AMN Healthcare Services (NYSE:AMN) Reaches New 52-Week High - What's Next?

Key Points

• AMN Healthcare Services reached a new 52-week high, trading as high as $41.83, above its previous close of $40.50.
• The company reported stronger-than-expected quarterly results, with EPS of $0.77 versus the $0.19 consensus estimate and revenue of $673.24 million, up 2.3% year over year.
• Analyst sentiment remains positive but mixed: AMN has a “Moderate Buy” consensus rating and a $36.50 average price target, while institutional investors own 99.23% of its shares.

AMN Healthcare Services Inc (NYSE:AMN - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday. The stock traded as high as $41.83 and last traded at $41.5660, with a volume of 682,085 shares traded. The stock had previously closed at $40.50.

Analyst Ratings Changes

Several equities analysts recently weighed in on AMN shares. UBS Group lifted their target price on shares of AMN Healthcare Services from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Friday, August 7th. Robert W. Baird set a $36.00 price target on shares of AMN Healthcare Services in a report on Friday, August 7th. Weiss Ratings upgraded AMN Healthcare Services from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, September 18th. Wall Street Zen downgraded shares of AMN Healthcare Services from a "buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Finally, Truist Financial raised their target price on AMN Healthcare Services from $26.00 to $40.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.50.

AMN Healthcare Services Stock Performance

The firm has a market capitalization of $1.61 billion, a PE ratio of 11.64, a PEG ratio of 1.39 and a beta of 0.40. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.00. The firm's fifty day moving average price is $35.20 and its 200 day moving average price is $30.89.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.77 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $628.39 million. During the same period in the prior year, the business posted $0.30 earnings per share. The business's quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts anticipate that AMN Healthcare Services Inc will post 3.32 earnings per share for the current year.

Institutional Investors Weigh In On AMN Healthcare Services

A number of hedge funds have recently made changes to their positions in AMN. BlackRock Inc. acquired a new position in shares of AMN Healthcare Services during the 2nd quarter worth about $215,047,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of 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 acquiring an additional 1,300,005 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in AMN Healthcare Services by 50.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,376,341 shares of the company's stock valued at $25,242,000 after purchasing an additional 463,100 shares during the last quarter. Bank of America Corp DE bought a new position in AMN Healthcare Services during the second quarter worth $16,726,000. Finally, Bank of New York Mellon Corp bought a new position in shares of AMN Healthcare Services in the second quarter valued at about $7,958,000. Institutional investors and hedge funds own 99.23% of the company's stock.

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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