AMN Healthcare Services (NYSE:AMN) Hits New 12-Month Low After Analyst Downgrade

AMN Healthcare Services, Inc. (NYSE:AMN)’s stock price reached a new 52-week low during trading on Friday after Truist Financial lowered their price target on the stock from $50.00 to $47.00. Truist Financial currently has a buy rating on the stock. AMN Healthcare Services traded as low as $29.26 and last traded at $29.41, with a volume of 174660 shares trading hands. The stock had previously closed at $40.92.

Several other equities analysts have also issued reports on AMN. Bank of America lowered AMN Healthcare Services from a “neutral” rating to an “underperform” rating and cut their price target for the company from $65.00 to $48.00 in a research note on Monday, October 7th. StockNews.com cut shares of AMN Healthcare Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Benchmark reaffirmed a “hold” rating on shares of AMN Healthcare Services in a research note on Wednesday, October 2nd. UBS Group dropped their target price on shares of AMN Healthcare Services from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Finally, JMP Securities reduced their price target on AMN Healthcare Services from $66.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.60.

Insider Activity

In other news, CFO Jeffrey R. Knudson sold 2,461 shares of the firm’s stock in a transaction dated Saturday, November 2nd. The stock was sold at an average price of $36.90, for a total value of $90,810.90. Following the completion of the transaction, the chief financial officer now owns 37,550 shares in the company, valued at $1,385,595. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.93% of the stock is owned by corporate insiders.

Institutional Trading of AMN Healthcare Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Mather Group LLC. bought a new stake in shares of AMN Healthcare Services during the 2nd quarter worth $31,000. Nisa Investment Advisors LLC lifted its stake in shares of AMN Healthcare Services by 41.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 748 shares of the company’s stock valued at $38,000 after purchasing an additional 219 shares during the period. Geneos Wealth Management Inc. acquired a new stake in AMN Healthcare Services in the first quarter valued at approximately $58,000. GAMMA Investing LLC raised its position in shares of AMN Healthcare Services by 232.4% during the second quarter. GAMMA Investing LLC now owns 1,160 shares of the company’s stock worth $59,000 after purchasing an additional 811 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of AMN Healthcare Services by 455.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,493 shares of the company’s stock worth $63,000 after purchasing an additional 1,224 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

AMN Healthcare Services Stock Down 29.6 %

The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.23 and a current ratio of 1.23. The stock’s 50 day simple moving average is $42.61 and its 200 day simple moving average is $51.23. The firm has a market cap of $1.09 billion, a P/E ratio of 11.36 and a beta of 0.13.

AMN Healthcare Services (NYSE:AMN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.22. The business had revenue of $740.69 million during the quarter, compared to the consensus estimate of $740.43 million. AMN Healthcare Services had a return on equity of 23.68% and a net margin of 3.07%. AMN Healthcare Services’s revenue was down 25.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.38 earnings per share. Research analysts anticipate that AMN Healthcare Services, Inc. will post 3.15 EPS for the current year.

About AMN Healthcare Services

AMN Healthcare Services, Inc provides healthcare workforce solutions and staffing services to healthcare facilities in the United States. It operates through three segments: Nurse and Allied Solutions, Physician and Leadership Solutions, and Technology and Workforce Solutions. The Nurse and Allied Solutions segment offers travel nurse staffing, labor disruption staffing, local staffing, international nurse and allied permanent placement, and allied staffing solutions.