American Well (NYSE:AMWL) Director Stephen Schlegel Sells 9,750 Shares of Stock

American Well Corporation (NYSE:AMWL) Director Stephen Schlegel sold 9,750 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $8.76, for a total value of $85,410.00. Following the transaction, the director owned 54,553 shares of the company’s stock, valued at $477,884.28. This represents a 15.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

American Well Price Performance

Shares of NYSE AMWL opened at $8.77 on Tuesday. The firm has a market capitalization of $145.16 million, a PE ratio of -1.62 and a beta of 1.69. American Well Corporation has a 1-year low of $3.71 and a 1-year high of $9.96. The business’s fifty day moving average price is $7.33 and its two-hundred day moving average price is $5.78.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.11. The company had revenue of $54.88 million during 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%. Equities research analysts expect that American Well Corporation will post -2.68 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Well

Institutional investors and hedge funds have recently bought and sold shares of the stock. Monaco Asset Management SAM acquired a new position in shares of American Well during the fourth quarter valued at approximately $338,000. Headlands Technologies LLC acquired a new stake in American Well in the second quarter worth approximately $39,000. Rock Point Advisors LLC boosted its stake in American Well by 49.3% during the 3rd 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. GSA Capital Partners LLP acquired a new position in shares of American Well during the 3rd quarter valued at $173,000. Finally, NewEdge Advisors LLC acquired a new position in shares of American Well during the 4th quarter valued at $82,000. Institutional investors own 56.05% of the company’s stock.

Analyst Ratings Changes

AMWL has been the subject of several recent analyst reports. TD Cowen upped their target price on shares of American Well from $5.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Truist Financial set a $7.50 price objective on American Well in a research report on Monday, June 8th. Morgan Stanley increased their price objective on American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen upgraded American Well from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. One 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. According to data from MarketBeat.com, American Well has a consensus rating of “Hold” and an average price target of $7.20.

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.