American Well (NYSE:AMWL) Price Target Raised to $12.00

American Well (NYSE:AMWL) had its price objective hoisted by Stifel Nicolaus from $11.00 to $12.00 in a research note released on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other equities analysts have also recently weighed in on AMWL. Truist Financial set a $12.00 price target on shares of American Well and gave the company a “hold” rating in a report on Thursday, August 13th. Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research note on Wednesday, August 5th. Wells Fargo & Company boosted their price objective on shares of American Well from $9.00 to $16.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of American Well in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.30.

American Well Stock Down 1.2%

AMWL stock traded down $0.14 on Wednesday, reaching $11.97. 110,586 shares of the company’s stock were exchanged, compared to its average volume of 116,415. The stock has a fifty day moving average of $12.97 and a 200-day moving average of $9.10. American Well has a twelve month low of $3.71 and a twelve month high of $15.16. The firm has a market cap of $198.10 million, a PE ratio of -3.48 and a beta of 1.72.

American Well (NYSE:AMWL) last released its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.78) by $0.11. American Well had a negative return on equity of 30.12% and a negative net margin of 35.75%. The firm had revenue of $48.99 million during the quarter, compared to analysts’ expectations of $47.28 million. On average, equities research analysts predict that American Well will post -2.46 EPS for the current fiscal year.

Insider Buying and Selling at American Well

In related news, insider Phyllis Gotlib sold 6,677 shares of American Well stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $13.00, for a total value of $86,801.00. Following the transaction, the insider owned 142,504 shares in the company, valued at approximately $1,852,552. This trade represents a 4.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dmitry Zamansky sold 8,442 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $13.00, for a total value of $109,746.00. Following the sale, the insider directly owned 224,178 shares of the company’s stock, valued at approximately $2,914,314. This trade represents a 3.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,457 shares of company stock worth $248,519 over the last ninety days. Corporate insiders own 12.84% of the company’s stock.

Hedge Funds Weigh In On American Well

A hedge fund recently bought a new position in American Well stock. Candriam S.C.A. purchased a new position in shares of American Well Corporation (NYSE:AMWL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,441 shares of the company’s stock, valued at approximately $142,000. Candriam S.C.A. owned 0.06% of American Well at the end of the most recent quarter. 56.05% of the stock is currently owned by institutional investors.

American Well Company Profile

American Well, doing business as Amwell, is a digital healthcare company that provides technology and services for virtual care. Its platform connects patients with healthcare professionals through video and other digital channels, supporting services such as urgent care, behavioral health, primary care and specialty consultations.

Amwell primarily serves health systems, health plans, employers and other healthcare organizations. Its offerings include the Amwell Converge platform, which is designed to help organizations develop, manage and integrate digital care programs with existing clinical workflows and healthcare systems.

Founded in 2006 by brothers Ido and Roy Schoenberg, the company was formerly known as American Well and adopted the Amwell brand in 2020.