Key Points
- Insider sale: American Well insider Phyllis Gotlib sold 6,677 shares on July 1 at an average price of $9.33, totaling about $62,296. This reduced her direct ownership by 4.19%.
- Stock and earnings update: AMWL opened at $9.40, near its 52-week high of $9.96, with a market cap of $155.55 million. The company recently beat quarterly EPS and revenue expectations, though it still posted a loss.
- Wall Street outlook: Analysts currently rate American Well a Hold on average, with a consensus price target of $7.20. Recent reports have lifted targets somewhat, but sentiment remains mixed overall.
American Well Corporation (NYSE:AMWL - Get Free Report) insider Phyllis Gotlib sold 6,677 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total value of $62,296.41. Following the transaction, the insider directly owned 152,754 shares of the company's stock, valued at approximately $1,425,194.82. This trade represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Phyllis Gotlib also recently made the following trade(s):
- On Monday, June 1st, Phyllis Gotlib sold 3,573 shares of American Well stock. The shares were sold at an average price of $9.74, for a total value of $34,801.02.
American Well Stock Performance
AMWL stock opened at $9.40 on Thursday. The company has a market capitalization of $155.55 million, a price-to-earnings ratio of -1.73 and a beta of 1.69. American Well Corporation has a fifty-two week low of $3.71 and a fifty-two week high of $9.96. The stock has a fifty day moving average of $8.04 and a 200-day moving average of $6.17.
American Well (NYSE:AMWL - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.77) by $0.11. The business had revenue of $54.88 million for the quarter, compared to analysts' expectations of $51.54 million. American Well had a negative return on equity of 32.11% and a negative net margin of 37.02%. Equities analysts predict that American Well Corporation will post -2.68 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in AMWL. Headlands Technologies LLC bought a new position in American Well in the 2nd quarter worth about $39,000. Occudo Quantitative Strategies LP purchased a new position in shares of American Well during the fourth quarter valued at approximately $74,000. NewEdge Advisors LLC purchased a new stake in shares of American Well in the 4th quarter worth about $82,000. Prelude Capital Management LLC purchased a new stake in American Well in the third quarter worth about $86,000. Finally, Engineers Gate Manager LP bought a new stake in shares of American Well during the second quarter valued at approximately $101,000. 56.05% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of American Well from $5.00 to $8.00 and gave the company a "hold" rating in a research report on Wednesday, May 6th. Truist Financial set a $7.50 price objective on shares of American Well in a report on Monday, June 8th. Morgan Stanley lifted their price objective on shares of American Well from $6.00 to $6.50 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen raised shares of American Well from a "sell" rating to a "hold" rating in a report on Sunday, March 22nd. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $7.20.
Check Out Our Latest Analysis on AMWL
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.
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