BMO Capital Markets Forecasts Strong Price Appreciation for AMN Healthcare Services (NYSE:AMN) Stock

AMN Healthcare Services (NYSE:AMN) had its target price lifted by BMO Capital Markets from $38.00 to $40.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price objective would indicate a potential upside of 18.35% from the company’s current price.

AMN has been the subject of a number of other reports. Citizens Jmp raised their price objective on AMN Healthcare Services from $36.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Friday, August 14th. Weiss Ratings raised shares of AMN Healthcare Services from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Wall Street Zen downgraded AMN Healthcare Services from a “buy” rating to a “hold” rating in a research report on Tuesday, August 25th. UBS Group increased their price target on shares of AMN Healthcare Services from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Finally, Zacks Research downgraded AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $36.00.

AMN Healthcare Services Stock Up 2.3%

AMN Healthcare Services stock opened at $33.80 on Friday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.13 and a current ratio of 1.13. AMN Healthcare Services has a one year low of $14.97 and a one year high of $37.22. The company has a 50-day simple moving average of $33.83 and a 200-day simple moving average of $27.63. The firm has a market capitalization of $1.31 billion, a P/E ratio of 12.60, a P/E/G ratio of 1.18 and a beta of 0.38.

AMN Healthcare Services (NYSE:AMN) last released its earnings results on Thursday, August 6th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.58. AMN Healthcare Services had a net margin of 3.06% and a return on equity of 19.92%. The business had revenue of $673.24 million for the quarter, compared to the consensus estimate of $628.39 million. During the same period in the previous year, the firm earned $0.30 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts expect that AMN Healthcare Services will post 3.32 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 company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $31.07, for a total transaction of $114,368.67. Following the completion of the transaction, the director directly owned 17,917 shares of the company’s stock, valued at $556,681.19. This represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of AMN Healthcare Services during the 2nd quarter worth approximately $215,047,000. Millennium Management LLC raised its stake in AMN Healthcare Services by 55.8% in the 4th 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 in the last quarter. State Street Corp boosted 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 valued at $25,609,000 after buying an additional 28,479 shares during the period. California State Teachers Retirement System lifted its position in shares of AMN Healthcare Services by 3,085.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,421,949 shares of the company’s stock valued at $43,928,000 after acquiring an additional 1,377,311 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in AMN Healthcare Services by 1,278.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,401,725 shares of the company’s stock worth $25,708,000 after buying an additional 1,300,005 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 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.