AMN Healthcare Services (NYSE:AMN) Hits New 12-Month High - Time to Buy?

Key Points

• AMN Healthcare shares reached a new 52-week high, trading as high as $39.73 and gaining 4.3% to approximately $38.99.
• Analyst sentiment is mixed but generally positive: the stock has a “Moderate Buy” consensus, with four Buy and four Hold ratings. BMO Capital Markets raised its price target to $43, while the consensus target is $36.50.
• AMN exceeded quarterly expectations, reporting adjusted earnings of $0.77 per share versus the $0.19 consensus and revenue of $673.24 million, up 2.3% year over year. Institutional investors own 99.23% of the company.

AMN Healthcare Services Inc (NYSE:AMN - Get Free Report) shares reached a new 52-week high during trading on Thursday. The stock traded as high as $39.73 and last traded at $38.9940, with a volume of 113,113 shares traded. The stock had previously closed at $37.66.

Analyst Ratings Changes

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

AMN Healthcare Services Trading Up 4.3%

The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 14.66, a P/E/G ratio of 1.25 and a beta of 0.40. The business's 50 day moving average is $34.66 and its 200 day moving average is $30.27. 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 results on Thursday, August 6th. The company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.58. The company had revenue of $673.24 million for 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% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. As a group, equities analysts expect that AMN Healthcare Services Inc will post 3.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AMN Healthcare Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AMN. Argent Capital Management LLC purchased a new stake in AMN Healthcare Services in the third quarter valued at $690,000. Tidal Investments LLC acquired a new position in AMN Healthcare Services in the second quarter valued at $2,301,000. Integrated Wealth Concepts LLC purchased a new position in shares of AMN Healthcare Services during the second quarter worth about $49,000. IFP Advisors Inc lifted its holdings in shares of AMN Healthcare Services by 849.6% in the 2nd quarter. IFP Advisors Inc now owns 1,282 shares of the company's stock valued at $41,000 after purchasing an additional 1,147 shares during the last quarter. Finally, Allworth Financial LP lifted its holdings in shares of AMN Healthcare Services by 298.2% in the 2nd quarter. Allworth Financial LP now owns 1,995 shares of the company's stock valued at $65,000 after purchasing an additional 1,494 shares during the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

AMN Healthcare Services Company Profile

AMN Healthcare Services, Inc NYSE: AMN is a healthcare workforce solutions company that helps hospitals, health systems and other healthcare organizations recruit, deploy and manage clinical and nonclinical personnel. The company serves healthcare providers primarily in the United States.

Its services include temporary and permanent placement of nurses and allied healthcare professionals, locum tenens staffing for physicians and advanced practice providers, and recruitment and workforce consulting.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.