$62.30 Million in Sales Expected for American Well Co. (NYSE:AMWL) This Quarter

Wall Street analysts expect American Well Co. (NYSE:AMWL – Get Rating) to report sales of $62.30 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for American Well’s earnings. The highest sales estimate is $65.30 million and the lowest is $60.51 million. American Well reported sales of $60.22 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.5%. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that American Well will report full year sales of $273.83 million for the current fiscal year, with estimates ranging from $266.55 million to $278.90 million. For the next year, analysts anticipate that the firm will report sales of $308.49 million, with estimates ranging from $296.78 million to $322.26 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover American Well.

American Well (NYSE:AMWL – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). The business had revenue of $64.20 million during the quarter, compared to analyst estimates of $64.94 million. American Well had a negative return on equity of 16.72% and a negative net margin of 79.91%. American Well’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) EPS.

Several equities research analysts have issued reports on the company. Guggenheim assumed coverage on American Well in a report on Wednesday, April 13th. They issued a “buy” rating and a $6.00 price target for the company. The Goldman Sachs Group started coverage on American Well in a report on Friday, February 11th. They issued a “neutral” rating and a $6.00 price target for the company. Piper Sandler reaffirmed an “overweight” rating and set a $5.00 price objective (down from $7.00) on shares of American Well in a research report on Monday, May 16th. Zacks Investment Research cut American Well from a “hold” rating to a “sell” rating in a research report on Tuesday, May 10th. Finally, Wells Fargo & Company reduced their price objective on American Well from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Monday, February 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, American Well currently has an average rating of “Hold” and an average target price of $8.93.

NYSE AMWL traded up $0.08 on Friday, reaching $3.18. The company had a trading volume of 41,505 shares, compared to its average volume of 2,995,806. The stock’s 50 day moving average is $3.55 and its 200-day moving average is $4.74. The stock has a market cap of $837.34 million, a price-to-earnings ratio of -3.92 and a beta of 0.86. American Well has a 52 week low of $2.52 and a 52 week high of $14.76.

In other American Well news, CEO Ido Schoenberg sold 40,720 shares of the firm’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $3.58, for a total value of $145,777.60. Following the completion of the sale, the chief executive officer now directly owns 2,509,580 shares in the company, valued at $8,984,296.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Mary Modahl sold 6,826 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $3.94, for a total transaction of $26,894.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 321,047 shares of company stock worth $1,197,231. Insiders own 14.68% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Morgan Stanley grew its holdings in American Well by 198.1% during the 2nd quarter. Morgan Stanley now owns 2,318,691 shares of the company’s stock valued at $29,169,000 after purchasing an additional 1,540,792 shares during the last quarter. SG Americas Securities LLC purchased a new stake in American Well in the 3rd quarter valued at about $260,000. Raymond James Financial Services Advisors Inc. boosted its position in American Well by 31.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 16,052 shares of the company’s stock valued at $146,000 after buying an additional 3,805 shares during the period. Truist Financial Corp boosted its position in American Well by 36.5% in the 3rd quarter. Truist Financial Corp now owns 72,087 shares of the company’s stock valued at $657,000 after buying an additional 19,263 shares during the period. Finally, Swiss National Bank boosted its position in American Well by 1.5% in the 3rd quarter. Swiss National Bank now owns 115,300 shares of the company’s stock valued at $1,050,000 after buying an additional 1,700 shares during the period. Hedge funds and other institutional investors own 43.75% of the company’s stock.

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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