American Well Corporation (NYSE:AMWL) Receives $7.20 Consensus Price Target from Analysts

American Well Corporation (NYSE:AMWL) has been given a consensus rating of “Hold” by the five analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $7.20.

A number of research firms recently commented on AMWL. Wall Street Zen upgraded American Well from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. 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 report on Wednesday, May 6th. Truist Financial set a $7.50 target price on American Well in a research report on Monday, June 8th. Finally, TD Cowen increased their price objective on American Well from $5.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, May 6th.

American Well Trading Up 0.2%

Shares of NYSE:AMWL opened at $9.27 on Monday. American Well has a 1-year low of $3.71 and a 1-year high of $9.96. The stock has a market capitalization of $153.34 million, a P/E ratio of -1.71 and a beta of 1.69. The business has a 50-day moving average price of $8.16 and a two-hundred day moving average price of $6.22.

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

Insider Buying and Selling at American Well

In other news, insider Phyllis Gotlib sold 6,677 shares of the firm’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 transaction of $62,296.41. Following the transaction, the insider directly owned 152,754 shares of the company’s stock, valued at approximately $1,425,194.82. This trade represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dmitry Zamansky sold 8,460 shares of American Well stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total transaction of $78,931.80. Following the completion of the sale, the insider owned 232,620 shares of the company’s stock, valued at approximately $2,170,344.60. The trade was a 3.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,225 shares of company stock valued at $268,623 in the last ninety days. 12.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On American Well

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in shares of American Well by 280.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock valued at $510,000 after purchasing an additional 47,745 shares in the last quarter. Jane Street Group LLC increased its holdings 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 worth $505,000 after buying an additional 44,852 shares in the last quarter. JPMorgan Chase & Co. boosted 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 purchasing an additional 2,081 shares in the last quarter. Norges Bank bought a new stake in shares of American Well during the second quarter worth about $250,000. Finally, Engineers Gate Manager LP bought a new stake in shares of American Well during the second quarter worth about $101,000. 56.05% of the stock is owned by institutional investors.

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.