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

Shares of AMN Healthcare Services, Inc. (NYSE:AMN) reached a new 52-week low on Thursday . The stock traded as low as $21.30 and last traded at $21.44, with a volume of 455512 shares. The stock had previously closed at $23.35.

Analyst Ratings Changes

Several research firms recently commented on AMN. StockNews.com upgraded AMN Healthcare Services from a “sell” rating to a “hold” rating in a report on Tuesday, March 25th. JMP Securities reaffirmed a “market outperform” rating and set a $34.00 price target on shares of AMN Healthcare Services in a report on Thursday, February 6th. Truist Financial decreased their price objective on shares of AMN Healthcare Services from $47.00 to $40.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, BMO Capital Markets lowered their price objective on shares of AMN Healthcare Services from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.17.

AMN Healthcare Services Stock Down 6.6 %

The company has a current ratio of 1.09, a quick ratio of 1.18 and a debt-to-equity ratio of 1.49. The stock has a market cap of $833.05 million, a P/E ratio of -5.67 and a beta of 0.15. The company’s 50 day moving average price is $25.41 and its two-hundred day moving average price is $29.76.

AMN Healthcare Services (NYSE:AMN) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.23. AMN Healthcare Services had a negative net margin of 4.93% and a positive return on equity of 15.22%. The business had revenue of $734.71 million for the quarter, compared to the consensus estimate of $694.38 million. Equities analysts forecast that AMN Healthcare Services, Inc. will post 1.33 earnings per share for the current year.

Hedge Funds Weigh In On AMN Healthcare Services

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in AMN Healthcare Services by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 4,434,866 shares of the company’s stock worth $106,082,000 after buying an additional 108,284 shares in the last quarter. State Street Corp grew its stake in shares of AMN Healthcare Services by 1.1% during the 3rd quarter. State Street Corp now owns 1,520,429 shares of the company’s stock valued at $64,451,000 after acquiring an additional 16,075 shares during the period. Newtyn Management LLC purchased a new stake in AMN Healthcare Services in the 4th quarter worth approximately $28,417,000. WCM Investment Management LLC raised its stake in AMN Healthcare Services by 98.8% during the 4th quarter. WCM Investment Management LLC now owns 1,107,405 shares of the company’s stock worth $26,367,000 after acquiring an additional 550,427 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in AMN Healthcare Services by 32.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 887,211 shares of the company’s stock worth $21,222,000 after acquiring an additional 217,643 shares during the period. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

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.