AMN Healthcare Services (NYSE:AMN) Receives Market Outperform Rating from Citizens Jmp

Key Points

• Citizens JMP reaffirmed AMN Healthcare Services at “market outperform” and kept a $36 price target, implying about 18% upside from the current share price.
• The company’s latest quarterly results beat expectations, with EPS of $2.10 versus the $1.60 estimate and revenue of $1.38 billion, nearly doubling year over year.
• AMN’s stock has drawn mixed Wall Street views, with an average analyst rating of Hold and an average price target of $27, even as several firms recently raised targets or upgraded the stock.

AMN Healthcare Services (NYSE:AMN - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities research analysts at Citizens Jmp in a research note issued on Tuesday,Benzinga reports. They currently have a $36.00 price target on the stock. Citizens Jmp's price target would suggest a potential upside of 18.43% from the stock's current price.

AMN has been the topic of a number of other research reports. Truist Financial increased their price objective on shares of AMN Healthcare Services from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of AMN Healthcare Services from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 16th. UBS Group upped their price target on shares of AMN Healthcare Services from $19.50 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, May 13th. BMO Capital Markets lifted their price objective on AMN Healthcare Services from $25.00 to $26.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Finally, Robert W. Baird upped their target price on AMN Healthcare Services from $23.00 to $26.00 and gave the stock a "neutral" rating in a research note on Monday, May 11th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $27.00.

AMN Healthcare Services Price Performance

Shares of NYSE AMN opened at $30.40 on Tuesday. The business's 50 day moving average price is $26.24 and its 200 day moving average price is $21.06. The firm has a market cap of $1.18 billion, a P/E ratio of -34.94, a P/E/G ratio of 0.71 and a beta of 0.44. AMN Healthcare Services has a 52 week low of $14.86 and a 52 week high of $33.13. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.04.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.50. AMN Healthcare Services had a negative net margin of 0.95% and a positive return on equity of 18.01%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.23 billion. During the same quarter in the prior year, the company earned $0.45 EPS. AMN Healthcare Services's quarterly revenue was up 99.9% on a year-over-year basis. On average, sell-side analysts expect that AMN Healthcare Services will post 2.7 earnings per share for the current year.

Insiders Place Their Bets

In other AMN Healthcare Services news, Director Mark G. Foletta sold 3,681 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $31.07, for a total transaction of $114,368.67. Following the transaction, the director owned 17,917 shares in the company, valued at approximately $556,681.19. This represents a 17.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.07% of the company's stock.

Institutional Trading of AMN Healthcare Services

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of AMN Healthcare Services by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,388,431 shares of the company's stock valued at $84,960,000 after buying an additional 16,315 shares in the last quarter. Millennium Management LLC increased its holdings in AMN Healthcare Services by 55.8% in the 4th quarter. Millennium Management LLC now owns 2,005,966 shares of the company's stock worth $31,614,000 after acquiring an additional 718,048 shares in the last quarter. State Street Corp raised its position in AMN Healthcare Services by 1.8% during the fourth quarter. State Street Corp now owns 1,624,935 shares of the company's stock worth $25,609,000 after acquiring an additional 28,479 shares during the period. Arrowstreet Capital Limited Partnership raised its position in AMN Healthcare Services by 1,278.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,401,725 shares of the company's stock worth $25,708,000 after acquiring an additional 1,300,005 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in AMN Healthcare Services by 50.7% during the first quarter. Renaissance Technologies LLC now owns 1,376,341 shares of the company's stock valued at $25,242,000 after purchasing an additional 463,100 shares in the last quarter. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

About AMN Healthcare Services

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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