American Well Corporation (NYSE:AMWL) Receives $7.30 Average Target Price from Brokerages

American Well Corporation (NYSE:AMWL) has been assigned an average recommendation of “Hold” from the six research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $7.30.

A number of equities research analysts recently issued reports on AMWL shares. Stifel Nicolaus lowered their price objective on American Well from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Friday, February 13th. TD Cowen boosted their target price on American Well from $5.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of American Well in a report on Wednesday, January 21st. Wall Street Zen upgraded American Well from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Morgan Stanley boosted their price objective on American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th.

American Well Trading Down 0.2%

Shares of NYSE:AMWL opened at $7.72 on Friday. The company has a 50 day moving average of $6.01 and a 200 day moving average of $5.14. The stock has a market cap of $127.68 million, a P/E ratio of -1.42 and a beta of 1.52. American Well has a 12 month low of $3.71 and a 12 month high of $9.15.

American Well (NYSE:AMWL) last posted its earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.11. The business had revenue of $54.88 million for the quarter, compared to analysts’ expectations of $51.54 million. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. On average, equities analysts forecast that American Well will post -2.68 earnings per share for the current fiscal year.

Insider Transactions at American Well

In other American Well news, insider Dmitry Zamansky sold 5,575 shares of the business’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 completion of the transaction, the insider owned 241,080 shares of the company’s stock, valued at $1,277,724. The trade was a 2.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 9,664 shares of company stock worth $51,219 in the last three months. Insiders own 11.82% of the company’s stock.

Institutional Trading of American Well

Hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC purchased a new position in American Well in the second quarter worth $39,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in American Well during the third quarter valued at about $62,000. Occudo Quantitative Strategies LP bought a new stake in American Well during the fourth quarter worth about $74,000. NewEdge Advisors LLC purchased a new position in shares of American Well in the 4th quarter worth about $82,000. Finally, Prelude Capital Management LLC purchased a new position in shares of American Well in the 3rd quarter worth about $86,000. 56.05% of the stock is owned by institutional investors.

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.