AMN Healthcare Services (NYSE:AMN) Trading Up 8.8% – Here’s Why

AMN Healthcare Services, Inc. (NYSE:AMN)’s share price was up 8.8% during mid-day trading on Monday . The stock traded as high as $25.84 and last traded at $25.78. Approximately 873,255 shares were traded during trading, an increase of 3% from the average daily volume of 845,419 shares. The stock had previously closed at $23.70.

Analyst Ratings Changes

AMN has been the topic of a number of recent analyst reports. Bank of America lowered AMN Healthcare Services from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $65.00 to $48.00 in a research report on Monday, October 7th. Jefferies Financial Group dropped their price objective on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. William Blair lowered AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. StockNews.com cut AMN Healthcare Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Finally, BMO Capital Markets dropped their target price on shares of AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, AMN Healthcare Services currently has an average rating of “Hold” and an average target price of $48.33.

AMN Healthcare Services Stock Down 1.0 %

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.27. The firm’s fifty day moving average price is $38.73 and its 200-day moving average price is $49.30. The company has a market cap of $944.04 million, a price-to-earnings ratio of 18.09 and a beta of 0.13.

AMN Healthcare Services (NYSE:AMN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. The company had revenue of $687.51 million for the quarter, compared to analyst estimates of $670.08 million. AMN Healthcare Services had a net margin of 1.73% and a return on equity of 17.16%. During the same quarter in the previous year, the firm posted $1.97 earnings per share. Sell-side analysts predict that AMN Healthcare Services, Inc. will post 3.09 earnings per share for the current year.

Insider Buying and Selling

In other AMN Healthcare Services news, CFO Jeffrey R. Knudson sold 2,461 shares of the stock in a transaction on Saturday, November 2nd. The stock was sold at an average price of $36.90, for a total value of $90,810.90. Following the sale, the chief financial officer now directly owns 37,550 shares of the company’s stock, valued at $1,385,595. This trade represents a 6.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.93% of the stock is currently owned by company insiders.

Institutional Trading of AMN Healthcare Services

Several hedge funds have recently modified their holdings of 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 in the last quarter. Arizona State Retirement System boosted its stake in shares of AMN Healthcare Services by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 10,606 shares of the company’s stock worth $543,000 after acquiring an additional 221 shares in the last quarter. Pitcairn Co. grew its holdings in AMN Healthcare Services by 4.2% in the 1st quarter. Pitcairn Co. now owns 6,138 shares of the company’s stock valued at $384,000 after buying an additional 249 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of AMN Healthcare Services by 3.9% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,730 shares of the company’s stock valued at $345,000 after purchasing an additional 252 shares during the period. Finally, SummerHaven Investment Management LLC increased its position in AMN Healthcare Services by 4.1% during the second quarter. SummerHaven Investment Management LLC now owns 7,024 shares of the company’s stock worth $360,000 after buying an additional 278 shares during the period. Institutional investors and hedge funds own 99.23% of the company’s stock.

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.