonia Private Investments Pty Ltd now owns 16,384,786 shares of the company’s stock valued at $98,964,000 after buying an additional 3,736,240 shares in the last quarter. Senvest Management LLC acquired a new stake in shares of American Well in the 4th quarter worth about $20,814,000. Ibex Investors LLC bought a new position in American Well in the 4th quarter valued at about $13,176,000. Morgan Stanley boosted its stake in American Well by 198.1% during the 2nd quarter. Morgan Stanley now owns 2,318,691 shares of the company’s stock valued at $29,169,000 after purchasing an additional 1,540,792 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in American Well by 12.3% during the 3rd quarter. BlackRock Inc. now owns 12,726,864 shares of the company’s stock worth $115,942,000 after purchasing an additional 1,397,927 shares in the last quarter. Hedge funds and other institutional investors own 42.31% of the company’s stock.

In other news, CTO Serkan Kutan sold 17,893 shares of the stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $3.94, for a total transaction of $70,498.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ido Schoenberg sold 136,611 shares of the business’s stock in a transaction dated Monday, March 21st. The shares were sold at an average price of $3.77, for a total value of $515,023.47. The disclosure for this sale can be found here. Insiders sold a total of 223,449 shares of company stock worth $849,803 over the last three months. 14.68% of the stock is owned by company insiders.

About American Well (Get Rating)

American Well Corporation operates as a telehealth company that enables digital delivery of care for healthcare. The company products offers urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, Its application offers urgent care; pediatrics; therapy; menopause nutrition; end-stage renal disease and dialysis; dermatology care; behavioral health therapy; musculoskeletal care.

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Earnings History and Estimates for American Well (NYSE:AMWL)

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