American Well (NYSE:AMWL) Price Target Cut to $1.00

American Well (NYSE:AMWL) had its price target lowered by Morgan Stanley from $1.75 to $1.00 in a report published on Monday, Benzinga reports. The firm currently has an equal weight rating on the stock.

American Well Stock Performance

AMWL opened at $0.51 on Monday. The firm has a market cap of $148.65 million, a P/E ratio of -0.21 and a beta of 0.99. The firm has a 50-day moving average of $0.93 and a 200 day moving average of $1.11. American Well has a fifty-two week low of $0.50 and a fifty-two week high of $2.74.

American Well (NYSE:AMWL) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.02. The business had revenue of $70.68 million for the quarter, compared to the consensus estimate of $70.16 million. American Well had a negative net margin of 260.63% and a negative return on equity of 40.19%. The company’s revenue was down 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.22) earnings per share. Equities research analysts predict that American Well will post -0.7 earnings per share for the current fiscal year.

Insider Buying and Selling at American Well

In other American Well news, CFO Robert Shepardson sold 319,214 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $1.09, for a total transaction of $347,943.26. Following the sale, the chief financial officer now directly owns 2,845,148 shares of the company’s stock, valued at $3,101,211.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, COO Kurt Knight sold 283,079 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $308,556.11. Following the sale, the chief operating officer now directly owns 3,114,004 shares of the company’s stock, valued at $3,394,264.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Shepardson sold 319,214 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $347,943.26. Following the completion of the sale, the chief financial officer now directly owns 2,845,148 shares in the company, valued at $3,101,211.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,169,038 shares of company stock valued at $1,267,410 over the last three months. 12.94% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American Well

A number of institutional investors and hedge funds have recently modified their holdings of AMWL. Swiss National Bank lifted its holdings in shares of American Well by 16.7% in the first quarter. Swiss National Bank now owns 134,500 shares of the company’s stock worth $566,000 after buying an additional 19,200 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of American Well by 272.5% in the first quarter. JPMorgan Chase & Co. now owns 483,351 shares of the company’s stock worth $2,036,000 after buying an additional 353,598 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of American Well by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 679,534 shares of the company’s stock worth $2,861,000 after buying an additional 10,013 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of American Well by 19.6% in the first quarter. Bank of Montreal Can now owns 106,670 shares of the company’s stock worth $454,000 after buying an additional 17,477 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of American Well by 41.5% in the first quarter. MetLife Investment Management LLC now owns 90,861 shares of the company’s stock worth $383,000 after purchasing an additional 26,662 shares during the last quarter. 56.05% of the stock is owned by hedge funds and other institutional investors.

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.