Zweig DiMenna Associates LLC Makes New Investment in AMN Healthcare Services Inc (NYSE:AMN)

Key Points

• Zweig DiMenna Associates LLC has purchased 223,241 shares of AMN Healthcare Services, valued around $5.46 million, increasing their ownership to 0.58% as of the latest reporting period.
• AMN Healthcare Services reported earnings per share (EPS) of $0.45 for the last quarter, surpassing analyst expectations, but experienced a 16% decline in revenue year-over-year.
• Analysts have downgraded their target price for AMN Healthcare shares, with UBS Group setting a new target of $25.50 and Truist Financial lowering it to $25.00, reflecting a cautious outlook on the stock.

Zweig DiMenna Associates LLC purchased a new stake in AMN Healthcare Services Inc (NYSE:AMN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 223,241 shares of the company's stock, valued at approximately $5,460,000. Zweig DiMenna Associates LLC owned 0.58% of AMN Healthcare Services as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMN. Newtyn Management LLC acquired a new stake in shares of AMN Healthcare Services in the 4th quarter valued at $28,417,000. Voloridge Investment Management LLC acquired a new stake in AMN Healthcare Services during the 4th quarter worth $12,685,000. Pacer Advisors Inc. acquired a new stake in AMN Healthcare Services during the 1st quarter worth $11,831,000. Two Sigma Investments LP raised its stake in AMN Healthcare Services by 228.8% during the 4th quarter. Two Sigma Investments LP now owns 532,694 shares of the company's stock worth $12,742,000 after acquiring an additional 370,691 shares in the last quarter. Finally, Invenomic Capital Management LP raised its stake in AMN Healthcare Services by 406.3% during the 4th quarter. Invenomic Capital Management LP now owns 401,807 shares of the company's stock worth $9,611,000 after acquiring an additional 322,445 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company's stock.

AMN Healthcare Services Stock Performance

Shares of NYSE:AMN traded down $0.23 during midday trading on Tuesday, hitting $19.44. The stock had a trading volume of 171,427 shares, compared to its average volume of 853,647. The company has a market capitalization of $744.01 million, a PE ratio of -4.49 and a beta of 0.18. AMN Healthcare Services Inc has a 1 year low of $17.45 and a 1 year high of $70.07. The stock has a 50 day moving average price of $21.10 and a two-hundred day moving average price of $22.66. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.39.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.45 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.26. The firm had revenue of $689.53 million for the quarter, compared to the consensus estimate of $670.08 million. AMN Healthcare Services had a negative net margin of 5.80% and a positive return on equity of 13.39%. The firm's revenue was down 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.97 earnings per share. As a group, equities analysts predict that AMN Healthcare Services Inc will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on AMN. UBS Group lowered their price objective on shares of AMN Healthcare Services from $30.00 to $25.50 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Truist Financial lowered their price objective on shares of AMN Healthcare Services from $40.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. 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 company. According to data from MarketBeat.com, AMN Healthcare Services presently has a consensus rating of "Hold" and an average target price of $32.08.

AMN Healthcare Services Company Profile

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.