American Well Corporation (NYSE:AMWL) Given Consensus Recommendation of "Hold" by Brokerages

American Well Corporation (NYSE:AMWL - Get Free Report) has been assigned an average recommendation of "Hold" from the seven brokerages that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $9.67.

AMWL has been the topic of several research analyst reports. Stifel Nicolaus dropped their price objective on American Well from $10.00 to $8.00 and set a "hold" rating on the stock in a research note on Friday, May 2nd. Truist Financial lowered their price objective on American Well from $12.00 to $7.50 and set a "hold" rating for the company in a research report on Thursday, April 10th. UBS Group lowered their price objective on American Well from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Needham & Company LLC reissued a "hold" rating on shares of American Well in a research report on Friday, May 2nd. Finally, Piper Sandler reissued a "neutral" rating and issued a $8.00 price objective (down previously from $10.00) on shares of American Well in a research report on Friday, May 23rd.

Insider Transactions at American Well

In other American Well news, insider Phyllis Gotlib sold 4,782 shares of American Well stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.61, for a total transaction of $31,609.02. Following the completion of the sale, the insider now owns 141,849 shares of the company's stock, valued at approximately $937,621.89. The trade was a 3.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 11.82% of the company's stock.

Hedge Funds Weigh In On American Well

A number of institutional investors have recently modified their holdings of AMWL. Takeda Pharmaceutical Co. Ltd. purchased a new position in shares of American Well in the 4th quarter valued at about $564,000. Norges Bank purchased a new position in shares of American Well in the 4th quarter valued at about $204,000. Geode Capital Management LLC increased its stake in shares of American Well by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 147,925 shares of the company's stock valued at $1,073,000 after purchasing an additional 922 shares in the last quarter. Senvest Management LLC increased its stake in shares of American Well by 3.9% in the 4th quarter. Senvest Management LLC now owns 1,300,611 shares of the company's stock valued at $9,429,000 after purchasing an additional 48,800 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of American Well by 7.4% in the 4th quarter. Northern Trust Corp now owns 29,021 shares of the company's stock valued at $210,000 after purchasing an additional 1,992 shares in the last quarter. Hedge funds and other institutional investors own 56.05% of the company's stock.

American Well Stock Performance

AMWL stock traded up $0.04 during midday trading on Thursday, reaching $6.85. 23,119 shares of the company traded hands, compared to its average volume of 84,981. American Well has a 52-week low of $5.00 and a 52-week high of $12.95. The business has a 50 day moving average of $7.13 and a 200-day moving average of $8.33. The firm has a market capitalization of $106.85 million, a price-to-earnings ratio of -0.67 and a beta of 1.18.

American Well (NYSE:AMWL - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($1.73) earnings per share for the quarter, topping the consensus estimate of ($3.09) by $1.36. American Well had a negative return on equity of 48.36% and a negative net margin of 59.13%. The firm had revenue of $66.83 million for the quarter, compared to the consensus estimate of $60.15 million. Research analysts anticipate that American Well will post -9.34 earnings per share for the current year.

American Well Company Profile

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.