American Well Corporation (NYSE:AMWL) Receives $8.60 Consensus PT from Brokerages

Shares of American Well Corporation (NYSE:AMWL) have been given an average rating of “Hold” by the five analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $8.60.

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

Insider Activity at American Well

In other American Well news, insider Phyllis Gotlib sold 6,677 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total value of $62,296.41. Following the transaction, the insider owned 152,754 shares in the company, valued at approximately $1,425,194.82. This represents a 4.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen J. Schlegel sold 9,750 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $8.76, for a total transaction of $85,410.00. Following the completion of the sale, the director owned 54,553 shares of the company’s stock, valued at approximately $477,884.28. The trade was a 15.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 29,225 shares of company stock valued at $268,623. Corporate insiders own 12.84% of the company’s stock.

Institutional Trading of American Well

A number of institutional investors have recently bought and sold shares of AMWL. Goldman Sachs Group Inc. lifted its stake in American Well by 280.6% in the first 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 last quarter. Jane Street Group LLC boosted its position in shares of American Well by 232.9% during the first 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 during the period. JPMorgan Chase & Co. grew its stake 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 position in shares of American Well during the second quarter valued at approximately $250,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of American Well in the second quarter worth approximately $101,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

American Well Price Performance

NYSE AMWL opened at $10.81 on Friday. The company has a market capitalization of $178.92 million, a price-to-earnings ratio of -1.99 and a beta of 1.69. American Well has a 12 month low of $3.71 and a 12 month high of $13.45. The company’s fifty day moving average price is $9.29 and its two-hundred day moving average price is $6.87.

American Well (NYSE:AMWL) last released its earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.11. The company had revenue of $54.88 million during the quarter, compared to the consensus estimate of $51.54 million. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. As a group, analysts anticipate that American Well will post -2.68 EPS for the current 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.