AMN Healthcare Services (NYSE:AMN) Trading 7.3% Higher – Time to Buy?

AMN Healthcare Services Inc (NYSE:AMN)’s stock price rose 7.3% during mid-day trading on Monday . The company traded as high as $34.76 and last traded at $34.72. Approximately 135,936 shares traded hands during trading, a decline of 89% from the average session volume of 1,189,363 shares. The stock had previously closed at $32.37.

Analysts Set New Price Targets

A number of analysts have recently commented on AMN shares. BMO Capital Markets boosted their target price on shares of AMN Healthcare Services from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Citizens Jmp restated a “market outperform” rating and issued a $36.00 target price on shares of AMN Healthcare Services in a research report on Tuesday, June 23rd. Wall Street Zen upgraded AMN Healthcare Services from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. Zacks Research lowered AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, UBS Group boosted their price target on shares of AMN Healthcare Services from $19.50 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $27.00.

AMN Healthcare Services Stock Up 6.6%

The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -39.68, a PEG ratio of 0.74 and a beta of 0.41. The business has a fifty day moving average of $29.84 and a 200 day moving average of $22.71. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.09 and a quick ratio of 1.09.

AMN Healthcare Services (NYSE:AMN) last posted its earnings results on Thursday, May 7th. The company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.50. AMN Healthcare Services had a positive return on equity of 18.01% and a negative net margin of 0.95%.The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the firm earned $0.45 earnings per share. The firm’s quarterly revenue was up 99.9% compared to the same quarter last year. As a group, equities analysts predict that AMN Healthcare Services Inc will post 2.7 earnings per share for the current year.

Insiders Place Their Bets

In other AMN Healthcare Services news, Director Mark G. Foletta sold 3,681 shares of AMN Healthcare Services stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $31.07, for a total transaction of $114,368.67. Following the completion of the sale, the director directly owned 17,917 shares in the company, valued at $556,681.19. This trade represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is currently owned by company insiders.

Institutional Trading of AMN Healthcare Services

Several institutional investors have recently added to or reduced their stakes in AMN. Lighthouse Investment Partners LLC lifted its stake in AMN Healthcare Services by 1,557.4% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 262,857 shares of the company’s stock worth $5,089,000 after acquiring an additional 246,997 shares in the last quarter. Algert Global LLC boosted its stake in shares of AMN Healthcare Services by 10.5% in the third quarter. Algert Global LLC now owns 576,651 shares of the company’s stock valued at $11,164,000 after purchasing an additional 54,673 shares during the period. Thompson Investment Management Inc. grew its holdings in shares of AMN Healthcare Services by 24.3% in the fourth quarter. Thompson Investment Management Inc. now owns 443,113 shares of the company’s stock valued at $6,983,000 after purchasing an additional 86,579 shares in the last quarter. FourThought Financial Partners LLC purchased a new stake in AMN Healthcare Services during the 4th quarter worth approximately $293,000. Finally, Nordea Investment Management AB lifted its holdings in AMN Healthcare Services by 15.0% during the 4th quarter. Nordea Investment Management AB now owns 215,493 shares of the company’s stock worth $3,407,000 after buying an additional 28,136 shares in the last quarter. Institutional investors and hedge funds 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.