American Well's (AMWL) Hold Rating Reaffirmed at Needham & Company LLC

American Well (NYSE:AMWL - Get Free Report)'s stock had its "hold" rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued on Friday,Benzinga reports.

A number of other research firms have also recently issued reports on AMWL. Stifel Nicolaus raised their price target on shares of American Well from $9.00 to $10.00 and gave the stock a "hold" rating in a report on Thursday, February 13th. Truist Financial cut their price objective on American Well from $12.00 to $7.50 and set a "hold" rating on the stock in a report on Thursday, April 10th. Finally, Wells Fargo & Company upgraded American Well from an "equal weight" rating to an "overweight" rating and set a $15.00 target price on the stock in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, American Well currently has an average rating of "Hold" and an average price target of $11.00.

American Well Stock Down 15.0 %

American Well stock opened at $6.23 on Friday. American Well has a twelve month low of $5.00 and a twelve month high of $12.95. The business has a fifty day moving average of $7.76 and a two-hundred day moving average of $8.85. The firm has a market cap of $97.31 million, a P/E ratio of -0.45 and a beta of 1.22.

American Well (NYSE:AMWL - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($1.73) EPS for the quarter, topping the consensus estimate of ($3.09) by $1.36. The firm had revenue of $66.83 million during the quarter, compared to analyst estimates of $60.15 million. American Well had a negative net margin of 81.83% and a negative return on equity of 56.73%. Equities analysts expect that American Well will post -9.34 earnings per share for the current year.

Insider Activity at American Well

In other American Well news, insider Phyllis Gotlib sold 4,781 shares of American Well stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.80, for a total value of $42,072.80. Following the completion of the transaction, the insider now owns 147,998 shares of the company's stock, valued at approximately $1,302,382.40. The trade was a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 5,219 shares of company stock worth $46,454 in the last three months. Company insiders own 12.80% of the company's stock.

Hedge Funds Weigh In On American Well

Several institutional investors and hedge funds have recently modified their holdings of the business. Compagnie Lombard Odier SCmA acquired a new stake in American Well in the fourth quarter valued at approximately $45,000. Takeda Pharmaceutical Co. Ltd. acquired a new position in American Well during the fourth quarter worth $564,000. Norges Bank purchased a new position in American Well during the fourth quarter valued at $204,000. Geode Capital Management LLC lifted its holdings in American Well by 0.6% during the fourth 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. Finally, Senvest Management LLC lifted its stake in 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 buying an additional 48,800 shares in the last quarter. Hedge funds and other institutional investors own 56.05% of the company's stock.

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.

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