AMN Healthcare Services (NYSE:AMN) Shares Gap Up on Earnings Beat

AMN Healthcare Services, Inc. (NYSE:AMN)’s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $20.33, but opened at $22.45. AMN Healthcare Services shares last traded at $23.07, with a volume of 286,517 shares trading hands.

The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.26. The firm had revenue of $689.53 million during the quarter, compared to analyst estimates of $670.08 million. AMN Healthcare Services had a positive return on equity of 15.22% and a negative net margin of 4.93%. AMN Healthcare Services’s revenue was down 16.0% compared to the same quarter last year. During the same period last year, the business posted $0.97 earnings per share.

Analyst Ratings Changes

Several research analysts have commented on the stock. StockNews.com raised shares of AMN Healthcare Services from a “sell” rating to a “hold” rating in a research report on Tuesday, March 25th. BMO Capital Markets cut their price target on AMN Healthcare Services from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Truist Financial lowered their price objective on AMN Healthcare Services from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Finally, JMP Securities reissued a “market outperform” rating and set a $34.00 target price on shares of AMN Healthcare Services in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $38.67.

Institutional Investors Weigh In On AMN Healthcare Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its position in AMN Healthcare Services by 107.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,159 shares of the company’s stock valued at $28,000 after purchasing an additional 599 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of AMN Healthcare Services by 33.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,505 shares of the company’s stock valued at $36,000 after buying an additional 377 shares during the last quarter. LRI Investments LLC boosted its stake in shares of AMN Healthcare Services by 368.2% during the fourth quarter. LRI Investments LLC now owns 1,620 shares of the company’s stock worth $39,000 after buying an additional 1,274 shares during the period. Blue Trust Inc. increased its position in AMN Healthcare Services by 46.3% in the 4th quarter. Blue Trust Inc. now owns 2,381 shares of the company’s stock valued at $57,000 after acquiring an additional 754 shares during the period. Finally, KBC Group NV increased its position in AMN Healthcare Services by 110.9% in the 4th quarter. KBC Group NV now owns 2,478 shares of the company’s stock valued at $59,000 after acquiring an additional 1,303 shares during the period. Hedge funds and other institutional investors own 99.23% of the company’s stock.

AMN Healthcare Services Stock Up 8.2 %

The business has a 50-day simple moving average of $21.82 and a two-hundred day simple moving average of $25.44. The company has a market capitalization of $839.78 million, a price-to-earnings ratio of -5.71 and a beta of 0.16. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.09.

About AMN Healthcare Services

AMN Healthcare Services, Inc provides healthcare workforce solutions and staffing services to healthcare facilities in the United States. It operates through three segments: Nurse and Allied Solutions, Physician and Leadership Solutions, and Technology and Workforce Solutions. The Nurse and Allied Solutions segment offers travel nurse staffing, labor disruption staffing, local staffing, international nurse and allied permanent placement, and allied staffing solutions.