Amundi Pioneer Asset Management Inc. Invests $38.33 Million in American Well Co. (NYSE:AMWL)


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Amundi Pioneer Asset Management Inc. bought a new position in American Well Co. (NYSE:AMWL) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,513,125 shares of the company’s stock, valued at approximately $38,327,000.

Several other hedge funds also recently bought and sold shares of AMWL. Wells Fargo & Company MN bought a new position in shares of American Well in the third quarter worth about $572,000. Morgan Stanley bought a new position in shares of American Well in the third quarter worth about $8,715,000. Squarepoint Ops LLC bought a new position in shares of American Well in the third quarter worth about $2,075,000. Schonfeld Strategic Advisors LLC bought a new position in shares of American Well in the third quarter worth about $949,000. Finally, Jane Street Group LLC bought a new position in shares of American Well in the third quarter worth about $776,000. 18.97% of the stock is owned by hedge funds and other institutional investors.

In other news, COO Kurt Knight sold 16,233 shares of American Well stock in a transaction on Monday, April 5th. The stock was sold at an average price of $18.02, for a total transaction of $292,518.66. Following the sale, the chief operating officer now directly owns 1,185,093 shares in the company, valued at approximately $21,355,375.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Roy Schoenberg sold 107,000 shares of American Well stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $17.99, for a total value of $1,924,930.00. Following the sale, the chief executive officer now owns 1,722,375 shares in the company, valued at $30,985,526.25. The disclosure for this sale can be found here. Insiders have sold a total of 2,292,579 shares of company stock worth $59,291,818 over the last quarter.

A number of research analysts have recently commented on AMWL shares. Credit Suisse Group cut shares of American Well from an “outperform” rating to a “neutral” rating and set a $41.00 target price for the company. in a report on Wednesday, January 27th. Stifel Nicolaus started coverage on American Well in a research note on Friday, December 18th. They issued a “hold” rating and a $29.00 price objective for the company. Zacks Investment Research raised American Well from a “sell” rating to a “hold” rating in a research note on Monday, March 29th. BTIG Research started coverage on American Well in a research note on Wednesday, January 6th. They issued a “neutral” rating for the company. Finally, Cowen lowered their price objective on American Well from $41.00 to $35.00 and set an “outperform” rating for the company in a research note on Thursday, March 25th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. American Well currently has a consensus rating of “Hold” and a consensus target price of $33.25.

Shares of AMWL opened at $17.31 on Tuesday. The business’s fifty day moving average is $20.99 and its 200 day moving average is $26.54. American Well Co. has a 12-month low of $15.53 and a 12-month high of $43.75.

American Well (NYSE:AMWL) last issued its quarterly earnings data on Tuesday, March 23rd. The company reported ($0.51) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.25). The business had revenue of $60.40 million during the quarter, compared to analyst estimates of $54.60 million. The company’s revenue was up 34.2% compared to the same quarter last year. As a group, sell-side analysts forecast that American Well Co. will post -3.38 earnings per share for the current fiscal year.

American Well Profile

American Well Corporation provides a telehealth application that connects and enables providers, insurers, patients, and innovators to deliver access to healthcare. Its application offers urgent care; pediatrics; therapy; menopause nutrition; menopause counseling; telestroke; population health management; telepsychiatry; pregnancy and postpartum nutrition; pregnancy and postpartum therapy; breastfeed support; menopause care; pregnancy and postpartum care; and chromic disease management services.

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Institutional Ownership by Quarter for American Well (NYSE:AMWL)

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