Brokerages Set American Well Corporation (NYSE:AMWL) Price Target at $7.58

Shares of American Well Corporation (NYSE:AMWL) have received a consensus recommendation of “Hold” from the eight brokerages that are presently covering the stock, Marketbeat reports. One equities 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 1-year price target among analysts that have issued ratings on the stock in the last year is $7.5833.

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

Insider Buying and Selling

In other American Well news, insider Dmitry Zamansky sold 6,243 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total transaction of $30,278.55. Following the completion of the sale, the insider directly owned 191,468 shares in the company, valued at $928,619.80. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 14,633 shares of company stock worth $67,972 in the last three months. 11.82% of the stock is owned by insiders.

Institutional Trading of American Well

Several institutional investors and hedge funds have recently modified their holdings of AMWL. Headlands Technologies LLC acquired a new stake in American Well in the second quarter valued at about $39,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of American Well in the 3rd quarter valued at approximately $62,000. Prelude Capital Management LLC acquired a new stake in shares of American Well in the 3rd quarter valued at approximately $86,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of American Well during the 2nd quarter valued at approximately $89,000. Finally, Engineers Gate Manager LP acquired a new position in American Well during the 2nd quarter worth approximately $101,000. 56.05% of the stock is currently owned by institutional investors.

American Well Stock Up 0.7%

NYSE AMWL opened at $5.21 on Monday. The firm has a 50-day moving average price of $4.42 and a two-hundred day moving average price of $6.10. American Well has a 12-month low of $3.71 and a 12-month high of $12.95. The company has a market capitalization of $85.21 million, a P/E ratio of -0.72 and a beta of 1.26.

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

American Well Company Profile

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.