AMN Healthcare Services (NYSE:AMN) Rating Lowered to Buy at Wall Street Zen

Key Points

• Wall Street Zen downgraded AMN Healthcare Services from “strong buy” to “buy,” while the broader analyst consensus remains “hold” with a $31.43 average price target.
• AMN shares opened at $34.47, near their 12-month high of $37.22, and are up from their 50-day and 200-day moving averages.
• The company exceeded quarterly expectations, reporting $0.77 in EPS versus $0.19 expected and revenue of $673.24 million versus $628.39 million forecast; revenue increased 2.3% year over year.

AMN Healthcare Services (NYSE:AMN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Monday.

AMN has been the topic of several other reports. Robert W. Baird set a $36.00 price target on shares of AMN Healthcare Services in a research report on Friday, August 7th. Citizens Jmp boosted their price objective on shares of AMN Healthcare Services from $36.00 to $40.00 and gave the stock a "market outperform" rating in a research note on Friday. Citigroup reaffirmed an "outperform" rating on shares of AMN Healthcare Services in a report on Friday. Truist Financial raised their target price on shares of AMN Healthcare Services from $26.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded AMN Healthcare Services from a "sell (d-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $31.43.

AMN Healthcare Services Stock Down 0.1%

AMN Healthcare Services stock opened at $34.47 on Monday. The company has a 50 day moving average of $32.88 and a 200-day moving average of $25.64. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.00. AMN Healthcare Services has a twelve month low of $14.97 and a twelve month high of $37.22. The stock has a market capitalization of $1.33 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.27 and a beta of 0.40.

AMN Healthcare Services (NYSE:AMN - Get Free Report) 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 company had revenue of $673.24 million for the quarter, compared to analyst estimates of $628.39 million. AMN Healthcare Services had a return on equity of 19.92% and a net margin of 3.06%.The company's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. On average, equities research analysts anticipate that AMN Healthcare Services will post 3.1 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Mark G. Foletta sold 3,681 shares of the company's stock in a transaction dated 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 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 document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is currently owned by company insiders.

Institutional Trading of AMN Healthcare Services

Several large investors have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new position in AMN Healthcare Services in the 4th quarter valued at approximately $32,000. Versant Capital Management Inc grew its stake in shares of AMN Healthcare Services by 41.8% in the second quarter. Versant Capital Management Inc now owns 1,170 shares of the company's stock worth $38,000 after purchasing an additional 345 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of AMN Healthcare Services by 200.0% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 3,000 shares of the company's stock worth $47,000 after purchasing an additional 2,000 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in AMN Healthcare Services in the third quarter valued at $63,000. Finally, 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 purchasing an additional 1,020 shares during the period. 99.23% of the stock is owned by institutional investors and hedge funds.

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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