AMN Healthcare Services (NYSE:AMN) Trading Up 7.3% – Here’s What Happened

AMN Healthcare Services Inc (NYSE:AMN) was up 7.3% during mid-day trading on Monday . The company traded as high as $34.76 and last traded at $34.72. Approximately 135,936 shares were traded during trading, a decline of 89% from the average session volume of 1,189,363 shares. The stock had previously closed at $32.37.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Robert W. Baird lifted their price objective on shares of AMN Healthcare Services from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Monday, May 11th. BMO Capital Markets increased their target price on shares of AMN Healthcare Services from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Zacks Research cut AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. Truist Financial upped their price target on AMN Healthcare Services from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Citigroup reiterated a “market outperform” rating on shares of AMN Healthcare Services in a research report on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, AMN Healthcare Services has a consensus rating of “Hold” and an average target price of $27.00.

AMN Healthcare Services Stock Down 4.5%

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.09 and a quick ratio of 1.09. The business’s 50 day moving average price is $30.34 and its 200 day moving average price is $22.95. The firm has a market cap of $1.26 billion, a PE ratio of -37.30, a PEG ratio of 0.78 and a beta of 0.41.

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

Insider Buying and Selling at AMN Healthcare Services

In other news, Director Mark G. Foletta sold 3,681 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $31.07, for a total value of $114,368.67. Following the transaction, the director owned 17,917 shares in the company, valued at $556,681.19. This trade represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is currently owned by company insiders.

Institutional Trading of AMN Healthcare Services

Several large investors have recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in AMN Healthcare Services in the 4th quarter valued at $32,000. Versant Capital Management Inc boosted its stake in AMN Healthcare Services by 41.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,170 shares of the company’s stock worth $38,000 after purchasing an additional 345 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of AMN Healthcare Services by 200.0% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,000 shares of the company’s stock worth $47,000 after buying an additional 2,000 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of AMN Healthcare Services during the third quarter worth $63,000. Finally, Tower Research Capital LLC TRC raised its position in shares of AMN Healthcare Services by 49.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company’s stock valued at $64,000 after buying an additional 1,020 shares during the last quarter. 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.