Brokerages Set American Well Co. (NYSE:AMWL) PT at $11.90

Shares of American Well Co. (NYSE:AMWL) have earned a consensus rating of “Hold” from the six brokerages that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $11.90.

AMWL has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of American Well from $9.00 to $10.00 and gave the stock a “hold” rating in a research report on Thursday, February 13th. Truist Financial lifted their price target on shares of American Well from $10.00 to $12.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Wells Fargo & Company raised shares of American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price target for the company in a research report on Monday, January 13th. Morgan Stanley reduced their price target on shares of American Well from $20.00 to $10.50 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Thursday, February 13th.

American Well Stock Performance

American Well stock opened at $8.20 on Tuesday. The firm has a market cap of $128.03 million, a price-to-earnings ratio of -0.59 and a beta of 1.18. American Well has a 52-week low of $5.00 and a 52-week high of $18.80. The firm has a 50 day moving average price of $9.97 and a two-hundred day moving average price of $9.32.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($2.77) EPS for the quarter, topping the consensus estimate of ($3.04) by $0.27. American Well had a negative net margin of 81.83% and a negative return on equity of 56.73%. As a group, equities research analysts predict that American Well will post -9.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other American Well news, insider Phyllis Gotlib sold 4,781 shares of American Well stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.80, for a total transaction of $42,072.80. Following the transaction, the insider now directly owns 147,998 shares of the company’s stock, valued at $1,302,382.40. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 5,219 shares of company stock valued at $46,454 in the last three months. 12.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On American Well

Hedge funds have recently bought and sold shares of the company. Compagnie Lombard Odier SCmA bought a new stake in shares of American Well during the 4th quarter worth $45,000. BNP Paribas Financial Markets bought a new stake in shares of American Well during the 3rd quarter worth $95,000. OMERS ADMINISTRATION Corp bought a new stake in shares of American Well during the 4th quarter worth $76,000. PDT Partners LLC bought a new stake in shares of American Well during the 3rd quarter worth $107,000. Finally, Walleye Capital LLC bought a new stake in shares of American Well during the 3rd quarter worth $167,000. 56.05% of the stock is owned by hedge funds and other institutional investors.

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.