AMN Healthcare Services (NYSE:AMN) Trading Down 4.5% – Here’s Why

Shares of AMN Healthcare Services, Inc. (NYSE:AMN) were down 4.5% during mid-day trading on Tuesday . The company traded as low as $25.94 and last traded at $25.94. Approximately 15,872 shares traded hands during trading, a decline of 98% from the average daily volume of 849,398 shares. The stock had previously closed at $27.16.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. BMO Capital Markets decreased their price target on shares of AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Truist Financial dropped their price objective on AMN Healthcare Services from $50.00 to $47.00 and set a “buy” rating for the company in a report on Friday, November 8th. Benchmark reaffirmed a “hold” rating on shares of AMN Healthcare Services in a research note on Wednesday, October 2nd. Jefferies Financial Group lowered their price target on shares of AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Finally, Bank of America lowered shares of AMN Healthcare Services from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $65.00 to $48.00 in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $48.33.

AMN Healthcare Services Trading Up 0.1 %

The business has a 50 day moving average price of $36.80 and a 200 day moving average price of $48.13. The company has a market capitalization of $1.00 billion, a P/E ratio of 19.06 and a beta of 0.13. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.27.

AMN Healthcare Services (NYSE:AMN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. AMN Healthcare Services had a net margin of 1.73% and a return on equity of 17.16%. The company had revenue of $687.51 million for the quarter, compared to analysts’ expectations of $670.08 million. During the same period last year, the firm posted $1.97 earnings per share. Analysts anticipate that AMN Healthcare Services, Inc. will post 3.09 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Jeffrey R. Knudson sold 2,461 shares of AMN Healthcare Services stock in a transaction dated Saturday, November 2nd. The stock was sold at an average price of $36.90, for a total transaction of $90,810.90. Following the transaction, the chief financial officer now owns 37,550 shares in the company, valued at $1,385,595. The trade was a 6.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Institutional Trading of AMN Healthcare Services

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its holdings in shares of AMN Healthcare Services by 41.4% in the second quarter. Nisa Investment Advisors LLC now owns 748 shares of the company’s stock valued at $38,000 after buying an additional 219 shares during the period. Arizona State Retirement System raised its holdings in shares of AMN Healthcare Services by 2.1% during the second quarter. Arizona State Retirement System now owns 10,606 shares of the company’s stock worth $543,000 after acquiring an additional 221 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in AMN Healthcare Services by 3.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,730 shares of the company’s stock valued at $345,000 after acquiring an additional 252 shares in the last quarter. SummerHaven Investment Management LLC lifted its position in AMN Healthcare Services by 4.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,024 shares of the company’s stock valued at $360,000 after acquiring an additional 278 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in AMN Healthcare Services by 5.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,708 shares of the company’s stock worth $284,000 after purchasing an additional 337 shares during the period. 99.23% of the stock is currently owned by institutional investors and hedge funds.

AMN Healthcare Services Company Profile

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.