AMN Healthcare Services (NYSE:AMN) Reaches New 12-Month High – Still a Buy?

AMN Healthcare Services Inc (NYSE:AMN) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $33.48 and last traded at $33.2180, with a volume of 147108 shares trading hands. The stock had previously closed at $32.33.

Analyst Ratings Changes

AMN has been the topic of several research reports. Zacks Research lowered AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Wall Street Zen raised AMN Healthcare Services from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 16th. BMO Capital Markets boosted their price objective on AMN Healthcare Services from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Citigroup reissued a “market outperform” rating on shares of AMN Healthcare Services in a report on Tuesday. Finally, Weiss Ratings upgraded shares of AMN Healthcare Services from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.00.

AMN Healthcare Services Stock Up 0.8%

The firm has a market capitalization of $1.26 billion, a PE ratio of -37.48, a PEG ratio of 0.75 and a beta of 0.44. The business’s fifty day moving average price is $27.31 and its 200 day moving average price is $21.46. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.04.

AMN Healthcare Services (NYSE:AMN) last released its quarterly earnings results on Thursday, May 7th. The company reported $2.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.50. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.23 billion. AMN Healthcare Services had a positive return on equity of 18.01% and a negative net margin of 0.95%.The business’s revenue was up 99.9% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share. On average, equities research analysts forecast that AMN Healthcare Services Inc will post 2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at AMN Healthcare Services

In other news, Director Mark G. Foletta sold 3,681 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $31.07, for a total value of $114,368.67. Following the transaction, the director owned 17,917 shares of the company’s stock, valued at approximately $556,681.19. The trade was a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.07% of the company’s stock.

Institutional Investors Weigh In On AMN Healthcare Services

Several hedge funds have recently modified their holdings of the stock. Segall Bryant & Hamill LLC purchased a new position in AMN Healthcare Services in the 1st quarter valued at $382,000. Bank of America Corp DE raised its position in AMN Healthcare Services by 9.0% during the 1st quarter. Bank of America Corp DE now owns 587,369 shares of the company’s stock worth $10,772,000 after buying an additional 48,501 shares during the last quarter. Amundi acquired a new stake in shares of AMN Healthcare Services in the 1st quarter worth $350,000. California State Teachers Retirement System lifted its stake in shares of AMN Healthcare Services by 27.1% in the 1st quarter. California State Teachers Retirement System now owns 44,638 shares of the company’s stock worth $819,000 after acquiring an additional 9,519 shares during the period. Finally, Readystate Asset Management LP boosted its holdings in shares of AMN Healthcare Services by 127.5% in the first quarter. Readystate Asset Management LP now owns 79,115 shares of the company’s stock valued at $1,451,000 after acquiring an additional 44,337 shares in the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

About AMN Healthcare Services

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.