American Well (AMWL) Set to Announce Quarterly Earnings on Wednesday

American Well (NYSE:AMWL) is set to post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect American Well to post earnings of ($3.32) per share for the quarter. American Well has set its FY 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

American Well (NYSE:AMWL) last released its quarterly earnings results on Wednesday, July 31st. The company reported ($3.36) earnings per share for the quarter, topping the consensus estimate of ($3.94) by $0.58. American Well had a negative return on equity of 50.36% and a negative net margin of 120.44%. The company had revenue of $62.79 million for the quarter, compared to analysts’ expectations of $60.78 million. During the same period in the previous year, the business posted ($4.60) earnings per share. On average, analysts expect American Well to post $-13 EPS for the current fiscal year and $-8 EPS for the next fiscal year.

American Well Stock Performance

Shares of AMWL opened at $9.41 on Monday. American Well has a 52-week low of $5.00 and a 52-week high of $31.60. The business’s 50 day moving average price is $9.27 and its two-hundred day moving average price is $8.99. The firm has a market cap of $139.48 million, a PE ratio of -0.38 and a beta of 1.05.

Insider Activity

In other news, CFO Robert Shepardson sold 5,177 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $40,742.99. Following the completion of the transaction, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at $889,247.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Robert Shepardson sold 5,177 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total transaction of $40,742.99. Following the completion of the sale, the chief financial officer now owns 112,992 shares of the company’s stock, valued at $889,247.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kathy Johnson Weiler sold 7,266 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total transaction of $57,183.42. Following the completion of the sale, the insider now directly owns 188,027 shares of the company’s stock, valued at approximately $1,479,772.49. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,141 shares of company stock worth $178,729. Company insiders own 12.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMWL. Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research note on Tuesday, September 24th. Wells Fargo & Company cut their price target on American Well from $40.00 to $15.00 and set an “equal weight” rating for the company in a report on Tuesday, August 6th.

About American Well

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.