AMN Healthcare Services (NYSE:AMN) Hits New 1-Year High - Here's What Happened

Key Points

• AMN Healthcare Services hit a new 52-week high, trading as high as $29 after closing at $22.45 the prior session, reflecting a sharp recent move in the stock.
• The company’s latest quarterly results beat expectations, with EPS of $2.10 versus $1.60 expected and revenue of $1.38 billion versus $1.23 billion expected, helped by stronger labor-disruption demand and staffing gains.
• Analyst sentiment has turned more positive, with recent upgrades and higher price targets, though the broader consensus remains Hold with an average target price of $22.93.

AMN Healthcare Services Inc (NYSE:AMN - Get Free Report)'s stock price hit a new 52-week high during trading on Saturday . The company traded as high as $29.00 and last traded at $28.8520, with a volume of 3819331 shares trading hands. The stock had previously closed at $22.45.

AMN Healthcare Services News Summary

Here are the key news stories impacting AMN Healthcare Services this week:

• Positive Sentiment: AMN Healthcare reported first-quarter earnings and revenue that beat estimates, with adjusted EPS surging and revenue nearly doubling from a year ago. Article Title
• Positive Sentiment: The company said Q1 results were helped by stronger labor-disruption demand and staffing gains, suggesting improved operating trends. Article Title
• Positive Sentiment: AMN was added to Zacks’ Strong Buy and Rank #1 value stock lists, which may reinforce bullish investor interest. Article Title
• Neutral Sentiment: AMN updated second-quarter revenue guidance to $620 million-$635 million, which is broadly near analyst expectations and does not appear to be a major surprise. Article Title

Wall Street Analyst Weigh In

AMN has been the subject of several analyst reports. 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 research note on Friday. Zacks Research upgraded AMN Healthcare Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 21st. Citigroup restated an "outperform" rating on shares of AMN Healthcare Services in a research note on Monday, February 23rd. Robert W. Baird upped their price target on AMN Healthcare Services from $21.00 to $23.00 and gave the stock a "neutral" rating in a research note on Friday, February 20th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of AMN Healthcare Services in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, AMN Healthcare Services currently has an average rating of "Hold" and a consensus target price of $22.93.

AMN Healthcare Services Price Performance

The company has a 50-day simple moving average of $19.67 and a 200-day simple moving average of $18.49. The stock has a market cap of $1.11 billion, a PE ratio of -33.16, a PEG ratio of 0.93 and a beta of 0.30. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.94 and a quick ratio of 0.94.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $2.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.50. The firm had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.23 billion. AMN Healthcare Services had a positive return on equity of 18.59% and a negative net margin of 0.95%.AMN Healthcare Services's revenue was up 99.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 earnings per share. Sell-side analysts anticipate that AMN Healthcare Services Inc will post 1.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Covestor Ltd increased its holdings in AMN Healthcare Services by 13.9% in the third quarter. Covestor Ltd now owns 4,747 shares of the company's stock valued at $92,000 after buying an additional 579 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in AMN Healthcare Services by 2.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,938 shares of the company's stock valued at $1,050,000 after buying an additional 1,153 shares in the last quarter. Strengthening Families & Communities LLC increased its position in shares of AMN Healthcare Services by 238.5% in the third quarter. Strengthening Families & Communities LLC now owns 1,713 shares of the company's stock valued at $33,000 after buying an additional 1,207 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of AMN Healthcare Services by 3.5% in the third quarter. Intech Investment Management LLC now owns 40,335 shares of the company's stock valued at $781,000 after buying an additional 1,355 shares in the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.

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.

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