AMN Healthcare Services (NYSE:AMN) Reaches New 52-Week High – Here’s Why

AMN Healthcare Services Inc (NYSE:AMN)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $33.48 and last traded at $33.2180, with a volume of 147108 shares changing hands. The stock had previously closed at $32.33.

Wall Street Analyst Weigh In

AMN has been the topic of a number of recent research reports. Citigroup reissued a “market outperform” rating on shares of AMN Healthcare Services in a report on Tuesday. 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 research report on Monday, May 11th. Wall Street Zen upgraded shares of AMN Healthcare Services from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Zacks Research downgraded shares of AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, UBS Group boosted their target price on shares of AMN Healthcare Services from $19.50 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.00.

AMN Healthcare Services Trading Up 1.3%

The stock has a 50 day moving average of $27.05 and a 200-day moving average of $21.38. The company has a market capitalization of $1.27 billion, a P/E ratio of -37.67, a P/E/G ratio of 0.73 and a beta of 0.44. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.04.

AMN Healthcare Services (NYSE:AMN) last released its earnings results on Thursday, May 7th. The company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.50. AMN Healthcare Services had a negative net margin of 0.95% and a positive return on equity of 18.01%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business earned $0.45 EPS. The firm’s revenue was up 99.9% compared to the same quarter last year. On average, research analysts predict that AMN Healthcare Services Inc will post 2.7 EPS for the current year.

Insider Activity

In other news, Director Mark G. Foletta sold 3,681 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $31.07, for a total transaction of $114,368.67. Following the sale, the director directly owned 17,917 shares in the company, valued at $556,681.19. This trade represents a 17.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AMN Healthcare Services

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada raised its holdings in AMN Healthcare Services by 1.5% during the first quarter. Royal Bank of Canada now owns 194,366 shares of the company’s stock valued at $4,753,000 after acquiring an additional 2,784 shares during the period. AQR Capital Management LLC boosted its stake in shares of AMN Healthcare Services by 54.2% in the first quarter. AQR Capital Management LLC now owns 98,026 shares of the company’s stock worth $2,398,000 after acquiring an additional 34,465 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of AMN Healthcare Services in the first quarter worth about $283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of AMN Healthcare Services by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,938 shares of the company’s stock worth $1,050,000 after purchasing an additional 1,153 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of AMN Healthcare Services by 13.7% during the first quarter. Goldman Sachs Group Inc. now owns 429,908 shares of the company’s stock worth $10,516,000 after purchasing an additional 51,737 shares in the last quarter. Hedge funds and other 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.