Robert W. Baird Raises AMN Healthcare Services (NYSE:AMN) Price Target to $26.00

Key Points

• Robert W. Baird raised its price target on AMN Healthcare Services to $26 from $23, while keeping a neutral rating on the stock.
• AMN shares were trading at $28.85, above the new target, and the article notes Baird’s view implies about a 9.9% downside from the current price.
• The company recently posted better-than-expected earnings, with Q1 EPS of $2.10 versus $1.60 expected and revenue of $1.38 billion versus $1.23 billion estimated, helping drive broader analyst target increases.

AMN Healthcare Services (NYSE:AMN - Get Free Report) had its price objective lifted by research analysts at Robert W. Baird from $23.00 to $26.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Robert W. Baird's price objective indicates a potential downside of 9.88% from the company's current price.

AMN has been the subject of a number of other reports. UBS Group lifted their price target on shares of AMN Healthcare Services from $19.00 to $19.50 and gave the company a "neutral" rating in a research report on Friday, February 20th. Citizens Jmp lifted their price target on shares of AMN Healthcare Services from $22.00 to $24.00 and gave the company a "market outperform" rating in a research report on Monday, February 23rd. Zacks Research upgraded shares of AMN Healthcare Services from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 21st. BMO Capital Markets lifted their price target on shares of AMN Healthcare Services from $22.00 to $25.00 and gave the company an "outperform" rating in a research report on Thursday, January 15th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of AMN Healthcare Services in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, AMN Healthcare Services has an average rating of "Hold" and a consensus target price of $23.36.

AMN Healthcare Services Price Performance

Shares of NYSE AMN opened at $28.85 on Monday. The firm has a market capitalization of $1.11 billion, a P/E ratio of -33.16, a PEG ratio of 1.20 and a beta of 0.30. AMN Healthcare Services has a one year low of $14.86 and a one year high of $29.00. The company's fifty day moving average is $19.67 and its two-hundred day moving average is $18.49. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.94 and a current ratio of 1.09.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.60 by $0.50. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.23 billion. AMN Healthcare Services had a negative net margin of 0.95% and a positive return on equity of 18.01%. The business's revenue was up 99.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. Analysts forecast that AMN Healthcare Services will post 1.93 EPS for the current fiscal year.

Institutional Investors Weigh In On AMN Healthcare Services

Several institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its position in shares of AMN Healthcare Services by 18.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,782 shares of the company's stock worth $234,000 after buying an additional 1,953 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of AMN Healthcare Services in the 1st quarter worth about $2,055,000. Fifth Third Bancorp boosted its position in shares of AMN Healthcare Services by 19,555.7% in the 1st quarter. Fifth Third Bancorp now owns 15,528 shares of the company's stock worth $285,000 after buying an additional 15,449 shares in the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of AMN Healthcare Services in the 1st quarter worth about $301,000. Finally, Burney Co. purchased a new stake in shares of AMN Healthcare Services in the 1st quarter worth about $4,152,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

AMN Healthcare Services Company Profile

AMN Healthcare Services, Inc NYSE: AMN is a leading provider of healthcare workforce solutions in the United States. The company specializes in staffing and recruitment services for a broad range of clinical and allied health professionals, including travel nurses, permanent placement of nursing staff, locum tenens physicians, and allied health personnel. In addition to direct staffing, AMN Healthcare offers comprehensive workforce management solutions such as vendor management systems (VMS), recruitment process outsourcing (RPO), and compliance and credentialing services through its technology platforms.

Founded in 1985 as American Mobile Nurses, the company rebranded to AMN Healthcare in 2010 to reflect its expanding portfolio of services.

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