American Well (NYSE:AMWL) Cut to “Sell” at Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of American Well (NYSE:AMWL – Free Report) from a hold rating to a sell rating in a report published on Saturday.

A number of other equities analysts also recently issued reports on the company. Stifel Nicolaus lowered their price objective on American Well from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Friday, February 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of American Well in a report on Wednesday, January 21st. Finally, Morgan Stanley decreased their target price on shares of American Well from $10.50 to $6.00 and set an “equal weight” rating for the company in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, American Well currently has a consensus rating of “Hold” and a consensus target price of $7.42.

Get Our Latest Research Report on AMWL

American Well Stock Down 0.5%

NYSE AMWL opened at $5.59 on Friday. The company has a market capitalization of $92.51 million, a price-to-earnings ratio of -0.94 and a beta of 1.34. American Well has a twelve month low of $3.71 and a twelve month high of $9.15. The stock has a fifty day simple moving average of $5.06 and a 200 day simple moving average of $5.19.

American Well (NYSE:AMWL – Get Free Report) last announced its earnings results on Thursday, February 12th. The company reported ($1.52) EPS for the quarter, topping the consensus estimate of ($1.59) by $0.07. American Well had a negative return on equity of 35.33% and a negative net margin of 38.38%.The firm had revenue of $55.31 million for the quarter, compared to the consensus estimate of $52.71 million. Research analysts expect that American Well will post -9.34 earnings per share for the current fiscal year.

Insider Activity at American Well

In related news, insider Dmitry Zamansky sold 6,243 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $4.85, for a total transaction of $30,278.55. Following the completion of the sale, the insider owned 191,468 shares of the company’s stock, valued at $928,619.80. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 10,946 shares of company stock worth $53,002. 12.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Well

Several institutional investors have recently added to or reduced their stakes in AMWL. Rock Point Advisors LLC grew its position in shares of American Well by 49.3% during the 3rd quarter. Rock Point Advisors LLC now owns 259,171 shares of the company’s stock worth $1,594,000 after buying an additional 85,581 shares during the period. Monaco Asset Management SAM bought a new stake in shares of American Well in the 4th quarter valued at $338,000. Squarepoint Ops LLC lifted its position in shares of American Well by 74.5% during the 4th quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock valued at $565,000 after acquiring an additional 49,135 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of American Well by 280.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock valued at $510,000 after acquiring an additional 47,745 shares during the period. Finally, Jane Street Group LLC boosted its stake in American Well by 232.9% during the first quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock worth $505,000 after acquiring an additional 44,852 shares in the last quarter. 56.05% of the stock is owned by institutional investors and hedge funds.

About American Well

(Get Free Report)

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.

Further Reading