Hsbc Holdings PLC Invests $1.53 Million in AMN Healthcare Services Inc $AMN

Key Points

• HSBC Holdings acquired 46,987 shares of AMN Healthcare Services in the second quarter, worth approximately $1.53 million and representing about 0.12% of the company. Institutional investors collectively own 99.23% of AMN.
• AMN reported quarterly earnings of $0.77 per share, significantly above the $0.19 consensus estimate, while revenue reached $673.24 million, up 2.3% year over year and ahead of expectations.
• Analyst sentiment is mixed: several firms raised their price targets to $40, but the overall consensus remains “Hold” with a $36 target price. AMN shares recently traded at $33.33, near their 12-month high of $37.22.

Hsbc Holdings PLC acquired a new stake in shares of AMN Healthcare Services Inc (NYSE:AMN - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 46,987 shares of the company's stock, valued at approximately $1,534,000. Hsbc Holdings PLC owned about 0.12% of AMN Healthcare Services at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMN. Versant Capital Management Inc lifted its position in AMN Healthcare Services by 41.8% in the 2nd quarter. Versant Capital Management Inc now owns 1,170 shares of the company's stock worth $38,000 after buying an additional 345 shares during the last quarter. Tower Research Capital LLC TRC grew its position in AMN Healthcare Services by 49.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company's stock valued at $64,000 after acquiring an additional 1,020 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in AMN Healthcare Services by 2.8% during the first 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 last quarter. Swiss National Bank raised its stake in shares of AMN Healthcare Services by 1.9% during the fourth quarter. Swiss National Bank now owns 75,600 shares of the company's stock worth $1,191,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Creative Planning lifted its holdings in shares of AMN Healthcare Services by 11.0% in the 3rd quarter. Creative Planning now owns 14,664 shares of the company's stock worth $284,000 after acquiring an additional 1,451 shares during the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.

AMN Healthcare Services Price Performance

AMN stock opened at $33.33 on Friday. The firm's 50-day moving average price is $33.81 and its two-hundred day moving average price is $27.67. AMN Healthcare Services Inc has a 12-month low of $14.97 and a 12-month high of $37.22. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.15 and a beta of 0.38. 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 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 predict that AMN Healthcare Services Inc will post 3.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMN has been the topic of several recent research reports. Truist Financial increased their target price on shares of AMN Healthcare Services from $26.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. BMO Capital Markets boosted their price target on shares of AMN Healthcare Services from $38.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday. Citizens Jmp upped their price target on shares of AMN Healthcare Services from $36.00 to $40.00 and gave the company a "market outperform" rating in a research report on Friday, August 14th. Wall Street Zen cut AMN Healthcare Services from a "buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Finally, Robert W. Baird set a $36.00 price objective on AMN Healthcare Services in a report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $36.00.

Insider Buying and Selling

In other AMN Healthcare Services 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 sale, the director owned 17,917 shares in the company, valued at approximately $556,681.19. This trade represents a 17.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is owned by insiders.

AMN Healthcare Services Profile

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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