AMN Healthcare Services (NYSE:AMN) Hits New 52-Week High - Still a Buy?

Key Points

• AMN Healthcare Services reached a new 52-week high, trading as high as $38.44, while its 50-day and 200-day moving averages stood at $34.27 and $29.38, respectively.
• Analyst sentiment is positive, with a consensus rating of “Moderate Buy” and an average price target of $36.00; several firms raised targets to $40.00.
• The company exceeded quarterly expectations, reporting $0.77 in earnings per share versus a $0.19 estimate and $673.24 million in revenue, while institutional investors own 99.23% of the stock.

AMN Healthcare Services Inc (NYSE:AMN - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $38.44 and last traded at $37.3550, with a volume of 90525 shares trading hands. The stock had previously closed at $36.84.

Wall Street Analysts Forecast Growth

AMN has been the subject of several research reports. Robert W. Baird set a $36.00 price objective on shares of AMN Healthcare Services in a report on Friday, August 7th. BMO Capital Markets lifted their target price on AMN Healthcare Services from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, September 11th. Weiss Ratings upgraded AMN Healthcare Services from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, September 18th. Citizens Jmp increased their price target on AMN Healthcare Services from $36.00 to $40.00 and gave the company a "market outperform" rating in a research note on Friday, August 14th. Finally, Truist Financial raised their price target on AMN Healthcare Services from $26.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, AMN Healthcare Services currently has an average rating of "Moderate Buy" and a consensus price target of $36.00.

AMN Healthcare Services Price Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 1.13. The company's 50-day simple moving average is $34.27 and its 200 day simple moving average is $29.38. The firm has a market cap of $1.43 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 1.26 and a beta of 0.40.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.19 by $0.58. The firm had revenue of $673.24 million for 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 business's quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. Research analysts anticipate that AMN Healthcare Services Inc will post 3.32 EPS for the current fiscal year.

Institutional Investors Weigh In On AMN Healthcare Services

Several large investors have recently added to or reduced their stakes in AMN. BlackRock Inc. bought a new stake in shares of AMN Healthcare Services during the 2nd quarter worth approximately $215,047,000. Arrowstreet Capital Limited Partnership boosted its holdings 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 valued at $25,708,000 after acquiring an additional 1,300,005 shares during the period. Bank of America Corp DE bought a new position in AMN Healthcare Services in the 2nd quarter valued at $16,726,000. Renaissance Technologies LLC grew its position in AMN Healthcare Services by 50.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,376,341 shares of the company's stock valued at $25,242,000 after acquiring an additional 463,100 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in AMN Healthcare Services in the second quarter worth $7,958,000. 99.23% of the stock is owned by institutional investors.

About AMN Healthcare Services

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.

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