AMN Healthcare Services (NYSE:AMN) Shares Down 4.1% – Should You Sell?

AMN Healthcare Services Inc (NYSE:AMN) shares fell 4.1% during trading on Wednesday . The company traded as low as $25.80 and last traded at $25.8220. 232,408 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 1,241,191 shares. The stock had previously closed at $26.92.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AMN. Weiss Ratings reiterated a “sell (d-)” rating on shares of AMN Healthcare Services in a research report on Wednesday, January 21st. Truist Financial increased their price objective on AMN Healthcare Services from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wall Street Zen upgraded AMN Healthcare Services from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Citigroup restated an “outperform” rating on shares of AMN Healthcare Services in a research report on Monday, February 23rd. Finally, BMO Capital Markets raised their price target on AMN Healthcare Services from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $25.29.

AMN Healthcare Services Price Performance

The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $1.02 billion, a P/E ratio of -30.40, a price-to-earnings-growth ratio of 0.71 and a beta of 0.30. The company has a 50-day moving average price of $21.05 and a 200-day moving average price of $18.98.

AMN Healthcare Services (NYSE:AMN) last posted its quarterly 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 business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same period last year, the company earned $0.45 EPS. The firm’s revenue was up 99.9% on a year-over-year basis. On average, sell-side analysts predict that AMN Healthcare Services Inc will post 2.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMN. Arrowstreet Capital Limited Partnership lifted its holdings in AMN Healthcare Services by 1,278.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,401,725 shares of the company’s stock worth $25,708,000 after acquiring an additional 1,300,005 shares in the last quarter. Boston Partners lifted its holdings in AMN Healthcare Services by 7,583.1% during the fourth 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 in the last quarter. Woodline Partners LP bought a new position in AMN Healthcare Services during the third quarter worth about $19,176,000. Millennium Management LLC lifted its holdings in AMN Healthcare Services by 262.1% during the third quarter. Millennium Management LLC now owns 1,287,918 shares of the company’s stock worth $24,934,000 after acquiring an additional 932,269 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in AMN Healthcare Services by 50.7% during the first quarter. Renaissance Technologies LLC now owns 1,376,341 shares of the company’s stock worth $25,242,000 after acquiring an additional 463,100 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors.

AMN Healthcare Services Company Profile

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.