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

Key Points

• American Well has a consensus analyst rating of “Hold” from five covering analysts, with an average 12-month target price of $8.60.
• Recent analyst actions were mixed: Wells Fargo boosted its target to $16 and rated the stock Overweight, while Weiss Ratings reiterated a Sell recommendation.
• Insiders have been selling shares, including director Stephen J. Schlegel and insider Phyllis Gotlib, while institutional investors such as Goldman Sachs and Jane Street significantly increased their holdings.

Shares of American Well Corporation (NYSE:AMWL - Get Free Report) have received a consensus rating of "Hold" from the five analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $8.60.

AMWL has been the subject of a number of research analyst reports. Truist Financial set a $7.50 target price on American Well in a research note on Monday, June 8th. Morgan Stanley boosted their target price on shares of American Well from $6.00 to $6.50 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Wells Fargo & Company upped their price objective on shares of American Well from $9.00 to $16.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. TD Cowen raised their target price 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. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of American Well in a report on Friday, July 17th.

Insider Activity

In other American Well news, Director Stephen J. Schlegel sold 9,750 shares of American Well stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $8.76, for a total value of $85,410.00. Following the completion of the sale, the director owned 54,553 shares of the company's stock, valued at approximately $477,884.28. This trade represents a 15.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Phyllis Gotlib sold 6,677 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total transaction of $62,296.41. Following the transaction, the insider owned 152,754 shares in the company, valued at approximately $1,425,194.82. This trade represents a 4.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 29,225 shares of company stock worth $268,623 over the last 90 days. 12.84% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American Well

Several institutional investors have recently made changes to their positions in AMWL. Goldman Sachs Group Inc. boosted its holdings in shares of American Well by 280.6% in the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company's stock worth $510,000 after buying an additional 47,745 shares during the last quarter. Jane Street Group LLC increased its holdings in American Well by 232.9% during the first quarter. Jane Street Group LLC now owns 64,112 shares of the company's stock valued at $505,000 after buying an additional 44,852 shares during the last quarter. JPMorgan Chase & Co. raised its position in American Well by 16.5% in the second quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company's stock worth $131,000 after acquiring an additional 2,081 shares during the period. Norges Bank bought a new position in American Well in the second quarter worth approximately $250,000. Finally, Engineers Gate Manager LP purchased a new position in shares of American Well during the 2nd quarter worth $101,000. Institutional investors own 56.05% of the company's stock.

American Well Trading Down 8.2%

NYSE:AMWL opened at $10.70 on Friday. The company has a 50-day moving average price of $9.23 and a 200-day moving average price of $6.83. American Well has a 12 month low of $3.71 and a 12 month high of $13.45. The stock has a market cap of $177.10 million, a price-to-earnings ratio of -1.97 and a beta of 1.69.

American Well (NYSE:AMWL - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate 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. Equities analysts forecast that American Well will post -2.68 EPS for the current fiscal year.

About American Well

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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