Analysts Set American Well Corporation (NYSE:AMWL) PT at $7.30

American Well Corporation (NYSE:AMWL) has earned an average recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $7.30.

Several analysts have issued reports on AMWL shares. Wall Street Zen upgraded American Well from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. TD Cowen boosted their price objective on American Well from $5.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Morgan Stanley boosted 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. Stifel Nicolaus cut their price objective on American Well from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of American Well in a research note on Wednesday, January 21st.

Insiders Place Their Bets

In other American Well news, insider Dmitry Zamansky sold 5,575 shares of American Well stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $5.30, for a total transaction of $29,547.50. Following the transaction, the insider owned 241,080 shares of the company’s stock, valued at $1,277,724. The trade was a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders sold 9,664 shares of company stock worth $51,219. Insiders own 11.82% of the company’s stock.

Hedge Funds Weigh In On American Well

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in American Well by 16.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock valued at $131,000 after acquiring an additional 2,081 shares in the last quarter. Geode Capital Management LLC grew its stake in American Well by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 152,742 shares of the company’s stock valued at $750,000 after acquiring an additional 3,450 shares in the last quarter. State Street Corp grew its stake in American Well by 7.8% during the 4th quarter. State Street Corp now owns 52,299 shares of the company’s stock valued at $257,000 after acquiring an additional 3,800 shares in the last quarter. Headlands Technologies LLC purchased a new position in American Well during the 2nd quarter valued at about $39,000. Finally, Two Sigma Investments LP grew its stake in American Well by 22.6% during the 3rd quarter. Two Sigma Investments LP now owns 46,329 shares of the company’s stock valued at $285,000 after acquiring an additional 8,553 shares in the last quarter. Hedge funds and other institutional investors own 56.05% of the company’s stock.

American Well Trading Down 2.4%

NYSE AMWL opened at $7.59 on Friday. The stock’s 50-day moving average price is $6.05 and its two-hundred day moving average price is $5.16. The company has a market cap of $125.61 million, a PE ratio of -1.40 and a beta of 1.52. American Well has a 1 year low of $3.71 and a 1 year high of $9.15.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.11. The firm had revenue of $54.88 million for the quarter, compared to the consensus estimate of $51.54 million. American Well had a negative return on equity of 32.11% and a negative net margin of 37.02%. Research analysts forecast that American Well will post -2.68 EPS for the current fiscal 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.