AMN Healthcare Services (NYSE:AMN) Issues Earnings Results

AMN Healthcare Services (NYSE:AMNGet Rating) released its earnings results on Thursday. The company reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.00 by $0.31, Briefing.com reports. The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.37 billion. AMN Healthcare Services had a return on equity of 44.09% and a net margin of 8.67%. The company’s revenue was up 66.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 EPS. AMN Healthcare Services updated its Q3 2022 guidance to EPS.

AMN Healthcare Services Stock Performance

NYSE:AMN traded up $9.59 during mid-day trading on Friday, hitting $117.83. The stock had a trading volume of 1,281,374 shares, compared to its average volume of 691,777. AMN Healthcare Services has a twelve month low of $82.75 and a twelve month high of $129.12. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 10.02 and a beta of 0.26. The company’s 50 day simple moving average is $108.35 and its 200 day simple moving average is $102.96. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.29 and a current ratio of 1.29.

Analysts Set New Price Targets

AMN has been the subject of a number of recent research reports. StockNews.com downgraded shares of AMN Healthcare Services from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Credit Suisse Group increased their price objective on shares of AMN Healthcare Services from $120.00 to $121.00 and gave the stock an “outperform” rating in a research note on Thursday, June 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $137.60.

AMN Healthcare Services announced that its Board of Directors has initiated a stock buyback plan on Wednesday, June 15th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the company to purchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Insider Activity at AMN Healthcare Services

In related news, insider Mark Christopher Hagan sold 1,400 shares of the firm’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $97.53, for a total value of $136,542.00. Following the completion of the sale, the insider now directly owns 13,345 shares in the company, valued at approximately $1,301,537.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AMN Healthcare Services

Several hedge funds have recently bought and sold shares of AMN. Vanguard Group Inc. lifted its position in AMN Healthcare Services by 1.1% during the first quarter. Vanguard Group Inc. now owns 5,662,414 shares of the company’s stock worth $590,760,000 after acquiring an additional 59,967 shares during the last quarter. State Street Corp lifted its position in AMN Healthcare Services by 3.7% during the first quarter. State Street Corp now owns 1,555,978 shares of the company’s stock worth $162,335,000 after acquiring an additional 56,075 shares during the last quarter. Federated Hermes Inc. lifted its position in AMN Healthcare Services by 12.9% during the first quarter. Federated Hermes Inc. now owns 1,160,843 shares of the company’s stock worth $121,110,000 after acquiring an additional 132,587 shares during the last quarter. Invesco Ltd. lifted its position in AMN Healthcare Services by 9.5% during the first quarter. Invesco Ltd. now owns 654,516 shares of the company’s stock worth $68,286,000 after acquiring an additional 57,028 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in AMN Healthcare Services by 1,181.5% during the first quarter. Renaissance Technologies LLC now owns 540,800 shares of the company’s stock worth $56,422,000 after acquiring an additional 498,600 shares during the last quarter. 94.70% of the stock is currently owned by institutional investors and hedge funds.

AMN Healthcare Services Company Profile

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AMN Healthcare Services, Inc provides healthcare workforce solutions and staffing services to hospitals and healthcare facilities in the United States. It operates through three segments: Nurse and Allied Solutions, Physician and Leadership Solutions, and Technology and Workforce Solutions. The Nurse and Allied Solutions segment offers travel nurse staffing, rapid response nurse staffing and labor disruption, allied staffing, local staffing, and revenue cycle solutions.

See Also

Earnings History for AMN Healthcare Services (NYSE:AMN)

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