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

Key Points

• American Well has a consensus broker rating of "Hold", based on six analysts: one sell, four hold, and one buy. The average 1-year price target is $7.30.
• The company recently beat quarterly expectations, reporting EPS of -$0.66 versus estimates of -$0.77 and revenue of $54.88 million versus expected $51.54 million.
• Insider selling has continued, with Dmitry Zamansky selling 5,575 shares in early April, while institutional ownership remains significant at 56.05%.

Shares of American Well Corporation (NYSE:AMWL - Get Free Report) have received a consensus rating of "Hold" from the six ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $7.30.

A number of research firms have recently weighed in on AMWL. Wall Street Zen raised shares of American Well from a "sell" rating to a "hold" rating in a research report on Sunday, March 22nd. Morgan Stanley boosted their price objective on shares of American Well from $6.00 to $6.50 and gave the company an "equal weight" rating in a research report on Wednesday. TD Cowen boosted their target price on shares of American Well from $5.00 to $8.00 and gave the company a "hold" rating in a report on Wednesday. Stifel Nicolaus lowered their target price on shares of American Well from $6.00 to $5.00 and set a "hold" rating for the company in a report on Friday, February 13th. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of American Well in a report on Wednesday, January 21st.

Insider Transactions at American Well

In related news, insider Dmitry Zamansky sold 5,575 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $5.30, for a total value of $29,547.50. Following the completion of the sale, the insider directly owned 241,080 shares in the company, valued at approximately $1,277,724. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 9,664 shares of company stock valued at $51,219 in the last ninety days. 11.82% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American Well

A number of institutional investors have recently bought and sold shares of AMWL. Headlands Technologies LLC purchased a new stake in American Well in the second quarter valued at approximately $39,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in American Well in the third quarter valued at approximately $62,000. Occudo Quantitative Strategies LP purchased a new stake in American Well in the fourth quarter valued at approximately $74,000. NewEdge Advisors LLC purchased a new stake in American Well in the fourth quarter valued at approximately $82,000. Finally, Prelude Capital Management LLC purchased a new stake in American Well during the third quarter worth approximately $86,000. 56.05% of the stock is currently owned by hedge funds and other institutional investors.

American Well Price Performance

NYSE:AMWL opened at $7.94 on Friday. The firm has a 50 day simple moving average of $5.77 and a 200-day simple moving average of $5.06. The firm has a market cap of $131.32 million, a PE ratio of -1.46 and a beta of 1.52. American Well has a 1-year low of $3.71 and a 1-year high of $9.15.

American Well (NYSE:AMWL - Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.66) earnings per share for the quarter, beating analysts' consensus estimates of ($0.77) by $0.11. The business had revenue of $54.88 million during the quarter, compared to analyst estimates of $51.54 million. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. As a group, sell-side analysts expect that American Well will post -2.68 earnings per share 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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