AMN Healthcare Services (NYSE:AMN) Trading Down 7% Following Analyst Downgrade

AMN Healthcare Services, Inc. (NYSE:AMN) dropped 7% during mid-day trading on Monday after BMO Capital Markets lowered their price target on the stock from $50.00 to $46.00. BMO Capital Markets currently has an outperform rating on the stock. AMN Healthcare Services traded as low as $26.77 and last traded at $27.03. Approximately 797,031 shares traded hands during trading, a decline of 2% from the average daily volume of 814,452 shares. The stock had previously closed at $29.05.

Several other analysts have also recently issued reports on AMN. Benchmark reaffirmed a “hold” rating on shares of AMN Healthcare Services in a research report on Wednesday, October 2nd. JMP Securities dropped their price objective 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. StockNews.com downgraded shares of AMN Healthcare Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Bank of America cut shares of AMN Healthcare Services from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $65.00 to $48.00 in a report on Monday, October 7th. Finally, Truist Financial cut their price objective on shares of AMN Healthcare Services from $50.00 to $47.00 and set a “buy” rating on the stock in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, AMN Healthcare Services has a consensus rating of “Hold” and a consensus price target of $52.60.

Insider Transactions at AMN Healthcare Services

In related news, CFO Jeffrey R. Knudson sold 2,461 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 37,550 shares of the company’s stock, valued at $1,385,595. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.93% of the company’s stock.

Institutional Trading of AMN Healthcare Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of AMN Healthcare Services by 41.4% in the second 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. Arizona State Retirement System boosted its position in AMN Healthcare Services by 2.1% in the second quarter. Arizona State Retirement System now owns 10,606 shares of the company’s stock valued at $543,000 after buying an additional 221 shares during the last quarter. Pitcairn Co. increased its holdings in AMN Healthcare Services by 4.2% in the 1st quarter. Pitcairn Co. now owns 6,138 shares of the company’s stock worth $384,000 after buying an additional 249 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in AMN Healthcare Services by 3.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,730 shares of the company’s stock valued at $345,000 after acquiring an additional 252 shares during the period. Finally, SummerHaven Investment Management LLC boosted its holdings in shares of AMN Healthcare Services by 4.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,024 shares of the company’s stock valued at $360,000 after acquiring an additional 278 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

AMN Healthcare Services Price Performance

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.36. The stock’s 50 day moving average price is $41.09 and its two-hundred day moving average price is $50.54. The stock has a market cap of $991.42 million, a price-to-earnings ratio of 18.91 and a beta of 0.13.

AMN Healthcare Services (NYSE:AMN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The company had revenue of $687.51 million for the quarter, compared to the consensus estimate of $670.08 million. AMN Healthcare Services had a return on equity of 17.35% and a net margin of 1.73%. During the same period last year, the firm earned $1.97 EPS. Equities research analysts forecast that AMN Healthcare Services, Inc. will post 3.13 EPS for the current fiscal year.

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.