AMN Healthcare Services (NYSE:AMN) Trading Down 4.1% After Analyst Downgrade

AMN Healthcare Services Inc (NYSE:AMN) fell 4.1% during trading on Wednesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The company traded as low as $25.80 and last traded at $25.8220. 232,408 shares were traded during trading, a decline of 81% from the average session volume of 1,241,191 shares. The stock had previously closed at $26.92.

AMN has been the subject of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of AMN Healthcare Services in a research report on Wednesday, January 21st. BMO Capital Markets increased their target price on AMN Healthcare Services from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. UBS Group increased their target price on AMN Healthcare Services from $19.50 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Citigroup restated an “outperform” rating on shares of AMN Healthcare Services in a research report on Monday, February 23rd. Finally, Truist Financial raised their price target on AMN Healthcare Services from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.29.

Institutional Trading of AMN Healthcare Services

A number of institutional investors have recently bought and sold shares of AMN. Bank of America Corp DE lifted its position in shares of AMN Healthcare Services by 9.0% during the first quarter. Bank of America Corp DE now owns 587,369 shares of the company’s stock worth $10,772,000 after purchasing an additional 48,501 shares during the last quarter. Amundi bought a new stake in shares of AMN Healthcare Services during the first quarter worth $350,000. California State Teachers Retirement System lifted its position in shares of AMN Healthcare Services by 27.1% during the first quarter. California State Teachers Retirement System now owns 44,638 shares of the company’s stock worth $819,000 after purchasing an additional 9,519 shares during the last quarter. Readystate Asset Management LP lifted its position in shares of AMN Healthcare Services by 127.5% during the first quarter. Readystate Asset Management LP now owns 79,115 shares of the company’s stock worth $1,451,000 after purchasing an additional 44,337 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of AMN Healthcare Services by 18.9% during the first quarter. Royal Bank of Canada now owns 55,755 shares of the company’s stock worth $1,023,000 after purchasing an additional 8,859 shares during the last quarter. 99.23% of the stock is currently owned by institutional investors.

AMN Healthcare Services Stock Performance

The firm has a market capitalization of $1.07 billion, a P/E ratio of -31.62, a P/E/G ratio of 0.66 and a beta of 0.30. The firm has a 50-day moving average price of $21.28 and a two-hundred day moving average price of $19.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.09 and a quick ratio of 1.09.

AMN Healthcare Services (NYSE:AMN) last released its earnings results on Thursday, May 7th. The company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.50. AMN Healthcare Services had a positive return on equity of 18.01% and a negative net margin of 0.95%.The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.23 billion. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue for the quarter was up 99.9% compared to the same quarter last year. On average, analysts forecast that AMN Healthcare Services Inc will post 2.53 EPS for the current fiscal year.

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.