AMN Healthcare Services (NYSE:AMN) Stock Price Down 6% – Here’s What Happened

AMN Healthcare Services Inc (NYSE:AMN) shares fell 6% during mid-day trading on Thursday . The stock traded as low as $17.57 and last traded at $17.4550. 176,378 shares were traded during mid-day trading, a decline of 87% from the average session volume of 1,352,605 shares. The stock had previously closed at $18.56.

Analyst Ratings Changes

A number of equities analysts have commented on AMN shares. Citizens Jmp boosted their target price on shares of AMN Healthcare Services from $22.00 to $24.00 and gave the stock a “market outperform” rating in a report on Monday, February 23rd. UBS Group lifted their price objective on shares of AMN Healthcare Services from $19.00 to $19.50 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AMN Healthcare Services in a research note on Wednesday, January 21st. Robert W. Baird raised their target price on shares of AMN Healthcare Services from $21.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Finally, Citigroup reaffirmed an “outperform” rating on shares of AMN Healthcare Services in a report on Monday, February 23rd. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $22.64.

AMN Healthcare Services Stock Performance

The firm has a market cap of $686.25 million, a price-to-earnings ratio of -7.13, a P/E/G ratio of 0.74 and a beta of 0.25. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a fifty day simple moving average of $19.48 and a two-hundred day simple moving average of $18.38.

AMN Healthcare Services (NYSE:AMN) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $748.23 million for the quarter, compared to the consensus estimate of $723.11 million. AMN Healthcare Services had a negative net margin of 3.51% and a positive return on equity of 8.05%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.75 earnings per share. On average, analysts expect that AMN Healthcare Services Inc will post 1.33 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Boston Partners raised its stake in AMN Healthcare Services by 7,583.1% in the 4th quarter. Boston Partners now owns 1,035,145 shares of the company’s stock worth $16,313,000 after acquiring an additional 1,021,672 shares during the last quarter. Woodline Partners LP acquired a new position in shares of AMN Healthcare Services in the third quarter valued at about $19,176,000. Millennium Management LLC raised its stake in shares of AMN Healthcare Services by 262.1% in the third quarter. Millennium Management LLC now owns 1,287,918 shares of the company’s stock worth $24,934,000 after purchasing an additional 932,269 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of AMN Healthcare Services by 307.2% in the second quarter. Federated Hermes Inc. now owns 651,409 shares of the company’s stock worth $13,465,000 after purchasing an additional 491,454 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its holdings in shares of AMN Healthcare Services by 91.3% during the third quarter. Tributary Capital Management LLC now owns 831,910 shares of the company’s stock worth $16,106,000 after purchasing an additional 397,086 shares during the period. Hedge funds and other institutional investors own 99.23% of the company’s stock.

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.