AMN Healthcare Services (NYSE:AMN) Hits New 12-Month Low After Analyst Downgrade

Shares of AMN Healthcare Services, Inc. (NYSE:AMN) hit a new 52-week low during trading on Friday after Truist Financial lowered their price target on the stock from $50.00 to $47.00. Truist Financial currently has a buy rating on the stock. AMN Healthcare Services traded as low as $29.26 and last traded at $29.41, with a volume of 174660 shares trading hands. The stock had previously closed at $40.92.

AMN has been the topic of a number of other research reports. Bank of America cut AMN Healthcare Services from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $65.00 to $48.00 in a report on Monday, October 7th. JMP Securities decreased their price target on shares of AMN Healthcare Services from $66.00 to $57.00 and set a “market outperform” rating on the stock in a report on Tuesday, October 22nd. StockNews.com cut shares of AMN Healthcare Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. BMO Capital Markets upped their price target on shares of AMN Healthcare Services from $60.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, August 12th. Finally, UBS Group cut their price target on shares of AMN Healthcare Services from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.60.

Insider Transactions at AMN Healthcare Services

In other news, CFO Jeffrey R. Knudson sold 2,461 shares of the firm’s stock in a transaction on Saturday, November 2nd. The stock was sold at an average price of $36.90, for a total transaction of $90,810.90. Following the completion of the transaction, the chief financial officer now directly owns 37,550 shares in the company, valued at $1,385,595. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On AMN Healthcare Services

A number of hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its stake in AMN Healthcare Services by 41.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 748 shares of the company’s stock valued at $38,000 after acquiring an additional 219 shares during the period. Arizona State Retirement System lifted its position in AMN Healthcare Services by 2.1% during the second quarter. Arizona State Retirement System now owns 10,606 shares of the company’s stock valued at $543,000 after purchasing an additional 221 shares during the period. Pitcairn Co. boosted its holdings in AMN Healthcare Services by 4.2% in the first quarter. Pitcairn Co. now owns 6,138 shares of the company’s stock worth $384,000 after purchasing an additional 249 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in AMN Healthcare Services by 3.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,730 shares of the company’s stock worth $345,000 after purchasing an additional 252 shares during the period. Finally, SummerHaven Investment Management LLC raised its stake in AMN Healthcare Services by 4.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,024 shares of the company’s stock valued at $360,000 after buying an additional 278 shares during the last quarter. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

AMN Healthcare Services Price Performance

The stock has a market capitalization of $1.09 billion, a P/E ratio of 11.36 and a beta of 0.13. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a fifty day moving average price of $42.61 and a two-hundred day moving average price of $51.23.

AMN Healthcare Services (NYSE:AMN) last posted its earnings results on Thursday, August 8th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.22. The company had revenue of $740.69 million for the quarter, compared to the consensus estimate of $740.43 million. AMN Healthcare Services had a return on equity of 23.68% and a net margin of 3.07%. AMN Healthcare Services’s revenue was down 25.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.38 earnings per share. As a group, analysts expect that AMN Healthcare Services, Inc. will post 3.15 EPS for the current fiscal year.

AMN Healthcare Services Company Profile

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.