AMN Healthcare Services (NYSE:AMN) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Key Points

• Citizens JMP raised AMN Healthcare Services’ price target from $36 to $40 and maintained a “market outperform” rating, implying 16.14% upside from the stock’s current price.
• Analyst sentiment is mixed: four analysts rate the stock a Buy, three a Hold and two a Sell, resulting in an overall “Hold” consensus and an average price target of $31.43.
• AMN reported quarterly EPS of $0.77, well above the $0.19 consensus estimate, while revenue of $673.24 million exceeded expectations and increased 2.3% year over year.

AMN Healthcare Services (NYSE:AMN - Get Free Report) had its target price hoisted by research analysts at Citizens Jmp from $36.00 to $40.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "market outperform" rating on the stock. Citizens Jmp's target price indicates a potential upside of 16.14% from the stock's current price.

Several other equities research analysts have also recently weighed in on AMN. Truist Financial increased their price objective on AMN Healthcare Services from $26.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Zacks Research cut AMN Healthcare Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 20th. Robert W. Baird set a $36.00 target price on AMN Healthcare Services in a report on Friday, August 7th. Wall Street Zen raised AMN Healthcare Services from a "buy" rating to a "strong-buy" rating in a research note on Sunday, August 9th. Finally, UBS Group lifted their price target on shares of AMN Healthcare Services from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Four 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. According to data from MarketBeat, AMN Healthcare Services presently has an average rating of "Hold" and an average price target of $31.43.

AMN Healthcare Services Price Performance

Shares of AMN Healthcare Services stock opened at $34.44 on Friday. The company's fifty day simple moving average is $32.83 and its two-hundred day simple moving average is $25.54. AMN Healthcare Services has a 12-month low of $14.97 and a 12-month high of $37.22. The firm has a market cap of $1.33 billion, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.19 and a beta of 0.40. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 1.00.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last issued 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 firm had revenue of $673.24 million during the quarter, compared to the consensus estimate of $628.39 million. AMN Healthcare Services had a net margin of 3.06% and a return on equity of 19.92%. The company's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. As a group, equities analysts expect that AMN Healthcare Services will post 3.1 EPS for the current year.

Insider Buying and Selling at AMN Healthcare Services

In other 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 value of $114,368.67. Following the completion of the transaction, the director owned 17,917 shares of the company's stock, valued at approximately $556,681.19. This represents a 17.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.07% of the company's stock.

Institutional Investors Weigh In On AMN Healthcare Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in AMN Healthcare Services by 1.5% during the first quarter. Royal Bank of Canada now owns 194,366 shares of the company's stock valued at $4,753,000 after buying an additional 2,784 shares during the period. AQR Capital Management LLC grew its position in shares of AMN Healthcare Services by 54.2% in the 1st quarter. AQR Capital Management LLC now owns 98,026 shares of the company's stock worth $2,398,000 after buying an additional 34,465 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of AMN Healthcare Services in the 1st quarter worth about $283,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in AMN Healthcare Services by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,938 shares of the company's stock valued at $1,050,000 after acquiring an additional 1,153 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in AMN Healthcare Services by 13.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 429,908 shares of the company's stock valued at $10,516,000 after acquiring an additional 51,737 shares during the period. 99.23% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source