AMN Healthcare Services (NYSE:AMN) Hits New 12-Month High – Here’s What Happened

Shares of AMN Healthcare Services Inc (NYSE:AMN) hit a new 52-week high on Wednesday . The company traded as high as $32.70 and last traded at $32.25, with a volume of 253619 shares trading hands. The stock had previously closed at $31.88.

Analysts Set New Price Targets

A number of brokerages have weighed in on AMN. Wall Street Zen upgraded AMN Healthcare Services from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. BMO Capital Markets raised their price objective on AMN Healthcare Services from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Monday, May 11th. UBS Group raised their price objective on AMN Healthcare Services from $19.50 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Weiss Ratings restated a “sell (e+)” rating on shares of AMN Healthcare Services in a report on Friday, May 22nd. Finally, Zacks Research lowered AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, AMN Healthcare Services has an average rating of “Hold” and a consensus target price of $25.29.

AMN Healthcare Services Stock Performance

The firm has a market cap of $1.27 billion, a PE ratio of -37.37, a price-to-earnings-growth ratio of 0.71 and a beta of 0.44. The firm has a fifty day moving average price of $25.24 and a 200 day moving average price of $20.66. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.04.

AMN Healthcare Services (NYSE:AMN) last issued its quarterly earnings data on Thursday, May 7th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.50. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.23 billion. AMN Healthcare Services had a negative net margin of 0.95% and a positive return on equity of 18.01%. AMN Healthcare Services’s revenue was up 99.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. As a group, equities research analysts expect that AMN Healthcare Services Inc will post 2.7 earnings per share for the current fiscal year.

Insider Transactions at AMN Healthcare Services

In related news, Director Mark G. Foletta sold 3,681 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $31.07, for a total value of $114,368.67. Following the sale, the director directly owned 17,917 shares in the company, valued at approximately $556,681.19. The trade was a 17.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.07% of the company’s stock.

Institutional Trading of AMN Healthcare Services

Institutional investors and hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new position in shares of AMN Healthcare Services during the fourth quarter worth about $32,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of AMN Healthcare Services by 200.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,000 shares of the company’s stock valued at $47,000 after acquiring an additional 2,000 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of AMN Healthcare Services by 49.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company’s stock worth $64,000 after purchasing an additional 1,020 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of AMN Healthcare Services during the third quarter worth approximately $63,000. Finally, Strs Ohio purchased a new stake in shares of AMN Healthcare Services during the first quarter worth approximately $95,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

About AMN Healthcare Services

AMN Healthcare Services, Inc (NYSE: AMN) is a leading provider of healthcare workforce solutions in the United States. The company specializes in staffing and recruitment services for a broad range of clinical and allied health professionals, including travel nurses, permanent placement of nursing staff, locum tenens physicians, and allied health personnel. In addition to direct staffing, AMN Healthcare offers comprehensive workforce management solutions such as vendor management systems (VMS), recruitment process outsourcing (RPO), and compliance and credentialing services through its technology platforms.

Founded in 1985 as American Mobile Nurses, the company rebranded to AMN Healthcare in 2010 to reflect its expanding portfolio of services.