AMN Healthcare Services (NYSE:AMN) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of AMN Healthcare Services (NYSE:AMN) from a buy rating to a hold rating in a research report released on Tuesday.

Other equities research analysts have also issued research reports about the company. Weiss Ratings raised AMN Healthcare Services from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 11th. Zacks Research cut AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. UBS Group boosted their target price on AMN Healthcare Services from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Citigroup reissued an “outperform” rating on shares of AMN Healthcare Services in a report on Friday, August 14th. Finally, Truist Financial raised their price target on 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 equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $31.43.

AMN Healthcare Services Price Performance

AMN Healthcare Services stock opened at $35.07 on Tuesday. The company has a market cap of $1.36 billion, a P/E ratio of 13.09, a price-to-earnings-growth ratio of 1.26 and a beta of 0.40. AMN Healthcare Services has a one year low of $14.97 and a one year high of $37.22. The business has a fifty day moving average of $33.53 and a two-hundred day moving average of $26.51. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.13 and a current ratio of 1.13.

AMN Healthcare Services (NYSE:AMN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.58. AMN Healthcare Services had a net margin of 3.06% and a return on equity of 19.92%. The business had revenue of $673.24 million during the quarter, compared to the consensus estimate of $628.39 million. During the same quarter last year, the firm posted $0.30 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts predict that AMN Healthcare Services will post 3.1 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mark G. Foletta sold 3,681 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $31.07, for a total transaction of $114,368.67. Following the sale, the director owned 17,917 shares of the company’s stock, valued at $556,681.19. This trade represents a 17.04% decrease in their ownership of the stock. The transaction 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 owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new position in AMN Healthcare Services in the 4th quarter valued at about $32,000. Versant Capital Management Inc lifted its stake in shares of AMN Healthcare Services by 41.8% during the second quarter. Versant Capital Management Inc now owns 1,170 shares of the company’s stock valued at $38,000 after buying an additional 345 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of AMN Healthcare Services during the third quarter valued at approximately $63,000. Tower Research Capital LLC TRC boosted its position in AMN Healthcare Services by 49.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company’s stock worth $64,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Allworth Financial LP acquired a new stake in AMN Healthcare Services during the second quarter worth approximately $65,000. 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.