AMN Healthcare Services (NYSE:AMN) Shares Up 6.3% – Here’s What Happened

AMN Healthcare Services, Inc. (NYSE:AMN) shares were up 6.3% on Monday . The stock traded as high as $39.42 and last traded at $39.22. Approximately 139,606 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 791,873 shares. The stock had previously closed at $36.90.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AMN shares. Truist Financial reduced their target price on AMN Healthcare Services from $70.00 to $50.00 and set a “buy” rating for the company in a report on Monday, October 21st. BMO Capital Markets boosted their target price on AMN Healthcare Services from $60.00 to $71.00 and gave the stock an “outperform” rating in a report on Monday, August 12th. Benchmark restated a “hold” rating on shares of AMN Healthcare Services in a report on Wednesday, October 2nd. Bank of America lowered AMN Healthcare Services from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $65.00 to $48.00 in a report on Monday, October 7th. Finally, UBS Group reduced their target price on AMN Healthcare Services from $66.00 to $65.00 and set a “neutral” rating for the company in a report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $58.20.

AMN Healthcare Services Trading Up 2.8 %

The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 15.14 and a beta of 0.13. The business has a fifty day moving average price of $43.63 and a 200 day moving average price of $51.63. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.23 and a quick ratio of 1.23.

AMN Healthcare Services (NYSE:AMN) last issued its earnings results on Thursday, August 8th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.22. The business had revenue of $740.69 million during the quarter, compared to analyst estimates 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 period in the prior year, the company posted $2.38 earnings per share. On average, equities analysts expect that AMN Healthcare Services, Inc. will post 3.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Pacer Advisors Inc. bought a new stake in AMN Healthcare Services in the second quarter valued at $99,349,000. Thrivent Financial for Lutherans grew its position in AMN Healthcare Services by 3,753.6% in the second quarter. Thrivent Financial for Lutherans now owns 1,263,326 shares of the company’s stock valued at $64,721,000 after acquiring an additional 1,230,543 shares during the period. Swedbank AB bought a new stake in AMN Healthcare Services in the first quarter valued at $70,617,000. Vaughan Nelson Investment Management L.P. bought a new stake in AMN Healthcare Services in the second quarter valued at $45,481,000. Finally, American Century Companies Inc. grew its position in AMN Healthcare Services by 95.3% in the second quarter. American Century Companies Inc. now owns 775,139 shares of the company’s stock valued at $39,710,000 after acquiring an additional 378,266 shares during the period. 99.23% of the stock is currently owned by institutional investors and hedge funds.

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.