American Well Corporation (NYSE:AMWL) Receives $7.40 Average Price Target from Brokerages

American Well Corporation (NYSE:AMWL) has been assigned an average recommendation of “Hold” from the seven ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $7.40.

A number of brokerages have issued reports on AMWL. Stifel Nicolaus decreased their target price on American Well from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Friday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of American Well in a research report on Wednesday, January 21st. Finally, Wall Street Zen upgraded shares of American Well from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd.

American Well Price Performance

American Well stock opened at $6.11 on Wednesday. American Well has a one year low of $3.71 and a one year high of $9.15. The company’s fifty day moving average price is $5.46 and its two-hundred day moving average price is $5.04. The company has a market capitalization of $101.17 million, a price-to-earnings ratio of -1.03 and a beta of 1.39.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Thursday, February 12th. The company reported ($1.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.59) by $0.07. The company had revenue of $55.31 million during the quarter, compared to analysts’ expectations of $52.71 million. American Well had a negative return on equity of 35.33% and a negative net margin of 38.38%. As a group, sell-side analysts anticipate that American Well will post -9.34 earnings per share for the current year.

Insider Buying and Selling

In other American Well news, insider Dmitry Zamansky sold 5,575 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $5.30, for a total transaction of $29,547.50. Following the completion of the transaction, the insider owned 241,080 shares of the company’s stock, valued at $1,277,724. The trade was a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 9,664 shares of company stock valued at $51,219. Company insiders own 11.82% of the company’s stock.

Hedge Funds Weigh In On American Well

A number of institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC boosted its stake in American Well by 186.6% during the 4th quarter. Hsbc Holdings PLC now owns 46,565 shares of the company’s stock valued at $224,000 after purchasing an additional 30,316 shares during the period. XTX Topco Ltd bought a new position in American Well in the 4th quarter worth approximately $215,000. JPMorgan Chase & Co. increased its position in American Well by 16.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock worth $131,000 after buying an additional 2,081 shares during the period. Barclays PLC lifted its holdings in shares of American Well by 67.7% during the fourth quarter. Barclays PLC now owns 24,047 shares of the company’s stock worth $118,000 after buying an additional 9,705 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of American Well during the second quarter worth approximately $101,000. 56.05% of the stock is currently owned by institutional investors.

About American Well

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.