AMN Healthcare Services (NYSE:AMN) Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of AMN Healthcare Services (NYSE:AMN) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

AMN has been the topic of a number of other research reports. Zacks Research downgraded shares of AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Citigroup reiterated a “market outperform” rating on shares of AMN Healthcare Services in a research report on Tuesday, June 23rd. BMO Capital Markets lifted 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 report on Tuesday, June 23rd. Finally, Truist Financial upped their price target on shares of AMN Healthcare Services from $26.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, AMN Healthcare Services currently has an average rating of “Hold” and an average target price of $29.00.

AMN Healthcare Services Price Performance

AMN Healthcare Services stock opened at $33.00 on Friday. The stock’s 50 day moving average is $32.10 and its 200 day moving average is $24.74. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $1.28 billion, a P/E ratio of -37.94, a P/E/G ratio of 0.77 and a beta of 0.41. AMN Healthcare Services has a one year low of $14.86 and a one year high of $36.27.

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

Insider Transactions at AMN Healthcare Services

In other AMN Healthcare Services news, Director Mark G. Foletta sold 3,681 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $31.07, for a total value of $114,368.67. Following the transaction, the director directly owned 17,917 shares of the company’s stock, valued at approximately $556,681.19. The trade was a 17.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.07% of the company’s stock.

Institutional Trading of AMN Healthcare Services

Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. bought a new stake in shares of AMN Healthcare Services in the 2nd quarter valued at $1,464,000. Versant Capital Management Inc grew its holdings in AMN Healthcare Services by 41.8% in the second quarter. Versant Capital Management Inc now owns 1,170 shares of the company’s stock worth $38,000 after purchasing an additional 345 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in AMN Healthcare Services in the first quarter worth $382,000. Bank of America Corp DE increased its stake in AMN Healthcare Services by 9.0% in the first quarter. Bank of America Corp DE now owns 587,369 shares of the company’s stock valued at $10,772,000 after purchasing an additional 48,501 shares in the last quarter. Finally, Amundi acquired a new position in shares of AMN Healthcare Services during the first quarter valued at about $350,000. 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.