American Well (NYSE:AMWL – Get Rating) posted its quarterly earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.01, Briefing.com reports. The firm 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 19.00%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.15) earnings per share. American Well updated its FY 2022 guidance to EPS.
American Well Price Performance
American Well stock opened at $4.99 on Friday. American Well has a fifty-two week low of $2.52 and a fifty-two week high of $11.68. The firm has a fifty day moving average price of $4.38 and a two-hundred day moving average price of $3.99.
Insiders Place Their Bets
In other news, VP Bradford Gay sold 19,450 shares of the business’s 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 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 accessible through the SEC website. In other news, VP Bradford Gay sold 19,450 shares of the business’s 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 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 accessible through the SEC website. Also, insider Phyllis Gotlib sold 13,750 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 transaction of $49,087.50. Following the transaction, the insider now owns 509,285 shares in the company, valued at approximately $1,818,147.45. The disclosure for this sale can be found here. Insiders sold a total of 595,885 shares of company stock valued at $2,576,154 in the last quarter. Insiders own 14.68% of the company’s stock.
Institutional Trading of American Well
Wall Street Analysts Forecast Growth
AMWL has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of American Well from $5.00 to $6.00 and gave the stock an “overweight” rating in a research report on Thursday, June 23rd. Guggenheim began coverage on shares of American Well in a research report on Wednesday, April 13th. They set a “buy” rating and a $6.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, American Well presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.
About American Well
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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