American Well Corporation (NYSE:AMWL) Receives $8.60 Average Price Target from Brokerages

American Well Corporation (NYSE:AMWL) has been given a consensus rating of “Hold” by the five research firms that are presently covering the firm, MarketBeat 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 objective among analysts that have issued a report on the stock in the last year is $8.60.

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

Insider Transactions at American Well

In other news, Director Stephen J. Schlegel sold 9,750 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.76, for a total transaction of $85,410.00. Following the sale, the director directly owned 54,553 shares in the company, valued at $477,884.28. This trade represents a 15.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dmitry Zamansky sold 8,460 shares of American Well stock in a transaction 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 transaction, the insider owned 232,620 shares in the company, valued at approximately $2,170,344.60. This trade represents a 3.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 29,225 shares of company stock valued at $268,623 over the last three months. Corporate insiders own 12.84% of the company’s stock.

Institutional Investors Weigh In On American Well

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC purchased a new position in shares of American Well in the second quarter valued at about $39,000. Engineers Gate Manager LP purchased a new stake in shares of American Well during the second quarter worth about $101,000. Prelude Capital Management LLC bought a new stake in American Well during the 3rd quarter valued at approximately $86,000. JPMorgan Chase & Co. raised its stake in American Well by 16.5% during the 2nd 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 during the period. Finally, Occudo Quantitative Strategies LP purchased a new position in American Well in the 4th quarter worth approximately $74,000. 56.05% of the stock is owned by institutional investors.

American Well Price Performance

Shares of American Well stock opened at $10.80 on Friday. The company’s fifty day simple moving average is $9.54 and its 200-day simple moving average is $7.03. The stock has a market capitalization of $178.84 million, a PE ratio of -1.99 and a beta of 1.69. American Well has a 1-year low of $3.71 and a 1-year high of $13.45.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $54.88 million during the quarter, compared to the consensus estimate of $51.54 million. As a group, research 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.