AMN Healthcare Services (NYSE:AMN) Shares Down 6% – Here’s Why

Shares of AMN Healthcare Services, Inc. (NYSE:AMN) fell 6% during mid-day trading on Tuesday . The company traded as low as $25.86 and last traded at $25.94. 163,857 shares changed hands during trading, a decline of 74% from the average session volume of 623,014 shares. The stock had previously closed at $27.61.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AMN. BMO Capital Markets cut their target price on AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Jefferies Financial Group cut their target price on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. JMP Securities cut their target price on AMN Healthcare Services from $66.00 to $57.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 22nd. Truist Financial cut their target price on AMN Healthcare Services from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Friday, November 8th. Finally, Benchmark reissued a “hold” rating on shares of AMN Healthcare Services in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.33.

AMN Healthcare Services Stock Down 9.5 %

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 has a 50 day moving average of $26.55 and a two-hundred day moving average of $41.03. The stock has a market capitalization of $951.47 million, a PE ratio of 18.11 and a beta of 0.05.

AMN Healthcare Services (NYSE:AMN) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. The company had revenue of $687.51 million during the quarter, compared to the consensus estimate of $670.08 million. AMN Healthcare Services had a return on equity of 17.16% and a net margin of 1.73%. During the same quarter last year, the business posted $1.97 earnings per share. Equities research analysts anticipate that AMN Healthcare Services, Inc. will post 3.07 earnings per share for the current year.

Insiders Place Their Bets

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 sale, the chief financial officer now owns 37,550 shares in the company, valued at $1,385,595. This trade represents a 6.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.93% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AMN Healthcare Services

Hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC acquired a new stake in shares of AMN Healthcare Services during the third quarter worth $30,000. Farther Finance Advisors LLC boosted its holdings in shares of AMN Healthcare Services by 455.0% during the third quarter. Farther Finance Advisors LLC now owns 1,493 shares of the company’s stock worth $63,000 after purchasing an additional 1,224 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of AMN Healthcare Services by 189.6% during the fourth quarter. GAMMA Investing LLC now owns 3,018 shares of the company’s stock worth $72,000 after purchasing an additional 1,976 shares during the last quarter. Quarry LP boosted its holdings in AMN Healthcare Services by 48.4% in the third quarter. Quarry LP now owns 2,006 shares of the company’s stock valued at $85,000 after acquiring an additional 654 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in AMN Healthcare Services in the third quarter valued at $151,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

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.