American Well’s (AMWL) Hold Rating Reiterated at Needham & Company LLC

American Well (NYSE:AMWL)‘s stock had its “hold” rating restated by equities research analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports.

Separately, Wells Fargo & Company decreased their price target on American Well from $40.00 to $15.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 6th.

American Well Stock Up 0.4 %

NYSE:AMWL opened at $9.68 on Thursday. The business’s 50-day simple moving average is $9.33 and its two-hundred day simple moving average is $8.97. The stock has a market cap of $145.11 million, a PE ratio of -0.45 and a beta of 1.05. American Well has a 52 week low of $5.00 and a 52 week high of $31.60.

American Well (NYSE:AMWL) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($2.87) EPS for the quarter, beating analysts’ consensus estimates of ($3.32) by $0.45. The business had revenue of $61.05 million for the quarter, compared to analysts’ expectations of $62.06 million. American Well had a negative return on equity of 50.36% and a negative net margin of 120.44%. Sell-side analysts anticipate that American Well will post -13.46 earnings per share for the current fiscal year.

Insider Transactions at American Well

In other news, CFO Robert Shepardson sold 5,177 shares of American Well stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total value of $40,742.99. Following the sale, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at approximately $889,247.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other American Well news, insider Kathy Johnson Weiler sold 7,266 shares of the business’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 sale, the insider now directly owns 188,027 shares of the company’s stock, valued at $1,479,772.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert Shepardson sold 5,177 shares of the business’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 value of $40,742.99. Following the sale, the chief financial officer now directly owns 112,992 shares in the company, valued at $889,247.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,640 shares of company stock valued at $173,939. 12.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On American Well

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of American Well by 1.4% during the first quarter. Vanguard Group Inc. now owns 13,398,096 shares of the company’s stock valued at $10,862,000 after buying an additional 190,922 shares during the period. Acadian Asset Management LLC boosted its position in shares of American Well by 193.0% during the first quarter. Acadian Asset Management LLC now owns 2,083,805 shares of the company’s stock valued at $1,687,000 after buying an additional 1,372,582 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of American Well during the first quarter valued at approximately $1,284,000. Price T Rowe Associates Inc. MD boosted its position in shares of American Well by 75.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 289,318 shares of the company’s stock valued at $235,000 after buying an additional 124,441 shares during the period. Finally, Cowen AND Company LLC purchased a new position in shares of American Well during the second quarter valued at approximately $81,000. 56.05% of the stock is owned by institutional investors.

American Well Company Profile

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.