American Well (NYSE:AMWL) Posts Earnings Results, Beats Estimates By $0.01 EPS

American Well (NYSE:AMWLGet Rating) posted its quarterly earnings results on Thursday. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.01, Briefing.com reports. American Well had a negative return on equity of 16.72% and a negative net margin of 79.91%. The business had revenue of $64.52 million for the quarter, compared to the consensus estimate of $64.13 million. During the same quarter in the prior year, the company earned ($0.15) EPS. The business’s revenue was up 7.1% compared to the same quarter last year. American Well updated its FY 2022 guidance to EPS.

American Well Price Performance

American Well stock traded up $0.35 during mid-day trading on Friday, reaching $4.99. 3,187,541 shares of the company traded hands, compared to its average volume of 2,750,404. American Well has a fifty-two week low of $2.52 and a fifty-two week high of $11.68. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of -6.32 and a beta of 0.15. The firm’s fifty day moving average is $4.38 and its two-hundred day moving average is $3.99.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Guggenheim assumed coverage on American Well in a research report on Wednesday, April 13th. They set a “buy” rating and a $6.00 price objective on the stock. Piper Sandler raised their price objective on American Well from $5.00 to $6.00 and gave the company an “overweight” rating in a research report on Thursday, June 23rd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, American Well presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Insider Buying and Selling at American Well

In other American Well news, CFO Robert Shepardson sold 24,986 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $3.57, for a total transaction of $89,200.02. Following the transaction, the chief financial officer now owns 963,289 shares in the company, valued at approximately $3,438,941.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Ido Schoenberg sold 10,295 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $4.03, for a total value of $41,488.85. Following the sale, the chief executive officer now directly owns 2,062,813 shares of the company’s stock, valued at approximately $8,313,136.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Shepardson sold 24,986 shares of the company’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $3.57, for a total transaction of $89,200.02. Following the completion of the sale, the chief financial officer now directly owns 963,289 shares in the company, valued at $3,438,941.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 595,885 shares of company stock worth $2,576,154. 14.68% of the stock is owned by corporate insiders.

Institutional Trading of American Well

Several large investors have recently made changes to their positions in the business. Swiss National Bank boosted its holdings in American Well by 16.7% during the first quarter. Swiss National Bank now owns 134,500 shares of the company’s stock worth $566,000 after buying an additional 19,200 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in American Well by 272.5% during the first quarter. JPMorgan Chase & Co. now owns 483,351 shares of the company’s stock worth $2,036,000 after buying an additional 353,598 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in American Well by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 679,534 shares of the company’s stock worth $2,861,000 after buying an additional 10,013 shares in the last quarter. Bank of Montreal Can boosted its holdings in American Well by 19.6% during the first quarter. Bank of Montreal Can now owns 106,670 shares of the company’s stock worth $454,000 after buying an additional 17,477 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in American Well by 41.5% during the first quarter. MetLife Investment Management LLC now owns 90,861 shares of the company’s stock worth $383,000 after buying an additional 26,662 shares in the last quarter. 43.75% of the stock is owned by hedge funds and other institutional investors.

American Well Company Profile

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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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Earnings History for American Well (NYSE:AMWL)

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