AMN Healthcare Services (NYSE:AMN) Reaches New 52-Week 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)'s share price reached a new 52-week low on Thursday . The stock traded as low as $16.89 and last traded at $17.22, with a volume of 1319164 shares trading hands. The stock had previously closed at $17.49.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Truist Financial dropped their price target on 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. 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 research note on Tuesday, May 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $32.08.

AMN Healthcare Services Stock Down 1.6%

The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 1.39. The stock has a market cap of $659.07 million, a PE ratio of -3.98 and a beta of 0.10. The business has a 50 day moving average price of $20.61 and a 200 day moving average price of $22.31.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last issued its earnings results 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 positive return on equity of 13.39% and a negative net margin of 5.80%. The firm had revenue of $689.53 million for the quarter, compared to the consensus estimate of $670.08 million. During the same quarter in the prior year, the business earned $0.97 earnings per share. The company's revenue was down 16.0% compared to the same quarter last year. Equities research analysts expect that AMN Healthcare Services Inc will post 1.33 EPS for the current fiscal year.

Institutional Trading of AMN Healthcare Services

A number of 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 purchasing 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 purchasing 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 purchasing 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 purchasing 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 purchasing an additional 848 shares during the period. Hedge funds and other institutional investors 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.

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