AMN Healthcare Services (NYSE:AMN) Stock Price Down 6.6% - Here's Why

Key Points

• AMN Healthcare shares fell 6.6% to about $34.20 in light trading, despite remaining above their 50-day and 200-day moving averages.
• The company recently delivered strong quarterly results, reporting $0.77 in EPS versus $0.19 expected and revenue of $673.24 million, up 2.3% year over year.
• Analyst sentiment is mixed: four analysts rate the stock Buy, three Hold, and two Sell, producing an overall “Hold” rating and a consensus price target of $30.86.

AMN Healthcare Services Inc (NYSE:AMN - Get Free Report)'s share price was down 6.6% during trading on Tuesday . The company traded as low as $34.35 and last traded at $34.1950. 85,493 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 1,134,370 shares. The stock had previously closed at $36.60.

Wall Street Analyst Weigh In

AMN has been the subject of several research reports. Citigroup reissued a "market outperform" rating on shares of AMN Healthcare Services in a research note on Tuesday, June 23rd. Zacks Research cut shares of AMN Healthcare Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 20th. Weiss Ratings raised shares of AMN Healthcare Services from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 17th. UBS Group increased their target price on shares of AMN Healthcare Services from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Citizens Jmp reissued a "market outperform" rating and set a $36.00 price target on shares of AMN Healthcare Services in a research report on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $30.86.

AMN Healthcare Services Price Performance

The company's 50-day moving average price is $32.65 and its 200-day moving average price is $25.25. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 1.09. The company has a market cap of $1.31 billion, a P/E ratio of 12.67, a P/E/G ratio of 0.83 and a beta of 0.40.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.19 by $0.58. The business had revenue of $673.24 million for the quarter, compared to analysts' expectations of $628.39 million. AMN Healthcare Services had a net margin of 3.06% and a return on equity of 19.92%. The firm's revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 EPS. As a group, sell-side analysts predict that AMN Healthcare Services Inc will post 2.7 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mark G. Foletta sold 3,681 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $31.07, for a total transaction of $114,368.67. Following the completion of the transaction, the director directly owned 17,917 shares in the company, valued at approximately $556,681.19. This trade represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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.

Hedge Funds Weigh In On AMN Healthcare Services

Several hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc lifted its position in shares of AMN Healthcare Services by 41.8% in the second quarter. Versant Capital Management Inc now owns 1,170 shares of the company's stock worth $38,000 after purchasing an additional 345 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of AMN Healthcare Services by 49.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company's stock valued at $64,000 after acquiring an additional 1,020 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in AMN Healthcare Services by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,938 shares of the company's stock worth $1,050,000 after acquiring an additional 1,153 shares in the last quarter. Swiss National Bank raised its holdings in AMN Healthcare Services by 1.9% during the fourth quarter. Swiss National Bank now owns 75,600 shares of the company's stock worth $1,191,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Creative Planning boosted its position in AMN Healthcare Services by 11.0% during the third quarter. Creative Planning now owns 14,664 shares of the company's stock valued at $284,000 after purchasing an additional 1,451 shares during the last quarter. 99.23% of the stock is owned by 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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