AMN Healthcare Services (NYSE:AMN) Reaches New 1-Year High – What’s Next?

AMN Healthcare Services Inc (NYSE:AMN)’s stock price reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $41.83 and last traded at $41.5660, with a volume of 682,085 shares. The stock had previously closed at $40.50.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AMN shares. Citigroup reiterated an “outperform” rating on shares of AMN Healthcare Services in a report on Friday, August 14th. Robert W. Baird set a $36.00 target price on AMN Healthcare Services in a research note on Friday, August 7th. Truist Financial upped their price target on AMN Healthcare Services from $26.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of AMN Healthcare Services from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, September 18th. Finally, UBS Group increased their price target on shares of AMN Healthcare Services from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, AMN Healthcare Services currently has an average rating of “Moderate Buy” and an average target price of $36.50.

AMN Healthcare Services Price Performance

The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.48 and a beta of 0.40. The company has a fifty day moving average price of $35.66 and a two-hundred day moving average price of $31.26. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.00.

AMN Healthcare Services (NYSE:AMN) last announced its earnings results on Thursday, August 6th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.58. AMN Healthcare Services had a net margin of 3.06% and a return on equity of 19.92%. The business had revenue of $673.24 million for the quarter, compared to analysts’ expectations of $628.39 million. During the same period in the previous year, the company posted $0.30 EPS. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that AMN Healthcare Services Inc will post 3.32 EPS for the current fiscal year.

Institutional Investors Weigh In On AMN Healthcare Services

A number of institutional investors and hedge funds have recently made changes to their positions in AMN. Versant Capital Management Inc lifted its position in AMN Healthcare Services by 41.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,170 shares of the company’s stock worth $38,000 after acquiring an additional 345 shares during the period. IFP Advisors Inc increased its holdings in shares of AMN Healthcare Services by 849.6% in the second quarter. IFP Advisors Inc now owns 1,282 shares of the company’s stock valued at $41,000 after purchasing an additional 1,147 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of AMN Healthcare Services in the second quarter valued at approximately $49,000. Allworth Financial LP acquired a new position in shares of AMN Healthcare Services in the second quarter valued at approximately $65,000. Finally, Globeflex Capital L P purchased a new stake in shares of AMN Healthcare Services during the first quarter worth approximately $131,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

About AMN Healthcare Services

AMN Healthcare Services, Inc is a healthcare workforce solutions and technology company that helps hospitals, health systems, medical practices and other healthcare organizations recruit, deploy and manage clinical and nonclinical personnel. The company operates through a portfolio of staffing, workforce management and language-services businesses.

Its services include temporary and permanent placement of registered nurses, allied healthcare professionals and physicians, as well as locum tenens staffing for doctors and advanced practice professionals.