Robert Shepardson Sells 24,986 Shares of American Well Co. (NYSE:AMWL) Stock

American Well Co. (NYSE:AMWLGet Rating) CFO Robert Shepardson sold 24,986 shares of the business’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $3.57, for a total value of $89,200.02. Following the completion of the sale, the chief financial officer now owns 963,289 shares in the company, valued at $3,438,941.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

NYSE:AMWL opened at $3.86 on Friday. American Well Co. has a fifty-two week low of $2.52 and a fifty-two week high of $14.76. The firm’s 50 day moving average is $3.52 and its two-hundred day moving average is $4.53.

American Well (NYSE:AMWLGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The firm had revenue of $64.20 million for the quarter, compared to analyst estimates of $64.94 million. American Well had a negative net margin of 79.91% and a negative return on equity of 16.72%. American Well’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) earnings per share. On average, equities analysts predict that American Well Co. will post -0.98 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in AMWL. Vanguard Group Inc. lifted its position in American Well by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 17,000,809 shares of the company’s stock valued at $71,574,000 after purchasing an additional 148,001 shares during the last quarter. Caledonia Private Investments Pty Ltd raised its position in shares of American Well by 29.5% during the 4th quarter. Caledonia Private Investments Pty Ltd now owns 16,384,786 shares of the company’s stock worth $98,964,000 after buying an additional 3,736,240 shares in the last quarter. BlackRock Inc. raised its position in shares of American Well by 8.7% during the 1st quarter. BlackRock Inc. now owns 14,394,991 shares of the company’s stock worth $60,602,000 after buying an additional 1,153,940 shares in the last quarter. State Street Corp raised its position in shares of American Well by 18.5% during the 1st quarter. State Street Corp now owns 4,582,797 shares of the company’s stock worth $19,294,000 after buying an additional 715,750 shares in the last quarter. Finally, Eagle Health Investments LP raised its position in shares of American Well by 69.5% during the 1st quarter. Eagle Health Investments LP now owns 3,811,008 shares of the company’s stock worth $16,044,000 after buying an additional 1,563,100 shares in the last quarter. 43.75% of the stock is owned by institutional investors.

AMWL has been the topic of several research analyst reports. Guggenheim started coverage on American Well in a research note on Wednesday, April 13th. They issued a “buy” rating and a $6.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and issued a $5.00 target price (down from $7.00) on shares of American Well in a research report on Monday, May 16th. Zacks Investment Research downgraded American Well from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. The Goldman Sachs Group initiated coverage on American Well in a research report on Friday, February 11th. They set a “neutral” rating and a $6.00 price target on the stock. Finally, Wells Fargo & Company dropped their target price on American Well from $6.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Monday, February 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.93.

About American Well (Get Rating)

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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