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

Shares of AMN Healthcare Services, Inc. (NYSE:AMN) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $23.26 and last traded at $23.48, with a volume of 692699 shares trading hands. The stock had previously closed at $24.47.

Wall Street Analyst Weigh In

AMN has been the topic of several research analyst reports. William Blair downgraded AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Jefferies Financial Group lowered their target price on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Truist Financial cut their price target 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. JMP Securities lowered their price objective on shares of AMN Healthcare Services from $66.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Tuesday, October 22nd. Finally, Bank of America cut shares of AMN Healthcare Services from a “neutral” rating to an “underperform” rating and cut their target price for the company from $65.00 to $48.00 in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.33.

AMN Healthcare Services Stock Performance

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.27. The firm has a 50-day moving average of $31.61 and a 200 day moving average of $44.59. The stock has a market capitalization of $873.42 million, a P/E ratio of 16.62 and a beta of 0.04.

AMN Healthcare Services (NYSE:AMN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $687.51 million during the quarter, compared to the consensus estimate of $670.08 million. AMN Healthcare Services had a net margin of 1.73% and a return on equity of 17.16%. During the same period last year, the firm earned $1.97 EPS. Research analysts anticipate that AMN Healthcare Services, Inc. will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling at AMN Healthcare Services

In other AMN Healthcare Services news, CFO Jeffrey R. Knudson sold 2,461 shares of the stock in a transaction on Saturday, November 2nd. The stock was sold at an average price of $36.90, for a total transaction of $90,810.90. Following the completion of the transaction, the chief financial officer now directly owns 37,550 shares in the company, valued at $1,385,595. This represents a 6.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On AMN Healthcare Services

A number of hedge funds have recently made changes to their positions in the company. Versor Investments LP bought a new stake in AMN Healthcare Services during the third quarter worth about $818,000. Anthracite Investment Company Inc. bought a new stake in AMN Healthcare Services during the 3rd quarter worth approximately $1,696,000. New South Capital Management Inc. grew its position in AMN Healthcare Services by 24.6% during the 2nd quarter. New South Capital Management Inc. now owns 563,147 shares of the company’s stock worth $28,850,000 after acquiring an additional 111,302 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in AMN Healthcare Services during the 3rd quarter valued at $1,892,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in AMN Healthcare Services by 23.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,096,965 shares of the company’s stock valued at $46,499,000 after purchasing an additional 209,180 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

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.