AMN Healthcare Services (NYSE:AMN) Sets New 12-Month Low – Time to Sell?

AMN Healthcare Services, Inc. (NYSE:AMN) hit a new 52-week low on Wednesday . The company traded as low as $23.26 and last traded at $23.48, with a volume of 692699 shares traded. The stock had previously closed at $24.47.

Wall Street Analyst Weigh In

Several analysts recently commented on AMN shares. William Blair downgraded AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Benchmark reaffirmed a “hold” rating on shares of AMN Healthcare Services in a research report on Wednesday, October 2nd. Truist Financial decreased their price objective on AMN Healthcare Services from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Bank of America downgraded shares of AMN Healthcare Services from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $65.00 to $48.00 in a report on Monday, October 7th. Finally, BMO Capital Markets lowered their price objective on shares of AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, AMN Healthcare Services currently has a consensus rating of “Hold” and a consensus price target of $48.33.

AMN Healthcare Services Price Performance

The firm has a market cap of $895.50 million, a price-to-earnings ratio of 17.04 and a beta of 0.04. The company’s fifty day moving average is $32.24 and its 200 day moving average is $44.89. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.27.

AMN Healthcare Services (NYSE:AMN) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $687.51 million during the quarter, compared to the consensus estimate of $670.08 million. AMN Healthcare Services had a net margin of 1.73% and a return on equity of 17.16%. During the same period in the prior year, the business posted $1.97 EPS. On average, equities research analysts predict that AMN Healthcare Services, Inc. will post 3.07 EPS for the current year.

Insiders Place Their Bets

In other AMN Healthcare Services news, CFO Jeffrey R. Knudson sold 2,461 shares of the stock in a transaction on Saturday, November 2nd. The shares were sold at an average price of $36.90, for a total value of $90,810.90. Following the completion of the sale, the chief financial officer now owns 37,550 shares in the company, valued at $1,385,595. This trade represents a 6.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On AMN Healthcare Services

Institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its stake in AMN Healthcare Services by 3.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,730 shares of the company’s stock valued at $345,000 after buying an additional 252 shares during the period. Raymond James & Associates raised its stake in AMN Healthcare Services by 131.9% in the 2nd quarter. Raymond James & Associates now owns 26,163 shares of the company’s stock valued at $1,340,000 after acquiring an additional 14,879 shares during the period. Nisa Investment Advisors LLC lifted its holdings in AMN Healthcare Services by 41.4% during 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 last quarter. SummerHaven Investment Management LLC boosted its position in AMN Healthcare Services by 4.1% during the second quarter. SummerHaven Investment Management LLC now owns 7,024 shares of the company’s stock worth $360,000 after purchasing an additional 278 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in shares of AMN Healthcare Services by 2.1% in the second quarter. Louisiana State Employees Retirement System now owns 19,100 shares of the company’s stock valued at $978,000 after purchasing an additional 400 shares during the last quarter. 99.23% of the stock is owned by institutional investors.

AMN Healthcare Services Company Profile

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.