AMN Healthcare Services (NYSE:AMN) Trading Up 10% - Time to Buy?

Key Points

• AMN Healthcare Services shares surged 10% to $18.14, despite a 33% decline in trading volume compared to its average session.
• Equity analysts have recently revised their target prices significantly downward, with ratings ranging from "buy" to "hold", reflecting a consensus rating of "Hold" and an average target price of $28.25.
• The company reported EPS of $0.30 in its last earnings release, surpassing expectations, but revenue decreased 11.1% year-over-year to $658.18 million.

AMN Healthcare Services Inc (NYSE:AMN - Get Free Report) shares traded up 10% during trading on Tuesday . The company traded as high as $18.00 and last traded at $18.14. 584,815 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 871,353 shares. The stock had previously closed at $16.49.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. 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 research report on Tuesday, April 15th. JMP Securities dropped their target price on AMN Healthcare Services from $33.00 to $22.00 and set a "market outperform" rating for the company in a research report on Tuesday. UBS Group dropped their target price on AMN Healthcare Services from $30.00 to $25.50 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, BMO Capital Markets set a $22.00 target price on AMN Healthcare Services and gave the company an "outperform" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, AMN Healthcare Services currently has a consensus rating of "Hold" and an average target price of $28.25.

AMN Healthcare Services Stock Performance

The company has a 50-day moving average of $20.38 and a 200-day moving average of $22.03. The company has a current ratio of 1.00, a quick ratio of 1.08 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $678.90 million, a P/E ratio of -2.28 and a beta of 0.10.

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

Institutional Investors Weigh In On AMN Healthcare Services

Large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC increased its position in AMN Healthcare Services by 34.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,145 shares of the company's stock valued at $370,000 after buying an additional 3,880 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in AMN Healthcare Services in the 1st quarter valued at about $592,000. Golden State Wealth Management LLC increased its position in AMN Healthcare Services by 107.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,159 shares of the company's stock valued at $28,000 after buying an additional 599 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in AMN Healthcare Services during the 1st quarter worth approximately $1,581,000. Finally, GAMMA Investing LLC increased its holdings in AMN Healthcare Services by 74.9% during the 1st quarter. GAMMA Investing LLC now owns 5,278 shares of the company's stock worth $129,000 after purchasing an additional 2,260 shares in the last quarter. Institutional investors and hedge funds 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.

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