Phyllis Gotlib Sells 6,677 Shares of American Well (NYSE:AMWL) Stock

American Well Corporation (NYSE:AMWL) insider Phyllis Gotlib sold 6,677 shares of the company’s stock in a transaction 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 directly owned 152,754 shares in the company, valued at $1,425,194.82. This represents a 4.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Phyllis Gotlib also recently made the following trade(s):

• On Monday, June 1st, Phyllis Gotlib sold 3,573 shares of American Well stock. The stock was sold at an average price of $9.74, for a total value of $34,801.02.

American Well Stock Performance

Shares of American Well stock opened at $9.27 on Friday. American Well Corporation has a 52-week low of $3.71 and a 52-week high of $9.96. The stock’s 50-day simple moving average is $8.10 and its 200 day simple moving average is $6.20. The stock has a market capitalization of $153.35 million, a P/E ratio of -1.71 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) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.11. The business had revenue of $54.88 million for 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%. Equities research analysts forecast that American Well Corporation will post -2.68 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. TD Cowen lifted their price objective on shares of American Well from $5.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Morgan Stanley raised their price target on American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Wall Street Zen upgraded American Well from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Truist Financial set a $7.50 price objective on American Well in a research note on Monday, June 8th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.20.

Hedge Funds Weigh In On American Well

Several hedge funds have recently bought and sold shares of the company. Monaco Asset Management SAM bought a new position in American Well in the 4th quarter valued at $338,000. Rock Point Advisors LLC grew its position in shares of American Well by 49.3% during the 3rd quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock valued at $1,594,000 after purchasing an additional 85,581 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of American Well by 74.5% in the fourth quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock worth $565,000 after purchasing an additional 49,135 shares during the period. State Street Corp raised its position in shares of American Well by 7.8% in the fourth quarter. State Street Corp now owns 52,299 shares of the company’s stock worth $257,000 after buying an additional 3,800 shares in the last quarter. Finally, Norges Bank bought a new stake in American Well during the second quarter valued at $250,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

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.