Key Points
- Director Stephen Schlegel sold 9,750 shares of American Well stock on June 11 for about $85,410 at an average price of $8.76, reducing his ownership by 15.16%.
- AMWL shares were down 3.7% and recently traded around $8.77, near the top of its 52-week range of $3.71 to $9.96.
- The company recently beat quarterly expectations, reporting a smaller-than-expected loss and higher revenue, while analysts currently rate the stock Hold on average with a $7.20 price target.
American Well Corporation (NYSE:AMWL - Get Free Report) Director Stephen Schlegel sold 9,750 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $8.76, for a total transaction of $85,410.00. Following the completion of the sale, the director directly owned 54,553 shares of the company's stock, valued at $477,884.28. The trade was a 15.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
American Well Trading Down 3.7%
NYSE:AMWL opened at $8.77 on Tuesday. The company has a 50-day moving average of $7.33 and a 200-day moving average of $5.78. The firm has a market cap of $145.16 million, a price-to-earnings ratio of -1.62 and a beta of 1.69. American Well Corporation has a twelve month low of $3.71 and a twelve month high of $9.96.
American Well (NYSE:AMWL - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.66) EPS for the quarter, topping analysts' consensus estimates of ($0.77) by $0.11. The business had revenue of $54.88 million for the quarter, compared to the consensus estimate 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, research analysts forecast that American Well Corporation will post -2.68 earnings per share for the current year.
Wall Street Analyst Weigh In
AMWL has been the subject of several research reports. Morgan Stanley raised their price objective on American Well from $6.00 to $6.50 and gave the stock an "equal weight" rating in a research note on Wednesday, May 6th. Truist Financial set a $7.50 target price on American Well in a report on Monday, June 8th. Wall Street Zen upgraded American Well from a "sell" rating to a "hold" rating in a research report on Sunday, March 22nd. Finally, TD Cowen lifted their price target on American Well from $5.00 to $8.00 and gave the stock a "hold" rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $7.20.
View Our Latest Stock Analysis on AMWL
Hedge Funds Weigh In On American Well
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Senvest Management LLC grew its position in American Well by 213.3% during the 1st quarter. Senvest Management LLC now owns 1,136,558 shares of the company's stock worth $5,978,000 after purchasing an additional 773,834 shares in the last quarter. Rock Point Advisors LLC lifted its holdings in shares of American Well by 49.3% in the third quarter. Rock Point Advisors LLC now owns 259,171 shares of the company's stock valued at $1,594,000 after purchasing an additional 85,581 shares in the last quarter. Monaco Asset Management SAM acquired a new stake in shares of American Well in the fourth quarter worth $338,000. Squarepoint Ops LLC boosted its position in shares of American Well by 74.5% in the fourth quarter. Squarepoint Ops LLC now owns 115,061 shares of the company's stock worth $565,000 after buying an additional 49,135 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of American Well by 280.6% during the first quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company's stock valued at $510,000 after buying an additional 47,745 shares in the last quarter. Institutional investors and hedge funds own 56.05% of the company's stock.
About American Well
(
Get Free Report)
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.
Further Reading
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