AMN Healthcare Services (NYSE:AMN) Hits New 1-Year High - Still a Buy?

Key Points

• AMN Healthcare Services reached a new 52-week high, trading as high as $49.62 before closing at $47.69, despite the article noting a 5.4% decline.
• Analysts maintain a cautiously positive outlook, with a consensus “Moderate Buy” rating from eight analysts but an average price target of $36.50—well below the recent share price.
• The company exceeded quarterly expectations, reporting $0.77 in EPS versus a $0.19 estimate and $673.24 million in revenue, up 2.3% year over year. Institutional investors own 99.23% of outstanding shares.

AMN Healthcare Services Inc (NYSE:AMN - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday. The stock traded as high as $49.62 and last traded at $47.69, with a volume of 78,961 shares. The stock had previously closed at $49.00.

Wall Street Analyst Weigh In

AMN has been the subject of a number of analyst reports. Robert W. Baird set a $36.00 price target on AMN Healthcare Services in a report on Friday, August 7th. Wall Street Zen cut AMN Healthcare Services from a "buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Citigroup reiterated an "outperform" rating on shares of AMN Healthcare Services in a research note on Friday, August 14th. BMO Capital Markets increased their target price on shares of AMN Healthcare Services from $40.00 to $43.00 and gave the stock an "outperform" rating in a report on Friday, October 9th. Finally, Weiss Ratings raised AMN Healthcare Services from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, September 18th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, AMN Healthcare Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.50.

AMN Healthcare Services Stock Down 5.4%

The firm has a market capitalization of $1.79 billion, a P/E ratio of 17.35, a PEG ratio of 1.65 and a beta of 0.40. The firm's fifty day moving average price is $36.23 and its 200-day moving average price is $27.80. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 1.13.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.58. AMN Healthcare Services had a return on equity of 19.92% and a net margin of 3.06%. The company had revenue of $673.24 million for the quarter, compared to the consensus estimate of $628.39 million. During the same quarter in the previous year, the business earned $0.30 EPS. The company's quarterly revenue was up 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that AMN Healthcare Services Inc will post 3.32 earnings per share for the current year.

Hedge Funds Weigh In On AMN Healthcare Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. increased its position in shares of AMN Healthcare Services by 204.7% in the first quarter. Sei Investments Co. now owns 51,984 shares of the company's stock worth $953,000 after acquiring an additional 34,925 shares in the last quarter. Deutsche Bank AG acquired a new stake in AMN Healthcare Services during the second quarter valued at $1,341,000. Assenagon Asset Management S.A. bought a new stake in shares of AMN Healthcare Services in the 2nd quarter valued at approximately $1,464,000. First National Bank of Omaha acquired a new position in shares of AMN Healthcare Services during the 2nd quarter worth $2,575,000. Finally, Tidal Investments LLC acquired a new position in AMN Healthcare Services during the second quarter worth $2,301,000. Institutional investors and hedge funds own 99.23% of the company's stock.

About AMN Healthcare Services

AMN Healthcare Services, Inc is a healthcare workforce solutions and technology company that helps hospitals, health systems, medical practices and other healthcare organizations recruit, deploy and manage clinical and nonclinical personnel. The company operates through a portfolio of staffing, workforce management and language-services businesses.

Its services include temporary and permanent placement of registered nurses, allied healthcare professionals and physicians, as well as locum tenens staffing for doctors and advanced practice professionals.

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