American Well (NYSE:AMWL – Get Rating) had its target price reduced by Piper Sandler from $6.00 to $5.00 in a research note published on Wednesday, The Fly reports.
American Well Trading Down 0.9 %
NYSE:AMWL opened at $4.33 on Wednesday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -4.85 and a beta of -0.06. The company's 50-day moving average is $4.55 and its two-hundred day moving average is $4.04. American Well has a 12-month low of $2.52 and a 12-month high of $11.40.
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American Well (NYSE:AMWL – Get Rating) last released its earnings results on Thursday, August 4th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.01. The company had revenue of $64.52 million for the quarter, compared to analyst estimates of $64.13 million. American Well had a negative net margin of 90.47% and a negative return on equity of 19.36%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) EPS. On average, equities research analysts forecast that American Well will post -0.97 earnings per share for the current fiscal year.
Insider Buying and Selling at American Well
In other American Well news, VP Bradford Gay sold 19,450 shares of the company's stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $4.96, for a total value of $96,472.00. Following the transaction, the vice president now directly owns 839,737 shares in the company, valued at approximately $4,165,095.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Bradford Gay sold 19,450 shares of the stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $4.96, for a total transaction of $96,472.00. Following the transaction, the vice president now directly owns 839,737 shares in the company, valued at approximately $4,165,095.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Kurt Knight sold 25,151 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $4.37, for a total transaction of $109,909.87. Following the transaction, the chief operating officer now owns 1,454,773 shares in the company, valued at $6,357,358.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 522,904 shares of company stock worth $2,324,802. Corporate insiders own 13.91% of the company's stock.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Captrust Financial Advisors increased its position in American Well by 1.6% during the 2nd quarter. Captrust Financial Advisors now owns 150,442 shares of the company's stock worth $650,000 after purchasing an additional 2,353 shares in the last quarter. Point72 Hong Kong Ltd increased its position in American Well by 175.1% during the 1st quarter. Point72 Hong Kong Ltd now owns 8,087 shares of the company's stock worth $34,000 after purchasing an additional 5,147 shares in the last quarter. Verition Fund Management LLC increased its position in American Well by 27.6% during the 1st quarter. Verition Fund Management LLC now owns 24,522 shares of the company's stock worth $103,000 after purchasing an additional 5,300 shares in the last quarter. Mackenzie Financial Corp increased its position in American Well by 53.6% during the 2nd quarter. Mackenzie Financial Corp now owns 15,713 shares of the company's stock worth $68,000 after purchasing an additional 5,480 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in American Well by 10.7% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 58,394 shares of the company's stock worth $353,000 after purchasing an additional 5,656 shares in the last quarter. 46.62% of the stock is currently owned by hedge funds and other institutional investors.
About American Well
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American Well Corporation operates as a telehealth software company that enables digital delivery of care for healthcare. The company products offer urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, and home settings. Its application offers urgent care; pediatrics; therapy; menopause nutrition; end-stage renal disease and dialysis; dermatology care; behavioral health therapy; and musculoskeletal care.
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