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American Well Corp (NYSE:AMWL) recently reported a stock transaction involving its Chief Accounting Officer, Paul Francis McNeice. According to a filing with the Securities and Exchange Commission, McNeice sold 130 shares of Class A Common Stock at an average price of $8.7975 per share, totaling approximately $1,143. The transaction comes as AMWL’s stock has declined 14% over the past week, according to InvestingPro data.
The transaction took place on March 3, 2025, as part of an automatic "sell to cover" process to address tax liabilities associated with the vesting of restricted stock units. Following the sale, McNeice holds 14,583 shares directly. The company maintains a strong balance sheet with more cash than debt and a healthy current ratio of 2.85x.
Additionally, McNeice acquired 5,521 restricted stock units on the same day, which will vest quarterly over a two-year period. These acquisitions were made without any cash exchange, as indicated by a transaction price of $0 per share. For deeper insights into AMWL’s financial health and additional ProTips, visit InvestingPro, where you’ll find comprehensive analysis and expert research reports.
In other recent news, American Well Corp has reported its fourth-quarter 2024 earnings, showing a steady revenue of $71 million, unchanged from the previous year. Despite a 36% increase in subscription revenue to $37 million, the company experienced an 18% decline in completed visits. American Well’s gross profit margin improved to 48%, up 11 points from the previous quarter. The company has set its 2025 revenue guidance between $250 million and $260 million, with subscription revenue expected to account for nearly 60% of the total. This adjustment follows the sale of its virtual psychiatric care division, which impacted the forecast. The company’s focus on more profitable government contracts, including plans with the Defense Health Agency, remains on track. Needham has maintained a Hold rating on American Well, advising caution due to uncertainties surrounding the renewal of the DHA contract. Management remains committed to achieving positive free cash flow by 2026, despite moderated growth expectations for 2025.
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