AMN Healthcare Services (NYSE:AMN) Sees Unusually-High Trading Volume on Analyst Upgrade

AMN Healthcare Services Inc (NYSE:AMN) saw strong trading volume on Thursday after BMO Capital Markets raised their price target on the stock from $22.00 to $25.00. BMO Capital Markets currently has an outperform rating on the stock. 1,559,756 shares changed hands during trading, an increase of 17% from the previous session’s volume of 1,331,662 shares.The stock last traded at $19.87 and had previously closed at $19.55.

Other analysts have also recently issued research reports about the stock. Zacks Research raised shares of AMN Healthcare Services from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 25th. Truist Financial boosted their target price on AMN Healthcare Services from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AMN Healthcare Services in a report on Wednesday, October 8th. Citigroup reiterated a “market outperform” rating on shares of AMN Healthcare Services in a research report on Friday, December 19th. Finally, Citizens Jmp dropped their target price on AMN Healthcare Services from $24.00 to $22.00 and set a “market outperform” rating for the company in a report on Friday, December 19th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.36.

Institutional Investors Weigh In On AMN Healthcare Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Strengthening Families & Communities LLC lifted its stake in shares of AMN Healthcare Services by 238.5% in the 3rd quarter. Strengthening Families & Communities LLC now owns 1,713 shares of the company’s stock valued at $33,000 after purchasing an additional 1,207 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in AMN Healthcare Services in the 3rd quarter valued at about $63,000. Tower Research Capital LLC TRC lifted its position in AMN Healthcare Services by 49.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company’s stock valued at $64,000 after buying an additional 1,020 shares during the last quarter. Covestor Ltd boosted its stake in AMN Healthcare Services by 13.9% during the third quarter. Covestor Ltd now owns 4,747 shares of the company’s stock worth $92,000 after buying an additional 579 shares during the period. Finally, Strs Ohio acquired a new stake in shares of AMN Healthcare Services during the first quarter valued at about $95,000. Hedge funds and other institutional investors own 99.23% of the company’s stock.

AMN Healthcare Services Stock Up 1.9%

The business’s 50 day moving average price is $16.32 and its 200-day moving average price is $18.51. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market capitalization of $765.32 million, a PE ratio of -2.77 and a beta of 0.20.

AMN Healthcare Services (NYSE:AMN) last posted its earnings results on Thursday, November 6th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.20. AMN Healthcare Services had a negative net margin of 10.14% and a positive return on equity of 10.89%. The firm had revenue of $634.50 million during the quarter, compared to the consensus estimate of $618.08 million. During the same quarter last year, the firm earned $0.61 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. As a group, equities research analysts forecast that AMN Healthcare Services Inc will post 1.33 earnings per share for the current year.

About AMN Healthcare Services

AMN Healthcare Services, Inc (NYSE: AMN) is a leading provider of healthcare workforce solutions in the United States. The company specializes in staffing and recruitment services for a broad range of clinical and allied health professionals, including travel nurses, permanent placement of nursing staff, locum tenens physicians, and allied health personnel. In addition to direct staffing, AMN Healthcare offers comprehensive workforce management solutions such as vendor management systems (VMS), recruitment process outsourcing (RPO), and compliance and credentialing services through its technology platforms.

Founded in 1985 as American Mobile Nurses, the company rebranded to AMN Healthcare in 2010 to reflect its expanding portfolio of services.