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

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

American Well Stock Up 1.0 %

NYSE AMWL opened at $0.52 on Monday. American Well has a 12-month low of $0.50 and a 12-month high of $2.74. The firm’s 50 day moving average is $0.92 and its 200-day moving average is $1.11. The company 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 released its earnings results on Wednesday, February 14th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate 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 last year, the business earned ($0.22) earnings per share. The firm’s revenue was down 10.8% on a year-over-year basis. As a group, sell-side analysts expect that American Well will post -0.7 EPS for the current year.

Insider Activity at American Well

In other American Well news, CFO Robert Shepardson sold 319,214 shares of American Well stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total transaction of $347,943.26. Following the completion of the transaction, the chief financial officer now directly owns 2,845,148 shares of the company’s stock, valued at $3,101,211.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other American Well news, EVP Vukasin Paunovich sold 251,323 shares of American Well 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 completion of the transaction, the executive vice president now directly owns 2,535,635 shares of the company’s stock, valued at $2,763,842.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert Shepardson sold 319,214 shares of American Well 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 of the company’s stock, valued at $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 valued at $1,267,410. 12.94% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Well

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMWL. Oak Thistle LLC bought a new stake in shares of American Well in the first quarter valued at about $46,000. Price T Rowe Associates Inc. MD boosted its position in shares of American Well by 33.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 164,877 shares of the company’s stock valued at $246,000 after acquiring an additional 40,936 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of American Well by 68.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 177,109 shares of the company’s stock valued at $264,000 after acquiring an additional 71,660 shares during the period. Wexford Capital LP bought a new stake in shares of American Well in the fourth quarter valued at about $26,000. Finally, Barclays PLC boosted its position in shares of American Well by 136.7% in the fourth quarter. Barclays PLC now owns 410,425 shares of the company’s stock valued at $611,000 after acquiring an additional 237,066 shares during the period. 56.05% of the stock is owned by institutional investors.

About American Well

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.