AMN Healthcare Services (NYSE:AMN) Sets New 1-Year High – Time to Buy?

AMN Healthcare Services Inc (NYSE:AMN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $32.70 and last traded at $32.25, with a volume of 253619 shares. The stock had previously closed at $31.88.

Analyst Ratings Changes

Several research firms have issued reports on AMN. Citigroup reiterated an “outperform” rating on shares of AMN Healthcare Services in a research report on Monday, February 23rd. UBS Group upped their target price on AMN Healthcare Services from $19.50 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Wall Street Zen raised AMN Healthcare Services from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Zacks Research lowered AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 20th. Finally, BMO Capital Markets increased their price objective on AMN Healthcare Services from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Four 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $25.29.

AMN Healthcare Services Trading Up 2.7%

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.04. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -37.37, a price-to-earnings-growth ratio of 0.71 and a beta of 0.44. The business has a 50 day moving average of $25.24 and a 200 day moving average of $20.66.

AMN Healthcare Services (NYSE:AMN) last posted its quarterly earnings data on Thursday, May 7th. The company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates 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 quarter last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was up 99.9% compared to the same quarter last year. On average, research analysts forecast that AMN Healthcare Services Inc will post 2.7 earnings per share for the current fiscal year.

Insider Transactions at AMN Healthcare Services

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

Institutional Trading of AMN Healthcare Services

Hedge funds have recently added to or reduced their stakes in the business. Lighthouse Investment Partners LLC boosted its stake in AMN Healthcare Services by 1,557.4% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 262,857 shares of the company’s stock worth $5,089,000 after buying an additional 246,997 shares during the last quarter. Algert Global LLC boosted its stake in AMN Healthcare Services by 10.5% in the 3rd quarter. Algert Global LLC now owns 576,651 shares of the company’s stock worth $11,164,000 after buying an additional 54,673 shares during the last quarter. Royce & Associates LP boosted its stake in AMN Healthcare Services by 20.9% in the 3rd quarter. Royce & Associates LP now owns 405,056 shares of the company’s stock worth $7,842,000 after buying an additional 70,140 shares during the last quarter. First National Bank of Omaha purchased a new position in shares of AMN Healthcare Services in the 3rd quarter worth about $1,406,000. Finally, Thompson Investment Management Inc. raised its holdings in shares of AMN Healthcare Services by 24.3% in the 4th quarter. Thompson Investment Management Inc. now owns 443,113 shares of the company’s stock worth $6,983,000 after purchasing an additional 86,579 shares during the period. 99.23% of the stock is owned by institutional investors and hedge funds.

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.