Morgan Stanley Issues Positive Forecast for American Well (NYSE:AMWL) Stock Price

American Well (NYSE:AMWL) had its target price upped by equities research analysts at Morgan Stanley from $6.00 to $6.50 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential downside of 12.46% from the stock’s previous close.

AMWL has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of American Well in a research report on Wednesday, January 21st. Wall Street Zen upgraded American Well from a “sell” rating to a “hold” rating in a research note on Sunday, March 22nd. Finally, Stifel Nicolaus dropped their price objective on American Well from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Friday, February 13th. One analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.50.

American Well Stock Up 16.7%

Shares of AMWL traded up $1.07 during mid-day trading on Wednesday, reaching $7.43. The company’s stock had a trading volume of 124,819 shares, compared to its average volume of 83,602. American Well has a 1 year low of $3.71 and a 1 year high of $9.15. The company has a market cap of $122.88 million, a price-to-earnings ratio of -1.25 and a beta of 1.52. The business has a fifty day moving average of $5.69 and a 200 day moving average of $5.03.

American Well (NYSE:AMWL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.11. American Well had a negative net margin of 38.38% and a negative return on equity of 35.33%. The business had revenue of $54.88 million for the quarter, compared to the consensus estimate of $51.54 million. On average, analysts predict that American Well will post -2.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Dmitry Zamansky sold 5,575 shares of American Well stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $5.30, for a total transaction of $29,547.50. Following the sale, the insider directly owned 241,080 shares of the company’s stock, valued at $1,277,724. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 9,664 shares of company stock worth $51,219 over the last 90 days. 12.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in American Well by 16.5% during the second quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock worth $131,000 after purchasing an additional 2,081 shares during the period. Geode Capital Management LLC lifted its stake in American Well by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 152,742 shares of the company’s stock worth $750,000 after purchasing an additional 3,450 shares during the period. State Street Corp lifted its stake in American Well by 7.8% during the fourth quarter. State Street Corp now owns 52,299 shares of the company’s stock worth $257,000 after purchasing an additional 3,800 shares during the period. Headlands Technologies LLC bought a new position in American Well during the second quarter worth about $39,000. Finally, Two Sigma Investments LP lifted its stake in American Well by 22.6% during the third quarter. Two Sigma Investments LP now owns 46,329 shares of the company’s stock worth $285,000 after purchasing an additional 8,553 shares during the period. Institutional investors own 56.05% of the company’s stock.

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.