American Well’s (AMWL) “Buy” Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of American Well (NYSE:AMWL – Get Rating) in a research note released on Wednesday morning, Benzinga reports. They currently have a $5.00 target price on the stock.

A number of other research firms also recently weighed in on AMWL. Morgan Stanley decreased their price objective on American Well from $6.00 to $5.00 and set an overweight rating on the stock in a report on Monday, March 13th. Bank of America raised American Well from a neutral rating to a buy rating and set a $4.20 price objective on the stock in a report on Wednesday, January 4th. Cowen decreased their price objective on American Well from $9.00 to $5.00 in a report on Monday, February 27th. Needham & Company LLC reaffirmed a hold rating on shares of American Well in a report on Thursday, February 23rd. Finally, Piper Sandler downgraded American Well from an overweight rating to a neutral rating and decreased their price objective for the company from $5.00 to $3.50 in a report on Monday, February 27th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $4.53.

American Well Stock Performance

Shares of AMWL opened at $2.38 on Wednesday. American Well has a 12-month low of $2.28 and a 12-month high of $5.43. The stock’s 50-day moving average price is $3.41 and its 200 day moving average price is $3.58.

American Well (NYSE:AMWL – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.03. American Well had a negative return on equity of 23.77% and a negative net margin of 97.73%. The firm had revenue of $79.20 million for the quarter, compared to analyst estimates of $78.05 million. During the same period in the previous year, the company posted ($0.18) earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. Equities analysts predict that American Well will post -0.77 EPS for the current year.

Insiders Place Their Bets

In other American Well news, VP Bradford Gay sold 12,120 shares of the company’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $3.96, for a total transaction of $47,995.20. Following the transaction, the vice president now owns 738,192 shares of the company’s stock, valued at approximately $2,923,240.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other American Well news, CEO Ido Schoenberg sold 132,006 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $3.24, for a total transaction of $427,699.44. Following the transaction, the chief executive officer now owns 1,474,027 shares of the company’s stock, valued at approximately $4,775,847.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Bradford Gay sold 12,120 shares of the company’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $3.96, for a total transaction of $47,995.20. Following the sale, the vice president now owns 738,192 shares of the company’s stock, valued at approximately $2,923,240.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 211,298 shares of company stock valued at $676,446. 13.91% of the stock is currently owned by corporate insiders.

Institutional Trading of American Well

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd raised its position in shares of American Well by 175.1% during the 1st quarter. Point72 Hong Kong Ltd now owns 8,087 shares of the company’s stock valued at $34,000 after acquiring an additional 5,147 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of American Well during the 1st quarter valued at $43,000. Corient Capital Partners LLC bought a new stake in shares of American Well during the 2nd quarter valued at $46,000. Point72 Middle East FZE bought a new stake in shares of American Well during the 4th quarter valued at $33,000. Finally, Delphia USA Inc. bought a new stake in shares of American Well during the 1st quarter valued at $50,000. Institutional investors own 46.30% of the company’s stock.

American Well Company Profile

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American Well Corporation operates digital care delivery enablement platform in the United States and internationally. Its platform connects and enables providers, insurers, patients, and innovators to deliver access to care. The company products offer urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, and home settings.