American Well Corporation (NYSE:AMWL) Receives $7.13 Consensus Target Price from Analysts

Shares of American Well Corporation (NYSE:AMWL) have earned an average recommendation of “Hold” from the five ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $7.20.

A number of analysts have weighed in on AMWL shares. Morgan Stanley raised their price objective on shares of 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 price objective on shares of American Well in a report on Monday. Stifel Nicolaus cut their price objective on shares of American Well from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Friday, February 13th. Wall Street Zen raised shares of American Well from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Finally, TD Cowen lifted their target price on shares of American Well from $5.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, May 6th.

Insiders Place Their Bets

In other news, insider Phyllis Gotlib sold 3,573 shares of American Well stock in a transaction on Monday, June 1st. The shares were sold at an average price of $9.74, for a total value of $34,801.02. Following the transaction, the insider directly owned 159,431 shares of the company’s stock, valued at $1,552,857.94. The trade was a 2.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Dmitry Zamansky sold 5,575 shares of American Well 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 directly owned 241,080 shares in the company, valued at $1,277,724. The trade was a 2.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 13,349 shares of company stock worth $87,111 over the last ninety days. Corporate insiders own 12.84% of the company’s stock.

Hedge Funds Weigh In On American Well

Institutional investors have recently modified their holdings of the business. Headlands Technologies LLC acquired a new position in shares of American Well in the 2nd quarter valued at $39,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of American Well in the 3rd quarter valued at $62,000. Engineers Gate Manager LP acquired a new position in shares of American Well in the 2nd quarter valued at $101,000. Prelude Capital Management LLC acquired a new position in shares of American Well in the 3rd quarter valued at $86,000. Finally, JPMorgan Chase & Co. grew 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 valued at $131,000 after buying an additional 2,081 shares during the last quarter. 56.05% of the stock is owned by institutional investors and hedge funds.

American Well Trading Down 1.0%

AMWL stock opened at $8.42 on Thursday. American Well has a twelve month low of $3.71 and a twelve month high of $9.96. The company’s 50 day moving average is $7.12 and its two-hundred day moving average is $5.67. The stock has a market cap of $139.28 million, a P/E ratio of -1.55 and a beta of 1.69.

American Well (NYSE:AMWL) last released its quarterly earnings data 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 37.02% and a negative return on equity of 32.11%. The company had revenue of $54.88 million for the quarter, compared to analysts’ expectations of $51.54 million. On average, equities research analysts predict that American Well will post -2.68 earnings per share 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.