AMN Healthcare Services (NYSE:AMN) Shares Gap Down - What's Next?

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) gapped down before the market opened 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.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMN. UBS Group decreased their price target 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 target price on AMN Healthcare Services from $40.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $32.08.

AMN Healthcare Services Price Performance

The business's 50-day moving average price is $20.45 and its 200 day moving average price is $22.11. The company has a quick ratio of 1.08, a current ratio of 1.00 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $646.98 million, a P/E ratio of -2.17 and a beta of 0.10.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates 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 business had revenue of $658.18 million for the quarter, compared to analyst estimates of $652.89 million. During the same period last year, the business earned $0.98 EPS. The company's revenue was down 11.1% on a year-over-year basis. Analysts anticipate that AMN Healthcare Services Inc will post 1.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMN. Newtyn Management LLC boosted its holdings in AMN Healthcare Services by 1.0% during the 1st quarter. Newtyn Management LLC now owns 1,200,000 shares of the company's stock valued at $29,352,000 after acquiring an additional 11,984 shares during the period. Millennium Management LLC raised its position in AMN Healthcare Services by 137.5% during the first quarter. Millennium Management LLC now owns 1,097,482 shares of the company's stock valued at $26,844,000 after buying an additional 635,296 shares during the period. Geode Capital Management LLC raised its position in shares of AMN Healthcare Services by 3.4% during the second quarter. Geode Capital Management LLC now owns 909,204 shares of the company's stock valued at $18,795,000 after buying an additional 30,155 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in AMN Healthcare Services by 1.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 904,275 shares of the company's stock worth $22,119,000 after buying an additional 17,064 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its position in AMN Healthcare Services by 44.4% in the 1st quarter. Reinhart Partners LLC. now owns 744,943 shares of the company's stock valued at $18,221,000 after acquiring an additional 229,002 shares in the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.

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.