American Well (NYSE:AMWL) Issues Quarterly Earnings Results

Key Points

• American Well reported EPS of ($0.66), beating the consensus of ($0.77), and revenue of $54.88 million versus the $51.54 million estimate, but still recorded a negative net margin of 38.38% and a negative return on equity of 35.33%.
• Shares fell about 0.9% to $6.36 after the release; the stock has a market cap of roughly $105.3 million, a 1‑year range of $3.71–$9.15, and 50/200‑day moving averages of $5.67/$5.03.
• Analyst sentiment is mixed with an average rating of Hold and a $7.40 target, while insiders have recently sold shares and institutional investors now own about 56% of the company.

American Well (NYSE:AMWL - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.66) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.11, FiscalAI reports. American Well had a negative net margin of 38.38% and a negative return on equity of 35.33%. The firm had revenue of $54.88 million during the quarter, compared to the consensus estimate of $51.54 million.

American Well Stock Down 0.9%

Shares of AMWL traded down $0.06 during mid-day trading on Tuesday, hitting $6.36. The company had a trading volume of 102,941 shares, compared to its average volume of 82,918. The business's 50-day simple moving average is $5.67 and its 200-day simple moving average is $5.03. American Well has a 1-year low of $3.71 and a 1-year high of $9.15. The stock has a market cap of $105.27 million, a PE ratio of -1.07 and a beta of 1.52.

Wall Street Analysts Forecast Growth

AMWL has been the topic of several analyst reports. Wall Street Zen raised shares of American Well from a "sell" rating to a "hold" rating in a research note on Sunday, March 22nd. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of American Well in a research note on Wednesday, January 21st. Finally, Stifel Nicolaus decreased their price target on shares of American Well from $6.00 to $5.00 and set a "hold" rating on the stock in a research note on Friday, February 13th. One research analyst has rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, American Well has an average rating of "Hold" and an average target price of $7.40.

Insider Activity

In related news, insider Dmitry Zamansky sold 5,575 shares of the firm'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 sale, the insider directly owned 241,080 shares of the company's stock, valued at approximately $1,277,724. This trade represents a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 9,664 shares of company stock valued at $51,219 over the last 90 days. 12.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Well

Hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC lifted its position in American Well by 74.5% during the fourth quarter. Squarepoint Ops LLC now owns 115,061 shares of the company's stock valued at $565,000 after buying an additional 49,135 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in American Well by 280.6% during the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company's stock valued at $510,000 after buying an additional 47,745 shares in the last quarter. Jane Street Group LLC lifted its position 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 in the last quarter. XTX Topco Ltd acquired a new position in American Well during the fourth quarter valued at approximately $215,000. Finally, Marshall Wace LLP lifted its position in American Well by 76.9% during the fourth quarter. Marshall Wace LLP now owns 87,447 shares of the company's stock valued at $429,000 after buying an additional 38,018 shares in the last quarter. 56.05% of the stock is owned by institutional investors and hedge funds.

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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