Wall Street Zen Downgrades AMN Healthcare Services (NYSE:AMN) to Hold

Key Points

• Wall Street Zen downgraded AMN Healthcare Services from “buy” to “hold.” The broader analyst consensus is also “Hold,” with four Buy, three Hold, and two Sell ratings and an average price target of $31.43.
• AMN reported stronger-than-expected quarterly results, earning $0.77 per share versus the $0.19 consensus estimate and generating $673.24 million in revenue. Revenue increased 2.3% year over year.
• Shares opened at $34.50, near the company’s 52-week high of $37.22, while institutional investors own a substantial 99.23% stake. Director Mark G. Foletta separately sold 3,681 shares under a pre-arranged trading plan.

AMN Healthcare Services (NYSE:AMN - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Tuesday.

A number of other research firms have also commented on AMN. BMO Capital Markets lifted their target price on AMN Healthcare Services from $25.00 to $26.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Weiss Ratings raised AMN Healthcare Services from a "sell (d-)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Citizens Jmp lifted their price objective on AMN Healthcare Services from $36.00 to $40.00 and gave the stock a "market outperform" rating in a report on Friday, August 14th. UBS Group upped their target price on shares of AMN Healthcare Services from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Finally, Zacks Research downgraded shares of AMN Healthcare Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 20th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $31.43.

AMN Healthcare Services Stock Up 0.1%

Shares of NYSE:AMN opened at $34.50 on Tuesday. The firm has a market capitalization of $1.34 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.27 and a beta of 0.40. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.13 and a current ratio of 1.13. AMN Healthcare Services has a 52-week low of $14.97 and a 52-week high of $37.22. The firm has a fifty day moving average of $33.38 and a 200 day moving average of $26.22.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.58. The company had revenue of $673.24 million during the quarter, compared to analysts' expectations of $628.39 million. AMN Healthcare Services had a return on equity of 19.92% and a net margin of 3.06%.AMN Healthcare Services's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.30 EPS. As a group, research analysts anticipate that AMN Healthcare Services will post 3.1 EPS for the current fiscal year.

Insider Activity

In related news, Director Mark G. Foletta sold 3,681 shares of the firm's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $31.07, for a total value of $114,368.67. Following the transaction, the director owned 17,917 shares of the company's stock, valued at $556,681.19. This trade represents a 17.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.07% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AMN. BlackRock Inc. acquired a new stake in AMN Healthcare Services in the second quarter valued at approximately $215,047,000. Millennium Management LLC increased its position in shares of AMN Healthcare Services by 55.8% during the fourth quarter. Millennium Management LLC now owns 2,005,966 shares of the company's stock worth $31,614,000 after purchasing an additional 718,048 shares in the last quarter. State Street Corp increased its position in shares of AMN Healthcare Services by 1.8% during the fourth quarter. State Street Corp now owns 1,624,935 shares of the company's stock worth $25,609,000 after purchasing an additional 28,479 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of AMN Healthcare Services by 3,085.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,421,949 shares of the company's stock valued at $43,928,000 after purchasing an additional 1,377,311 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of AMN Healthcare Services by 1,278.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,401,725 shares of the company's stock worth $25,708,000 after purchasing an additional 1,300,005 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company's stock.

AMN Healthcare Services Company Profile

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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