AMN Healthcare Services (NYSE:AMN) Shares Gap Down - Here's What Happened

Key Points

• AMN Healthcare Services' stock gapped down significantly, opening at $15.23 after a previous close of $16.92, with the last traded price at $16.52.
• Truist Financial and UBS Group reduced their target prices for AMN shares to $25.00 and $25.50, respectively, indicating a cautious outlook with a consensus rating of "Hold" across multiple analysts.
• The company reported a net margin of -5.80% and a year-over-year revenue decline of 11.1%, despite exceeding EPS estimates for the last quarter at $0.30.

AMN Healthcare Services Inc (NYSE:AMN - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $16.92, but opened at $15.23. AMN Healthcare Services shares last traded at $16.52, with a volume of 418,027 shares trading hands.

Analyst Ratings Changes

A number of research firms recently weighed in on AMN. Truist Financial decreased their target price on AMN Healthcare Services from $40.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. BMO Capital Markets set a $22.00 target price on AMN Healthcare Services and gave the stock an "outperform" rating in a research report on Monday. JMP Securities decreased their target price on AMN Healthcare Services from $33.00 to $22.00 and set a "market outperform" rating on the stock in a research report on Tuesday. Finally, UBS Group decreased their target price on AMN Healthcare Services from $30.00 to $25.50 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $28.25.

AMN Healthcare Services Price Performance

The company has a debt-to-equity ratio of 1.51, a quick ratio of 1.08 and a current ratio of 1.00. The company's 50 day moving average price is $20.38 and its 200 day moving average price is $22.03. The company has a market cap of $664.66 million, a price-to-earnings ratio of -2.22 and a beta of 0.10.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AMN. LPL Financial LLC raised its stake in shares of AMN Healthcare Services by 10.1% in the fourth quarter. LPL Financial LLC now owns 22,542 shares of the company's stock valued at $539,000 after acquiring an additional 2,075 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of AMN Healthcare Services by 42.9% in the fourth quarter. Franklin Resources Inc. now owns 27,854 shares of the company's stock valued at $666,000 after acquiring an additional 8,363 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of AMN Healthcare Services by 188.4% in the fourth quarter. Wells Fargo & Company MN now owns 301,390 shares of the company's stock valued at $7,209,000 after acquiring an additional 196,882 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of AMN Healthcare Services by 15.0% in the fourth quarter. Russell Investments Group Ltd. now owns 189,734 shares of the company's stock valued at $4,538,000 after acquiring an additional 24,736 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of AMN Healthcare Services by 92.4% in the fourth quarter. Invesco Ltd. now owns 388,564 shares of the company's stock valued at $9,294,000 after acquiring an additional 186,630 shares during the last quarter. Institutional investors own 99.23% of the company's stock.

About AMN Healthcare Services

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.