American Well Corporation (NYSE:AMWL) Receives $7.58 Average Target Price from Brokerages

Shares of American Well Corporation (NYSE:AMWL) have been assigned a consensus recommendation of “Hold” from the eight brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $7.5833.

Several brokerages have commented on AMWL. Stifel Nicolaus decreased their price objective on shares of American Well from $8.00 to $6.00 and set a “hold” rating for the company in a report on Wednesday, November 5th. Wells Fargo & Company decreased their price target on shares of American Well from $12.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Wall Street Zen cut American Well from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Morgan Stanley lowered their target price on American Well from $10.50 to $6.00 and set an “equal weight” rating for the company in a research note on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of American Well in a research report on Wednesday, October 8th.

American Well Stock Performance

Shares of AMWL stock opened at $5.18 on Monday. American Well has a fifty-two week low of $3.71 and a fifty-two week high of $12.95. The firm has a market cap of $84.76 million, a P/E ratio of -0.72 and a beta of 1.26. The business’s 50 day moving average price is $4.42 and its 200-day moving average price is $6.12.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($1.74) EPS for the quarter, topping analysts’ consensus estimates of ($1.83) by $0.09. The company had revenue of $56.29 million during the quarter, compared to analyst estimates of $54.56 million. American Well had a negative return on equity of 39.80% and a negative net margin of 42.80%. As a group, equities analysts predict that American Well will post -9.34 EPS for the current year.

Insider Activity

In other news, insider Dmitry Zamansky sold 6,243 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total value of $30,278.55. Following the sale, the insider directly owned 191,468 shares of the company’s stock, valued at $928,619.80. The trade was a 3.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have sold 14,633 shares of company stock worth $67,972 in the last ninety days. 11.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMWL. Headlands Technologies LLC bought a new stake in American Well in the second quarter worth $39,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of American Well during the third quarter valued at $62,000. Prelude Capital Management LLC purchased a new position in shares of American Well in the 3rd quarter worth about $86,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of American Well in the 2nd quarter worth about $89,000. Finally, Engineers Gate Manager LP bought a new position in American Well in the 2nd quarter worth about $101,000. Institutional investors own 56.05% of the company’s stock.

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.