Wall Street Zen Downgrades AMN Healthcare Services (NYSE:AMN) to Hold

AMN Healthcare Services (NYSE:AMN) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Several other equities analysts have also commented on the stock. Robert W. Baird set a $36.00 target price on shares of AMN Healthcare Services in a report on Friday, August 7th. BMO Capital Markets boosted their price target 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. Weiss Ratings upgraded shares of AMN Healthcare Services from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Citizens Jmp raised their price objective on AMN Healthcare Services from $36.00 to $40.00 and gave the company a “market outperform” rating in a research note on Friday, August 14th. Finally, UBS Group raised their price objective on AMN Healthcare Services from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, AMN Healthcare Services currently has an average rating of “Hold” and an average price target of $31.43.

AMN Healthcare Services Stock Performance

NYSE:AMN opened at $34.21 on Tuesday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 1.25 and a beta of 0.40. The business has a 50 day moving average of $33.45 and a 200 day moving average of $26.41. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 1.13. AMN Healthcare Services has a 1-year low of $14.97 and a 1-year high of $37.22.

AMN Healthcare Services (NYSE:AMN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.58. The business had revenue of $673.24 million for the quarter, compared to analysts’ expectations of $628.39 million. AMN Healthcare Services had a net margin of 3.06% and a return on equity of 19.92%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the business earned $0.30 earnings per share. On average, sell-side analysts predict that AMN Healthcare Services will post 3.1 earnings per share for the current fiscal year.

Insider Activity at AMN Healthcare Services

In related news, Director Mark G. Foletta sold 3,681 shares of the company’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $31.07, for a total transaction of $114,368.67. Following the completion of the sale, the director directly owned 17,917 shares in the company, valued at $556,681.19. This represents a 17.04% decrease in their position. The transaction was disclosed in a 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 insiders.

Institutional Investors Weigh In On AMN Healthcare Services

A number of large investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in shares of AMN Healthcare Services during the second quarter valued at about $215,047,000. Millennium Management LLC grew its stake in shares of AMN Healthcare Services by 55.8% in the fourth quarter. Millennium Management LLC now owns 2,005,966 shares of the company’s stock worth $31,614,000 after purchasing an additional 718,048 shares during the last quarter. State Street Corp grew its stake in shares of AMN Healthcare Services by 1.8% in the fourth quarter. State Street Corp now owns 1,624,935 shares of the company’s stock worth $25,609,000 after purchasing an additional 28,479 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of AMN Healthcare Services by 3,085.5% in the second quarter. California State Teachers Retirement System now owns 1,421,949 shares of the company’s stock worth $43,928,000 after purchasing an additional 1,377,311 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in AMN Healthcare Services by 1,278.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,401,725 shares of the company’s stock valued at $25,708,000 after purchasing an additional 1,300,005 shares during the period. Institutional investors own 99.23% of the company’s stock.

AMN Healthcare Services Company Profile

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.