American Well Corporation (NYSE:AMWL) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on American Well, with five hold, one buy and one sell rating among seven analysts. The average 12-month price target is $9.50.
• American Well recently reported better-than-expected quarterly results, posting an adjusted loss of $0.59 per share versus the $0.86 consensus estimate and revenue of $52.05 million, above expectations of $49.87 million.
• The stock opened at $12.29, while insiders sold 29,225 shares worth approximately $268,623 over the past three months. Institutional investors and hedge funds own 56.05% of the company.

American Well Corporation (NYSE:AMWL - Get Free Report) has been assigned an average recommendation of "Hold" from the seven analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.50.

A number of research firms have recently commented on AMWL. Needham & Company LLC reissued a "hold" rating on shares of American Well in a research note on Wednesday, August 5th. TD Cowen lifted their price objective on shares of American Well from $5.00 to $8.00 and gave the stock a "hold" rating in a research note on Wednesday, May 6th. Truist Financial set a $12.00 target price on shares of American Well and gave the stock a "hold" rating in a report on Thursday. Morgan Stanley increased their target price on shares of American Well from $6.00 to $6.50 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of American Well in a report on Friday, July 17th.

American Well Stock Down 1.3%

Shares of AMWL opened at $12.29 on Tuesday. The firm has a 50-day moving average price of $10.41 and a 200 day moving average price of $7.67. The firm has a market capitalization of $203.40 million, a PE ratio of -2.58 and a beta of 1.68. American Well has a 52-week low of $3.71 and a 52-week high of $14.19.

American Well (NYSE:AMWL - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported ($0.59) EPS for the quarter, beating the consensus estimate of ($0.86) by $0.27. The firm had revenue of $52.05 million for the quarter, compared to analysts' expectations of $49.87 million. American Well had a negative net margin of 35.75% and a negative return on equity of 30.12%. On average, equities analysts expect that American Well will post -2.56 EPS for the current year.

Insider Transactions at American Well

In related news, insider Dmitry Zamansky sold 8,460 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 value of $78,931.80. Following the completion of the transaction, the insider owned 232,620 shares of the company's stock, valued at approximately $2,170,344.60. This trade represents a 3.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen J. Schlegel sold 9,750 shares of American Well stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $8.76, for a total transaction of $85,410.00. Following the transaction, the director owned 54,553 shares in the company, valued at approximately $477,884.28. The trade was a 15.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 29,225 shares of company stock valued at $268,623 over the last three months. Company insiders own 12.84% of the company's stock.

Hedge Funds Weigh In On American Well

A number of large investors have recently made changes to their positions in AMWL. Headlands Technologies LLC acquired a new position in American Well in the 2nd quarter valued at approximately $39,000. Engineers Gate Manager LP purchased a new stake in shares of American Well during the 2nd quarter worth about $101,000. Prelude Capital Management LLC purchased a new stake in shares of American Well during the 3rd quarter worth about $86,000. JPMorgan Chase & Co. lifted its holdings in shares of 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 buying an additional 2,081 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of American Well during the 4th quarter valued at about $74,000. Institutional investors and hedge funds 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.

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