Morgan Stanley Cuts American Well (NYSE:AMWL) Price Target to $1.00

American Well (NYSE:AMWL) had its target price reduced by Morgan Stanley from $1.75 to $1.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an equal weight rating on the stock.

American Well Stock Up 1.0 %

NYSE AMWL opened at $0.52 on Monday. The company has a 50 day moving average price of $0.92 and a two-hundred day moving average price of $1.11. American Well has a 12-month low of $0.50 and a 12-month high of $2.74. The stock has a market capitalization of $150.15 million, a PE ratio of -0.22 and a beta of 0.99.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Wednesday, February 14th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. American Well had a negative net margin of 260.63% and a negative return on equity of 40.19%. The business had revenue of $70.68 million during the quarter, compared to analysts’ expectations of $70.16 million. During the same period in the previous year, the company earned ($0.22) earnings per share. American Well’s revenue for the quarter was down 10.8% on a year-over-year basis. As a group, equities analysts anticipate that American Well will post -0.7 EPS for the current year.

Insider Transactions at American Well

In other news, EVP Vukasin Paunovich sold 251,323 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $273,942.07. Following the completion of the sale, the executive vice president now directly owns 2,535,635 shares in the company, valued at $2,763,842.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Vukasin Paunovich sold 251,323 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total transaction of $273,942.07. Following the transaction, the executive vice president now owns 2,535,635 shares of the company’s stock, valued at $2,763,842.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Shepardson sold 319,214 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $347,943.26. Following the transaction, the chief financial officer now directly owns 2,845,148 shares in the company, valued at approximately $3,101,211.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,169,038 shares of company stock worth $1,267,410. 12.94% of the stock is owned by insiders.

Hedge Funds Weigh In On American Well

A number of institutional investors and hedge funds have recently bought and sold shares of AMWL. Oak Thistle LLC bought a new stake in American Well in the 1st quarter valued at $46,000. Price T Rowe Associates Inc. MD increased its holdings in American Well by 33.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 164,877 shares of the company’s stock valued at $246,000 after buying an additional 40,936 shares during the period. Public Employees Retirement System of Ohio increased its holdings in American Well by 68.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 177,109 shares of the company’s stock valued at $264,000 after buying an additional 71,660 shares during the period. Wexford Capital LP bought a new stake in American Well in the 4th quarter valued at $26,000. Finally, Barclays PLC increased its holdings in American Well by 136.7% in the 4th quarter. Barclays PLC now owns 410,425 shares of the company’s stock valued at $611,000 after buying an additional 237,066 shares during the period. Institutional investors own 56.05% of the company’s stock.

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.