Q2 2022 EPS Estimates for American Well Co. Reduced by Jefferies Financial Group (NYSE:AMWL)

American Well Co. (NYSE:AMWLGet Rating) – Analysts at Jefferies Financial Group reduced their Q2 2022 earnings estimates for shares of American Well in a note issued to investors on Tuesday, May 10th. Jefferies Financial Group analyst G. Santangelo now expects that the company will earn ($0.24) per share for the quarter, down from their previous estimate of ($0.20). Jefferies Financial Group also issued estimates for American Well’s Q3 2022 earnings at ($0.26) EPS, Q4 2022 earnings at ($0.25) EPS, FY2022 earnings at ($1.01) EPS, FY2023 earnings at ($0.64) EPS and FY2024 earnings at ($0.53) EPS.

American Well (NYSE:AMWLGet Rating) last posted its earnings results on Monday, May 9th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The company had revenue of $64.20 million during the quarter, compared to the consensus estimate of $64.94 million. American Well had a negative return on equity of 16.58% and a negative net margin of 79.91%. The firm’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the company posted ($0.16) EPS.

A number of other brokerages have also issued reports on AMWL. Wells Fargo & Company dropped their price objective on shares of American Well from $6.00 to $4.00 and set an “equal weight” rating for the company in a report on Monday, February 28th. Guggenheim started coverage on shares of American Well in a report on Wednesday, April 13th. They issued a “buy” rating and a $6.00 price objective for the company. Piper Sandler dropped their price objective on shares of American Well from $12.00 to $7.00 in a report on Friday, February 25th. Zacks Investment Research downgraded shares of American Well from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, The Goldman Sachs Group started coverage on shares of American Well in a research report on Friday, February 11th. They set a “neutral” rating and a $6.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, American Well presently has a consensus rating of “Hold” and an average price target of $9.13.

AMWL stock opened at $2.85 on Friday. American Well has a 12 month low of $2.52 and a 12 month high of $14.76. The firm has a 50-day moving average price of $3.63 and a 200-day moving average price of $5.15.

A number of institutional investors and hedge funds have recently made changes to their positions in AMWL. Caledonia Private Investments Pty Ltd lifted its position in American Well by 29.5% in the 4th quarter. Caledonia Private Investments Pty Ltd now owns 16,384,786 shares of the company’s stock worth $98,964,000 after buying an additional 3,736,240 shares during the last quarter. BlackRock Inc. boosted its stake in shares of American Well by 8.7% during the first quarter. BlackRock Inc. now owns 14,394,991 shares of the company’s stock valued at $60,602,000 after purchasing an additional 1,153,940 shares during the period. State Street Corp boosted its stake in shares of American Well by 19.3% during the fourth quarter. State Street Corp now owns 3,867,047 shares of the company’s stock valued at $23,357,000 after purchasing an additional 624,542 shares during the period. Eagle Health Investments LP boosted its stake in shares of American Well by 69.5% during the first quarter. Eagle Health Investments LP now owns 3,811,008 shares of the company’s stock valued at $16,044,000 after purchasing an additional 1,563,100 shares during the period. Finally, Senvest Management LLC purchased a new stake in shares of American Well during the fourth quarter valued at approximately $20,814,000. 43.75% of the stock is owned by institutional investors.

In other American Well news, CEO Ido Schoenberg sold 40,720 shares of the firm’s stock in a transaction on Monday, April 18th. The stock was sold at an average price of $3.58, for a total transaction of $145,777.60. Following the transaction, the chief executive officer now directly owns 2,509,580 shares in the company, valued at approximately $8,984,296.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Serkan Kutan sold 17,893 shares of American Well stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $3.94, for a total value of $70,498.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 321,047 shares of company stock worth $1,197,231. 14.68% of the stock is owned by company insiders.

American Well Company Profile (Get Rating)

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

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

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