AMN Healthcare Services (NYSE:AMN) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of AMN Healthcare Services (NYSE:AMN) from a strong-buy rating to a buy rating in a report issued on Monday.

Other equities research analysts also recently issued reports about the stock. Truist Financial boosted their price target on shares of AMN Healthcare Services from $26.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Citizens Jmp lifted their target price on shares of AMN Healthcare Services from $36.00 to $40.00 and gave the stock a “market outperform” rating in a report on Friday, August 14th. Robert W. Baird set a $36.00 target price on shares of AMN Healthcare Services in a research report on Friday, August 7th. BMO Capital Markets increased their price target 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. Finally, Zacks Research lowered AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $31.43.

AMN Healthcare Services Price Performance

AMN Healthcare Services stock opened at $35.25 on Monday. The business’s 50-day simple moving average is $33.15 and its 200 day simple moving average is $25.94. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.00. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.27 and a beta of 0.40. AMN Healthcare Services has a 12-month low of $14.97 and a 12-month high of $37.22.

AMN Healthcare Services (NYSE:AMN) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.58. The firm had revenue of $673.24 million during the quarter, compared to analysts’ expectations of $628.39 million. AMN Healthcare Services had a return on equity of 19.92% and a net margin of 3.06%.The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 EPS. As a group, research analysts anticipate that AMN Healthcare Services will post 3.1 earnings per share for the current year.

Insider Buying and Selling

In other AMN Healthcare Services news, Director Mark G. Foletta sold 3,681 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $31.07, for a total value of $114,368.67. Following the completion of the sale, the director owned 17,917 shares of the company’s stock, valued at approximately $556,681.19. This represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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

Large investors have recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in AMN Healthcare Services during the fourth quarter worth about $32,000. Versant Capital Management Inc increased its holdings in shares of AMN Healthcare Services by 41.8% in the second quarter. Versant Capital Management Inc now owns 1,170 shares of the company’s stock worth $38,000 after acquiring an additional 345 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its holdings in shares of AMN Healthcare Services by 200.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,000 shares of the company’s stock worth $47,000 after acquiring an additional 2,000 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of AMN Healthcare Services during the third quarter worth about $63,000. Finally, Tower Research Capital LLC TRC raised its position in shares of AMN Healthcare Services by 49.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company’s stock worth $64,000 after purchasing an additional 1,020 shares during the period. Institutional investors own 99.23% of the company’s stock.

About AMN Healthcare Services

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.