American Well (NYSE:AMWL) Insider Phyllis Gotlib Sells 3,573 Shares

Key Points

• Insider sale: Phyllis Gotlib sold 3,573 American Well shares at an average price of $11.80, generating $42,161.40. Her remaining stake was 149,181 shares, representing a 2.34% reduction in ownership.
• Stock performance: AMWL traded at $13.28, near its 52-week high of $14.19, with its 50-day and 200-day moving averages at $11.23 and $8.31, respectively.
• Mixed outlook: American Well exceeded quarterly revenue and EPS expectations but remains unprofitable. Analysts maintain a consensus “Hold” rating with a $9.50 target price, below the reported trading price.

American Well Corporation (NYSE:AMWL - Get Free Report) insider Phyllis Gotlib sold 3,573 shares of the company's stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $11.80, for a total transaction of $42,161.40. Following the completion of the transaction, the insider owned 149,181 shares in the company, valued at $1,760,335.80. This trade represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Phyllis Gotlib also recently made the following trade(s):

• On Wednesday, July 1st, Phyllis Gotlib sold 6,677 shares of American Well stock. The stock was sold at an average price of $9.33, for a total transaction of $62,296.41.

American Well Price Performance

American Well stock traded up $0.45 during midday trading on Thursday, hitting $13.28. The company's stock had a trading volume of 107,140 shares, compared to its average volume of 99,077. American Well Corporation has a 1-year low of $3.71 and a 1-year high of $14.19. The company has a 50-day moving average price of $11.23 and a two-hundred day moving average price of $8.31. The company has a market cap of $219.78 million, a price-to-earnings ratio of -2.78 and a beta of 1.71.

American Well (NYSE:AMWL - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $52.05 million for the quarter, compared to analyst estimates of $49.87 million. Sell-side analysts forecast that American Well Corporation will post -2.56 EPS for the current year.

Analyst Ratings Changes

AMWL has been the topic of a number of recent research reports. Truist Financial set a $12.00 price objective on American Well and gave the stock a "hold" rating in a research note on Thursday, August 13th. Wells Fargo & Company increased their target price on American Well from $9.00 to $16.00 and gave the stock an "overweight" rating in a report on Friday, July 17th. Weiss Ratings restated a "sell (d-)" rating on shares of American Well in a research report on Friday, July 17th. Morgan Stanley boosted their price target on American Well from $6.00 to $6.50 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of American Well in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $9.50.

Hedge Funds Weigh In On American Well

A number of institutional investors have recently modified their holdings of AMWL. Headlands Technologies LLC acquired a new position in American Well during the second quarter worth about $39,000. Engineers Gate Manager LP bought a new stake in shares of American Well during the 2nd quarter valued at approximately $101,000. Prelude Capital Management LLC acquired a new position in American Well during the 3rd quarter worth approximately $86,000. JPMorgan Chase & Co. lifted its stake in American Well by 16.5% in 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 during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new stake in American Well in the fourth quarter valued at approximately $74,000. Institutional investors and hedge funds own 56.05% of the company's stock.

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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