AMN Healthcare Services (NYSE:AMN) Shares Up 6.9% Following Strong Earnings

Shares of AMN Healthcare Services, Inc. (NYSE:AMN) shot up 6.9% during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $25.57 and last traded at $25.48. 164,030 shares were traded during trading, a decline of 79% from the average session volume of 782,323 shares. The stock had previously closed at $23.84.

The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. AMN Healthcare Services had a positive return on equity of 14.49% and a negative net margin of 4.93%. The firm had revenue of $734.71 million for the quarter, compared to analyst estimates of $694.38 million.

Analyst Upgrades and Downgrades

AMN has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price objective on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $34.00 price objective on shares of AMN Healthcare Services in a research note on Thursday, February 6th. BMO Capital Markets cut their price objective on AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Truist Financial cut their price objective on AMN Healthcare Services from $47.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday. Finally, William Blair lowered AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $43.33.

Institutional Investors Weigh In On AMN Healthcare Services

Hedge funds and other institutional investors have recently modified their holdings of the company. Truvestments Capital LLC bought a new stake in shares of AMN Healthcare Services during the third quarter valued at approximately $30,000. Farther Finance Advisors LLC increased 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 valued at $63,000 after acquiring an additional 1,224 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of AMN Healthcare Services by 33.4% during the fourth quarter. Jones Financial Companies Lllp now owns 1,505 shares of the company’s stock valued at $36,000 after acquiring an additional 377 shares in the last quarter. LRI Investments LLC increased its holdings in shares of AMN Healthcare Services by 368.2% during the fourth quarter. LRI Investments LLC now owns 1,620 shares of the company’s stock valued at $39,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of AMN Healthcare Services by 48.4% during 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 in the last quarter. Institutional investors own 99.23% of the company’s stock.

AMN Healthcare Services Stock Performance

The stock has a market cap of $1.05 billion, a P/E ratio of -7.14 and a beta of 0.07. The company has a fifty day moving average price of $25.40 and a 200 day moving average price of $35.15. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.18 and a quick ratio of 1.18.

AMN Healthcare Services Company Profile

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.