AMN Healthcare Services (NYSE:AMN) Shares Up 6.9% Following Earnings Beat

AMN Healthcare Services, Inc. (NYSE:AMN) shot up 6.9% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $25.57 and last traded at $25.48. 164,030 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 782,323 shares. The stock had previously closed at $23.84.

The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. AMN Healthcare Services had a positive return on equity of 14.49% and a negative net margin of 4.93%. The company had revenue of $734.71 million for the quarter, compared to analysts’ expectations of $694.38 million.

Analyst Ratings Changes

Several equities research analysts recently weighed in on AMN shares. Jefferies Financial Group cut their target price on shares of AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. BMO Capital Markets cut their price objective on AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. JMP Securities reiterated a “market outperform” rating and issued a $34.00 target price on shares of AMN Healthcare Services in a report on Thursday, February 6th. Truist Financial cut their price target on AMN Healthcare Services from $47.00 to $40.00 and set a “buy” rating on the stock in a report on Friday. Finally, William Blair cut AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, AMN Healthcare Services has an average rating of “Hold” and an average price target of $43.33.

Institutional Investors Weigh In On AMN Healthcare Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its stake in shares of AMN Healthcare Services by 152.4% during the 3rd quarter. FMR LLC now owns 4,640,599 shares of the company’s stock valued at $196,715,000 after acquiring an additional 2,801,663 shares during the last quarter. Vanguard Group Inc. grew its stake in AMN Healthcare Services by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 4,434,866 shares of the company’s stock worth $106,082,000 after buying an additional 108,284 shares during the period. State Street Corp increased its position in shares of AMN Healthcare Services by 1.1% in the third quarter. State Street Corp now owns 1,520,429 shares of the company’s stock worth $64,451,000 after acquiring an additional 16,075 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of AMN Healthcare Services by 2.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,293,483 shares of the company’s stock valued at $54,831,000 after acquiring an additional 30,157 shares during the period. Finally, Newtyn Management LLC purchased a new position in shares of AMN Healthcare Services in the 4th quarter valued at $28,417,000. 99.23% of the stock is currently owned by institutional investors and hedge funds.

AMN Healthcare Services Price Performance

The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -7.14 and a beta of 0.07. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.18 and a current ratio of 1.18. The company’s fifty day moving average is $25.40 and its two-hundred day moving average is $35.15.

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.