AMN Healthcare Services (NYSE:AMN) Shares Up 8.3% - Here's What Happened

Key Points

• AMN Healthcare shares jumped 8.3% to about $46.58 in Thursday trading, up from a previous close of $43.01, with roughly 802,888 shares changing hands.
• Analyst sentiment remains positive overall: AMN has an average “Moderate Buy” rating and a $36.50 consensus price target, while BMO Capital Markets recently raised its target to $43 and reiterated an “outperform” rating.
• The company’s latest quarterly results beat expectations, reporting $0.77 in EPS versus $0.19 expected and $673.24 million in revenue versus $628.39 million forecast; institutional investors own 99.23% of the stock.

Shares of AMN Healthcare Services Inc (NYSE:AMN - Get Free Report) rose 8.3% during trading on Thursday. The company traded as high as $46.39 and last traded at $46.5790. Approximately 802,888 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 1,025,611 shares. The stock had previously closed at $43.01.

Analyst Ratings Changes

A number of brokerages have commented on AMN. BMO Capital Markets lifted their price target on AMN Healthcare Services from $40.00 to $43.00 and gave the stock an "outperform" rating in a research note on Friday, October 9th. Wall Street Zen lowered AMN Healthcare Services from a "buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Citizens Jmp raised their target price on shares of AMN Healthcare Services from $36.00 to $40.00 and gave the stock a "market outperform" rating in a research report on Friday, August 14th. Citigroup reiterated an "outperform" rating on shares of AMN Healthcare Services in a report on Friday, August 14th. Finally, Robert W. Baird set a $36.00 price target on AMN Healthcare Services in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, AMN Healthcare Services presently has an average rating of "Moderate Buy" and an average price target of $36.50.

AMN Healthcare Services Stock Performance

The stock has a market cap of $1.81 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.43 and a beta of 0.40. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a fifty day moving average price of $35.41 and a 200 day moving average price of $31.06.

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

Institutional Investors Weigh In On AMN Healthcare Services

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in shares of AMN Healthcare Services by 40.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,407 shares of the company's stock valued at $194,000 after acquiring an additional 1,555 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in AMN Healthcare Services in the 3rd quarter worth about $2,050,000. Argent Capital Management LLC purchased a new position in AMN Healthcare Services in the 3rd quarter worth about $690,000. Tidal Investments LLC purchased a new stake in shares of AMN Healthcare Services during the 2nd quarter valued at about $2,301,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of AMN Healthcare Services in the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 99.23% of the company's stock.

AMN Healthcare Services Company Profile

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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