AMN Healthcare Services (NYSE:AMN) Sets New 1-Year Low on Analyst Downgrade

AMN Healthcare Services, Inc. (NYSE:AMN)’s stock price reached a new 52-week low during trading on Thursday after Jefferies Financial Group lowered their price target on the stock from $41.00 to $27.00. Jefferies Financial Group currently has a hold rating on the stock. AMN Healthcare Services traded as low as $23.79 and last traded at $23.82, with a volume of 44854 shares traded. The stock had previously closed at $24.60.

A number of other equities research analysts have also recently issued reports on the company. UBS Group decreased their target price on AMN Healthcare Services from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. William Blair cut AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research report 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 target price 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. Finally, BMO Capital Markets decreased their target price on AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, AMN Healthcare Services presently has a consensus rating of “Hold” and a consensus price target of $48.33.

Insider Activity

In other news, CFO Jeffrey R. Knudson sold 2,461 shares of the stock in a transaction that occurred on Saturday, November 2nd. The stock was 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 directly owns 37,550 shares of the company’s stock, valued at approximately $1,385,595. This represents a 6.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.93% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AMN. Truvestments Capital LLC bought a new position in AMN Healthcare Services in the third quarter worth $30,000. Mather Group LLC. bought a new position in AMN Healthcare Services in the second quarter worth $31,000. Nisa Investment Advisors LLC lifted its position in AMN Healthcare Services by 41.4% in the second quarter. Nisa Investment Advisors LLC now owns 748 shares of the company’s stock worth $38,000 after purchasing an additional 219 shares during the period. GAMMA Investing LLC lifted its position in AMN Healthcare Services by 232.4% in the second quarter. GAMMA Investing LLC now owns 1,160 shares of the company’s stock worth $59,000 after purchasing an additional 811 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in AMN Healthcare Services by 455.0% in the third quarter. Farther Finance Advisors LLC now owns 1,493 shares of the company’s stock worth $63,000 after purchasing an additional 1,224 shares during the period. 99.23% of the stock is owned by institutional investors.

AMN Healthcare Services Stock Performance

The stock has a market capitalization of $908.35 million, a P/E ratio of 17.16 and a beta of 0.13. The firm has a 50-day moving average of $40.52 and a 200 day moving average of $50.36. The company has a quick ratio of 1.23, a current ratio of 1.18 and a debt-to-equity ratio of 1.27.

AMN Healthcare Services (NYSE:AMN) last issued its earnings results on Thursday, November 7th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. The firm had revenue of $687.51 million during the quarter, compared to analysts’ expectations of $670.08 million. AMN Healthcare Services had a return on equity of 17.16% and a net margin of 1.73%. During the same period last year, the business earned $1.97 earnings per share. Research analysts anticipate that AMN Healthcare Services, Inc. will post 3.11 EPS for the current fiscal year.

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.