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

AMN Healthcare Services Inc (NYSE:AMN)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $33.72 and last traded at $33.3730, with a volume of 577225 shares trading hands. The stock had previously closed at $32.37.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Zacks Research cut shares of AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 20th. BMO Capital Markets increased their target price on AMN Healthcare Services from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Citigroup reiterated a “market outperform” rating on shares of AMN Healthcare Services in a report on Tuesday, June 23rd. UBS Group lifted their target price on shares of AMN Healthcare Services from $19.50 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings upgraded AMN Healthcare Services from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.00.

AMN Healthcare Services Price Performance

The firm has a fifty day simple moving average of $28.06 and a two-hundred day simple moving average of $21.85. The firm has a market cap of $1.29 billion, a PE ratio of -38.36, a PEG ratio of 0.74 and a beta of 0.41. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.09 and a current ratio of 1.09.

AMN Healthcare Services (NYSE:AMN) last released its quarterly earnings data on Thursday, May 7th. The company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.60 by $0.50. AMN Healthcare Services had a negative net margin of 0.95% and a positive return on equity of 18.01%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the business earned $0.45 earnings per share. AMN Healthcare Services’s quarterly revenue was up 99.9% compared to the same quarter last year. Equities analysts predict that AMN Healthcare Services Inc will post 2.7 EPS for the current fiscal year.

Insider Transactions at AMN Healthcare Services

In other AMN Healthcare Services news, Director Mark G. Foletta sold 3,681 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $31.07, for a total transaction of $114,368.67. Following the transaction, the director owned 17,917 shares in the company, valued at $556,681.19. The trade was a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership increased its stake in AMN Healthcare Services by 1,278.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,401,725 shares of the company’s stock worth $25,708,000 after purchasing an additional 1,300,005 shares during the period. Boston Partners boosted its stake in shares of AMN Healthcare Services by 7,583.1% during the fourth quarter. Boston Partners now owns 1,035,145 shares of the company’s stock valued at $16,313,000 after purchasing an additional 1,021,672 shares in the last quarter. Woodline Partners LP bought a new stake in AMN Healthcare Services during the 3rd quarter valued at $19,176,000. Millennium Management LLC grew its stake in AMN Healthcare Services by 262.1% in the third quarter. Millennium Management LLC now owns 1,287,918 shares of the company’s stock valued at $24,934,000 after purchasing an additional 932,269 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of AMN Healthcare Services by 50.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,376,341 shares of the company’s stock worth $25,242,000 after acquiring an additional 463,100 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.

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.