AMN Healthcare Services (NYSE:AMN) Hits New 12-Month Low - Here's What Happened

Key Points

• AMN Healthcare Services' stock reached a new 52-week low, trading as low as $16.89, and last priced at $17.22, down 1.6% from its previous close.
• Analysts have reduced their price targets for AMN, with Truist Financial lowering theirs from $40.00 to $25.00, while UBS dropped theirs from $30.00 to $25.50, maintaining mixed ratings.
• Despite reporting an EPS of $0.45 for the last quarter, beating estimates, AMN's revenue was down 16.0% year-over-year, raising concerns about its financial performance.

AMN Healthcare Services Inc (NYSE:AMN - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $16.89 and last traded at $17.22, with a volume of 1319164 shares changing hands. The stock had previously closed at $17.49.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMN shares. UBS Group dropped their price target on AMN Healthcare Services from $30.00 to $25.50 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Truist Financial reduced their target price 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. Finally, BMO Capital Markets lowered their price target on shares of AMN Healthcare Services from $27.00 to $22.00 and set an "outperform" rating on the stock in a research note on Monday. 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. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $30.25.

AMN Healthcare Services Trading Down 4.3%

The company has a 50-day moving average price of $20.45 and a 200 day moving average price of $22.11. The company has a current ratio of 1.00, a quick ratio of 1.08 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $631.63 million, a P/E ratio of -2.12 and a beta of 0.10.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.13. The business had revenue of $658.18 million during the quarter, compared to analysts' expectations of $652.89 million. AMN Healthcare Services had a positive return on equity of 11.09% and a negative net margin of 10.75%. The business's revenue was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.98 earnings per share. On average, research analysts forecast that AMN Healthcare Services Inc will post 1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMN Healthcare Services

Several hedge funds have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC grew its position in AMN Healthcare Services by 107.0% in the first quarter. Golden State Wealth Management LLC now owns 1,159 shares of the company's stock valued at $28,000 after acquiring an additional 599 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in shares of AMN Healthcare Services by 3,142.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,524 shares of the company's stock valued at $37,000 after acquiring an additional 1,477 shares during the period. LRI Investments LLC boosted its position in shares of AMN Healthcare Services by 368.2% during the 4th quarter. LRI Investments LLC now owns 1,620 shares of the company's stock valued at $39,000 after purchasing an additional 1,274 shares in the last quarter. Caption Management LLC lifted its stake in AMN Healthcare Services by 400.0% during the first quarter. Caption Management LLC now owns 2,500 shares of the company's stock valued at $61,000 after buying an additional 2,000 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of AMN Healthcare Services by 41.0% in the 4th quarter. Covestor Ltd now owns 2,914 shares of the company's stock valued at $70,000 after purchasing an additional 848 shares during the period. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

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.