Bank of America Corp DE Purchases 516,710 Shares of AMN Healthcare Services Inc $AMN

Key Points

• Bank of America acquired 516,710 shares of AMN Healthcare Services in the second quarter, worth approximately $16.7 million and representing about 1.33% of the company. Institutional investors and hedge funds collectively own 99.23% of AMN’s outstanding shares.
• Analysts maintain a generally positive outlook, with an average rating of “Moderate Buy” and a consensus price target of $36.00; several firms recently raised their targets to between $35 and $40.
• AMN reported strong quarterly results, posting adjusted earnings of $0.77 per share versus expectations of $0.19 and revenue of $673.24 million, up 2.3% year over year. The stock opened at $34.61, near its 52-week high of $37.22.

Bank of America Corp DE purchased a new stake in AMN Healthcare Services Inc (NYSE:AMN - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 516,710 shares of the company's stock, valued at approximately $16,726,000. Bank of America Corp DE owned about 1.33% of AMN Healthcare Services as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of AMN Healthcare Services during the second quarter worth $215,047,000. Arrowstreet Capital Limited Partnership raised its stake in AMN Healthcare Services by 1,278.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,401,725 shares of the company's stock worth $25,708,000 after buying an additional 1,300,005 shares during the period. Renaissance Technologies LLC lifted its holdings in AMN Healthcare Services by 50.7% during the first quarter. Renaissance Technologies LLC now owns 1,376,341 shares of the company's stock worth $25,242,000 after acquiring an additional 463,100 shares in the last quarter. Royce & Associates LP lifted its holdings in AMN Healthcare Services by 13.6% during the fourth quarter. Royce & Associates LP now owns 460,193 shares of the company's stock worth $7,253,000 after acquiring an additional 55,137 shares in the last quarter. Finally, Systematic Financial Management LP grew its stake in AMN Healthcare Services by 25.9% in the first quarter. Systematic Financial Management LP now owns 372,464 shares of the company's stock valued at $6,831,000 after acquiring an additional 76,550 shares during the period. 99.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMN. BMO Capital Markets increased their price target on AMN Healthcare Services from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, September 11th. Truist Financial lifted their price objective on AMN Healthcare Services from $26.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. UBS Group increased their target price on AMN Healthcare Services from $32.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, August 7th. Citigroup restated an "outperform" rating on shares of AMN Healthcare Services in a report on Friday, August 14th. Finally, Robert W. Baird set a $36.00 price target on shares of AMN Healthcare Services in a research note on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $36.00.

AMN Healthcare Services Price Performance

Shares of AMN opened at $34.61 on Friday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.19 and a beta of 0.38. AMN Healthcare Services Inc has a 1-year low of $14.97 and a 1-year high of $37.22. The company's fifty day simple moving average is $34.02 and its 200 day simple moving average is $28.58. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.00.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.58. AMN Healthcare Services had a net margin of 3.06% and a return on equity of 19.92%. The firm had revenue of $673.24 million during the quarter, compared to analysts' expectations of $628.39 million. During the same quarter last year, the company posted $0.30 earnings per share. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts forecast that AMN Healthcare Services Inc will post 3.32 earnings per share for the current fiscal year.

About AMN Healthcare Services

AMN Healthcare Services, Inc provides healthcare workforce solutions and staffing services to hospitals, health systems, medical groups, government agencies and other healthcare organizations. Its services are designed to help clients address workforce shortages, manage changing staffing needs and support the delivery of patient care.

The company's offerings include travel and temporary nurse staffing, allied healthcare staffing, physician and advanced-practice professional staffing, and permanent placement services.

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