AMN Healthcare Services (NYSE:AMN) Raised to Strong-Buy at Wall Street Zen

AMN Healthcare Services (NYSE:AMN) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Sunday.

Several other research analysts have also recently issued reports on the stock. Citizens Jmp restated a “market outperform” rating and issued a $36.00 target price on shares of AMN Healthcare Services in a report on Tuesday, June 23rd. BMO Capital Markets upped their price target on shares of AMN Healthcare Services from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Citigroup reissued a “market outperform” rating on shares of AMN Healthcare Services in a research report on Tuesday, June 23rd. Truist Financial raised their price target on shares of AMN Healthcare Services from $26.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Zacks Research cut shares of 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 issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.86.

AMN Healthcare Services Trading Up 1.1%

NYSE AMN opened at $36.40 on Friday. The firm has a market cap of $1.41 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 0.83 and a beta of 0.40. AMN Healthcare Services has a 1-year low of $14.97 and a 1-year high of $37.22. The stock has a 50-day moving average of $32.65 and a 200-day moving average of $25.25. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 1.00.

AMN Healthcare Services (NYSE:AMN) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.58. The business had revenue of $673.24 million for the quarter, compared to analyst estimates of $628.39 million. AMN Healthcare Services had a return on equity of 19.92% and a net margin of 3.06%.AMN Healthcare Services’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. As a group, sell-side analysts forecast that AMN Healthcare Services will post 2.7 EPS for the current year.

Insider Activity at AMN Healthcare Services

In other AMN Healthcare Services news, Director Mark G. Foletta sold 3,681 shares of the company’s stock in a transaction 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 transaction, the director directly owned 17,917 shares in the company, valued at approximately $556,681.19. This represents a 17.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AMN Healthcare Services

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in AMN Healthcare Services during the 2nd quarter valued at about $215,047,000. Millennium Management LLC increased its stake in shares of AMN Healthcare Services by 55.8% during the fourth quarter. Millennium Management LLC now owns 2,005,966 shares of the company’s stock valued at $31,614,000 after purchasing an additional 718,048 shares in the last quarter. State Street Corp lifted its holdings in shares of AMN Healthcare Services by 1.8% during the fourth quarter. State Street Corp now owns 1,624,935 shares of the company’s stock valued at $25,609,000 after purchasing an additional 28,479 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of AMN Healthcare Services by 1,278.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,401,725 shares of the company’s stock valued at $25,708,000 after purchasing an additional 1,300,005 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of AMN Healthcare Services by 50.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,376,341 shares of the company’s stock worth $25,242,000 after purchasing an additional 463,100 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

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.