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

Key Points

• Analysts have a consensus “Hold” rating on American Well, with five holds, one sell and one buy. The average 12-month price target is $9.50, below the stock’s reported opening price of $13.02.
• American Well’s latest quarterly results exceeded expectations, with adjusted EPS of -$0.59 versus the consensus estimate of -$0.86 and revenue of $52.05 million versus $49.87 million expected. Analysts still project a full-year loss of $2.56 per share.
• Institutional investors own 56.05% of the company and several firms increased their positions, while insiders sold 19,475 shares worth $190,804 over the past three months.

Shares of American Well Corporation (NYSE:AMWL - Get Free Report) have earned an average rating of "Hold" from the seven brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.50.

AMWL has been the subject of a number of research analyst reports. Wells Fargo & Company increased their price target on shares of American Well from $9.00 to $16.00 and gave the company an "overweight" rating in a report on Friday, July 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of American Well in a report on Friday, July 17th. Truist Financial set a $12.00 price target on American Well and gave the stock a "hold" rating in a research report on Thursday, August 13th. Finally, Needham & Company LLC reissued a "hold" rating on shares of American Well in a research report on Wednesday, August 5th.

Insider Activity

In other American Well news, insider Dmitry Zamansky sold 8,460 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total transaction of $78,931.80. Following the sale, the insider directly owned 232,620 shares of the company's stock, valued at approximately $2,170,344.60. This represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Phyllis Gotlib sold 3,573 shares of the stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $11.80, for a total transaction of $42,161.40. Following the sale, the insider owned 149,181 shares in the company, valued at approximately $1,760,335.80. This trade represents a 2.34% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 19,475 shares of company stock valued at $190,804 in the last three months. Insiders own 12.84% of the company's stock.

Institutional Investors Weigh In On American Well

Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. lifted its position in American Well by 280.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company's stock valued at $510,000 after purchasing an additional 47,745 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of American Well by 232.9% in 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 period. JPMorgan Chase & Co. boosted its position in shares of American Well by 16.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company's stock valued at $131,000 after purchasing an additional 2,081 shares in the last quarter. Norges Bank bought a new stake in American Well during the second quarter worth approximately $250,000. Finally, Engineers Gate Manager LP acquired a new position in shares of American Well in the 2nd quarter worth $101,000. 56.05% of the stock is owned by institutional investors and hedge funds.

American Well Price Performance

Shares of AMWL stock opened at $13.02 on Friday. The firm has a market cap of $215.51 million, a PE ratio of -2.73 and a beta of 1.71. The company has a 50-day moving average of $11.76 and a two-hundred day moving average of $8.65. American Well has a 1-year low of $3.71 and a 1-year high of $14.19.

American Well (NYSE:AMWL - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.59) EPS for the quarter, topping the consensus estimate of ($0.86) by $0.27. American Well had a negative net margin of 35.75% and a negative return on equity of 30.12%. The business had revenue of $52.05 million during the quarter, compared to the consensus estimate of $49.87 million. Sell-side analysts anticipate that American Well will post -2.56 EPS for the current fiscal year.

American Well Company Profile

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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