AMN Healthcare Services (NYSE:AMN) Reaches New 1-Year High – Here’s Why

AMN Healthcare Services Inc (NYSE:AMN)’s share price hit a new 52-week high during trading on Thursday. The company traded as high as $39.73 and last traded at $38.9940, with a volume of 113,113 shares traded. The stock had previously closed at $37.66.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Robert W. Baird set a $36.00 price objective on AMN Healthcare Services in a research note on Friday, August 7th. Citigroup reaffirmed an “outperform” rating on shares of AMN Healthcare Services in a research report on Friday, August 14th. Weiss Ratings upgraded AMN Healthcare Services from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, September 18th. UBS Group boosted their price target on shares of AMN Healthcare Services from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Finally, BMO Capital Markets increased their price target on shares of AMN Healthcare Services from $40.00 to $43.00 and gave the company an “outperform” rating in a research report on Friday, October 9th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.50.

AMN Healthcare Services Trading Up 1.3%

The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a fifty day simple moving average of $34.94 and a two-hundred day simple moving average of $30.48. The firm has a market capitalization of $1.57 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 1.37 and a beta of 0.40.

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. AMN Healthcare Services had a return on equity of 19.92% and a net margin of 3.06%. The firm had revenue of $673.24 million for the quarter, compared to analysts’ expectations of $628.39 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts anticipate that AMN Healthcare Services Inc will post 3.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMN Healthcare Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Argent Capital Management LLC purchased a new position in shares of AMN Healthcare Services in the third quarter worth about $690,000. Tidal Investments LLC bought a new stake in shares of AMN Healthcare Services in the second quarter valued at approximately $2,301,000. Integrated Wealth Concepts LLC purchased a new stake in shares of AMN Healthcare Services during the 2nd quarter valued at approximately $49,000. IFP Advisors Inc lifted its stake in shares of AMN Healthcare Services by 849.6% during the 2nd quarter. IFP Advisors Inc now owns 1,282 shares of the company’s stock valued at $41,000 after buying an additional 1,147 shares in the last quarter. Finally, Allworth Financial LP lifted its stake in shares of AMN Healthcare Services by 298.2% during the 2nd quarter. Allworth Financial LP now owns 1,995 shares of the company’s stock valued at $65,000 after buying an additional 1,494 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

About AMN Healthcare Services

AMN Healthcare Services, Inc (NYSE: AMN) is a healthcare workforce solutions company that helps hospitals, health systems and other healthcare organizations recruit, deploy and manage clinical and nonclinical personnel. The company serves healthcare providers primarily in the United States.

Its services include temporary and permanent placement of nurses and allied healthcare professionals, locum tenens staffing for physicians and advanced practice providers, and recruitment and workforce consulting.