AMN Healthcare Services, Inc. (NYSE:AMN) Sees Significant Drop in Short Interest

AMN Healthcare Services, Inc. (NYSE:AMN) saw a significant drop in short interest in March. As of March 31st, there was short interest totalling 3,830,000 shares, a drop of 13.5% from the March 15th total of 4,430,000 shares. Based on an average trading volume of 812,800 shares, the days-to-cover ratio is currently 4.7 days. Currently, 10.2% of the company’s stock are sold short.

AMN Healthcare Services Stock Performance

Shares of NYSE AMN traded down $0.27 during midday trading on Tuesday, reaching $56.82. 618,693 shares of the company traded hands, compared to its average volume of 790,872. AMN Healthcare Services has a 52 week low of $53.77 and a 52 week high of $112.44. The stock has a 50-day moving average price of $62.22 and a 200 day moving average price of $69.05. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 10.74 and a beta of 0.22.

AMN Healthcare Services (NYSE:AMN) last issued its quarterly earnings data on Thursday, February 15th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. AMN Healthcare Services had a net margin of 5.56% and a return on equity of 38.29%. The business had revenue of $818.27 million for the quarter, compared to analysts’ expectations of $803.14 million. During the same period in the previous year, the business earned $2.48 earnings per share. The company’s revenue was down 27.3% on a year-over-year basis. Sell-side analysts anticipate that AMN Healthcare Services will post 3.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on AMN shares. BMO Capital Markets reduced their price objective on AMN Healthcare Services from $85.00 to $83.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 20th. StockNews.com cut AMN Healthcare Services from a “hold” rating to a “sell” rating in a research note on Monday. Finally, JMP Securities cut their target price on AMN Healthcare Services from $87.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $87.25.

Insider Buying and Selling at AMN Healthcare Services

In other AMN Healthcare Services news, Director Jorge A. Caballero bought 2,000 shares of AMN Healthcare Services stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $56.80 per share, for a total transaction of $113,600.00. Following the purchase, the director now owns 2,437 shares in the company, valued at approximately $138,421.60. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other AMN Healthcare Services news, Director Jorge A. Caballero bought 2,000 shares of AMN Healthcare Services stock in a transaction dated Wednesday, March 6th. The stock was bought at an average cost of $56.80 per share, for a total transaction of $113,600.00. Following the purchase, the director now owns 2,437 shares in the company, valued at approximately $138,421.60. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Caroline Grace acquired 17,500 shares of AMN Healthcare Services stock in a transaction that occurred on Tuesday, February 27th. The shares were purchased at an average price of $56.68 per share, for a total transaction of $991,900.00. Following the completion of the purchase, the chief executive officer now directly owns 27,178 shares of the company’s stock, valued at $1,540,449.04. The disclosure for this purchase can be found here. Insiders bought 26,626 shares of company stock valued at $1,516,899 over the last 90 days. 0.93% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AMN Healthcare Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in AMN Healthcare Services by 1.1% in the first quarter. Vanguard Group Inc. now owns 5,662,414 shares of the company’s stock worth $590,760,000 after acquiring an additional 59,967 shares in the last quarter. Boston Partners raised its position in AMN Healthcare Services by 102.7% in the fourth quarter. Boston Partners now owns 2,884,550 shares of the company’s stock worth $216,038,000 after acquiring an additional 1,461,541 shares in the last quarter. State Street Corp raised its position in AMN Healthcare Services by 3.7% in the first quarter. State Street Corp now owns 1,555,978 shares of the company’s stock worth $162,335,000 after acquiring an additional 56,075 shares in the last quarter. Pacer Advisors Inc. raised its position in AMN Healthcare Services by 145.8% in the fourth quarter. Pacer Advisors Inc. now owns 1,396,603 shares of the company’s stock worth $104,578,000 after acquiring an additional 828,390 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in AMN Healthcare Services by 12.9% in the first quarter. Federated Hermes Inc. now owns 1,160,843 shares of the company’s stock worth $121,110,000 after acquiring an additional 132,587 shares in the last quarter. 99.23% of the stock is currently owned by institutional investors.

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.