AMN Healthcare Services (NYSE:AMN) Trading Up 8.6% – Still a Buy?

AMN Healthcare Services Inc (NYSE:AMN) shares traded up 8.6% during mid-day trading on Wednesday . The stock traded as high as $16.44 and last traded at $16.6340. 83,679 shares changed hands during trading, a decline of 89% from the average session volume of 746,227 shares. The stock had previously closed at $15.32.

Wall Street Analysts Forecast Growth

AMN has been the subject of a number of analyst reports. Wall Street Zen raised AMN Healthcare Services from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Citizens Jmp lowered their price target on shares of AMN Healthcare Services from $24.00 to $22.00 and set a “market outperform” rating for the company in a report on Friday, December 19th. Truist Financial increased their price target on shares of AMN Healthcare Services from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Zacks Research upgraded shares of AMN Healthcare Services from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 25th. Finally, UBS Group upped their price objective on shares of AMN Healthcare Services from $18.00 to $20.50 and gave the company a “neutral” rating in a research note on Friday, November 7th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.42.

AMN Healthcare Services Stock Up 16.2%

The company has a 50-day moving average of $16.33 and a two-hundred day moving average of $18.50. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.31. The company has a market capitalization of $683.62 million, a P/E ratio of -2.50 and a beta of 0.20.

AMN Healthcare Services (NYSE:AMN) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.19 by $0.20. The business had revenue of $634.50 million during the quarter, compared to analyst estimates of $618.08 million. AMN Healthcare Services had a positive return on equity of 10.89% and a negative net margin of 10.14%.The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. On average, research analysts predict that AMN Healthcare Services Inc will post 1.33 EPS for the current year.

Hedge Funds Weigh In On AMN Healthcare Services

Large investors have recently made changes to their positions in the business. Woodline Partners LP bought a new stake in shares of AMN Healthcare Services in the 3rd quarter worth approximately $19,176,000. Millennium Management LLC raised its stake in AMN Healthcare Services by 262.1% during the third quarter. Millennium Management LLC now owns 1,287,918 shares of the company’s stock valued at $24,934,000 after buying an additional 932,269 shares during the last quarter. Federated Hermes Inc. boosted its holdings in AMN Healthcare Services by 307.2% in the second quarter. Federated Hermes Inc. now owns 651,409 shares of the company’s stock worth $13,465,000 after acquiring an additional 491,454 shares in the last quarter. CenterBook Partners LP grew its stake in shares of AMN Healthcare Services by 321.4% in the second quarter. CenterBook Partners LP now owns 639,863 shares of the company’s stock worth $13,226,000 after acquiring an additional 488,029 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC bought a new position in shares of AMN Healthcare Services during the second quarter valued at $8,227,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

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.