AMN Healthcare Services (NYSE:AMN) Hits New 12-Month Low - Should You Sell?

Key Points

• AMN Healthcare Services' stock reached a new 52-week low, trading at $17.36, and is currently priced at $17.71, marking a decline from its previous close of $18.34.
• Analysts have significantly lowered their price targets for AMN Healthcare, with UBS reducing it to $25.50 and Truist to $25.00, while the stock currently holds a consensus rating of "Hold."
• The company reported a revenue decline of 16% year-over-year, coming in at $689.53 million for the quarter, despite exceeding earnings per share expectations with $0.45 reported against a $0.19 estimate.

AMN Healthcare Services Inc (NYSE:AMN - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $17.36 and last traded at $17.71, with a volume of 277374 shares changing hands. The stock had previously closed at $18.34.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on AMN shares. UBS Group cut their target price on shares of AMN Healthcare Services from $30.00 to $25.50 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Truist Financial dropped their price objective on shares of AMN Healthcare Services from $40.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, AMN Healthcare Services has an average rating of "Hold" and a consensus price target of $32.08.

AMN Healthcare Services Stock Down 2.8%

The stock has a market capitalization of $682.15 million, a P/E ratio of -4.12 and a beta of 0.10. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.08 and a quick ratio of 1.08. The stock's fifty day moving average is $20.84 and its two-hundred day moving average is $22.47.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.26. AMN Healthcare Services had a negative net margin of 5.80% and a positive return on equity of 13.39%. The firm had revenue of $689.53 million during the quarter, compared to analyst estimates of $670.08 million. During the same quarter last year, the business posted $0.97 EPS. The company's revenue was down 16.0% on a year-over-year basis. As a group, research analysts predict that AMN Healthcare Services Inc will post 1.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMN Healthcare Services

Several institutional investors and hedge funds have recently modified their holdings of AMN. Golden State Wealth Management LLC raised its holdings in AMN Healthcare Services by 107.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,159 shares of the company's stock worth $28,000 after acquiring an additional 599 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in AMN Healthcare Services by 3,142.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,524 shares of the company's stock worth $37,000 after acquiring an additional 1,477 shares during the period. LRI Investments LLC raised its holdings in AMN Healthcare Services by 368.2% in the 4th quarter. LRI Investments LLC now owns 1,620 shares of the company's stock worth $39,000 after acquiring an additional 1,274 shares during the period. Caption Management LLC raised its holdings in AMN Healthcare Services by 400.0% in the 1st quarter. Caption Management LLC now owns 2,500 shares of the company's stock worth $61,000 after acquiring an additional 2,000 shares during the period. Finally, Covestor Ltd raised its holdings in AMN Healthcare Services by 41.0% in the 4th quarter. Covestor Ltd now owns 2,914 shares of the company's stock worth $70,000 after acquiring an additional 848 shares during the period. Institutional investors and hedge funds own 99.23% of the company's stock.

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.