Needham & Company LLC Reiterates Hold Rating for American Well (NYSE:AMWL)

Needham & Company LLC reissued their hold rating on shares of American Well (NYSE:AMWL) in a report issued on Tuesday, Benzinga reports.

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

American Well Stock Up 0.4 %

American Well stock opened at $9.50 on Tuesday. The stock has a 50-day simple moving average of $8.83 and a 200 day simple moving average of $10.02. American Well has a 12-month low of $5.00 and a 12-month high of $31.60. The stock has a market capitalization of $140.82 million, a price-to-earnings ratio of -0.39 and a beta of 1.04.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($3.36) EPS for the quarter, topping analysts’ consensus estimates of ($3.94) by $0.58. The firm had revenue of $62.79 million during the quarter, compared to analyst estimates of $60.78 million. American Well had a negative return on equity of 50.36% and a negative net margin of 120.44%. During the same period last year, the company earned ($4.60) earnings per share. As a group, sell-side analysts anticipate that American Well will post -13.91 EPS for the current year.

Insider Transactions at American Well

In related 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 value of $57,183.42. Following the completion of the transaction, the insider now directly owns 188,027 shares in the company, valued at approximately $1,479,772.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 value of $57,183.42. Following the completion of the transaction, the insider now directly owns 188,027 shares in the company, valued at approximately $1,479,772.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Shepardson sold 5,177 shares of the business’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 value of $40,742.99. Following the completion of the transaction, the chief financial officer now owns 112,992 shares of the company’s stock, valued at $889,247.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,137 shares of company stock worth $169,765. 12.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Well

Institutional investors have recently bought and sold shares of the company. Aristides Capital LLC bought a new stake in American Well in the 4th quarter valued at approximately $224,000. Point72 DIFC Ltd raised its stake in shares of American Well by 1,418.5% during the 2nd quarter. Point72 DIFC Ltd now owns 103,457 shares of the company’s stock worth $34,000 after purchasing an additional 96,644 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of American Well by 63.9% during the 2nd quarter. Renaissance Technologies LLC now owns 6,833,500 shares of the company’s stock worth $2,220,000 after purchasing an additional 2,665,300 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. raised its stake in shares of American Well by 2,690.2% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 419,841 shares of the company’s stock worth $136,000 after purchasing an additional 404,794 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of American Well by 80.5% during the 2nd quarter. Acadian Asset Management LLC now owns 3,761,310 shares of the company’s stock worth $1,220,000 after purchasing an additional 1,677,505 shares in the last quarter. Institutional investors own 56.05% of the company’s stock.

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.