AMN Healthcare Services (NYSE:AMN) Sets New 52-Week Low Following Analyst Downgrade

AMN Healthcare Services, Inc. (NYSE:AMN)’s stock price hit a new 52-week low during mid-day trading on Friday after Truist Financial lowered their price target on the stock from $50.00 to $47.00. Truist Financial currently has a buy rating on the stock. AMN Healthcare Services traded as low as $29.26 and last traded at $29.41, with a volume of 174660 shares changing hands. The stock had previously closed at $40.92.

A number of other equities research analysts also recently issued reports on the stock. StockNews.com downgraded shares of AMN Healthcare Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Bank of America lowered AMN Healthcare Services from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $65.00 to $48.00 in a report on Monday, October 7th. William Blair lowered AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a report on Friday. JMP Securities cut their price objective on AMN Healthcare Services from $66.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Tuesday, October 22nd. Finally, UBS Group decreased their target price on AMN Healthcare Services from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $57.60.

Insider Buying and Selling

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 of the company’s stock, valued at approximately $1,385,595. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AMN Healthcare Services

Several institutional investors have recently added to or reduced their stakes in AMN. Intech Investment Management LLC increased its stake in shares of AMN Healthcare Services by 100.3% in the third quarter. Intech Investment Management LLC now owns 35,834 shares of the company’s stock worth $1,519,000 after purchasing an additional 17,948 shares in the last quarter. Anthracite Investment Company Inc. bought a new position in AMN Healthcare Services in the 3rd quarter worth approximately $1,696,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in AMN Healthcare Services by 13.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 50,786 shares of the company’s stock valued at $2,153,000 after buying an additional 6,024 shares in the last quarter. Strengthening Families & Communities LLC raised its holdings in AMN Healthcare Services by 10.6% during the 3rd quarter. Strengthening Families & Communities LLC now owns 11,723 shares of the company’s stock valued at $497,000 after acquiring an additional 1,119 shares during the period. Finally, Quest Partners LLC bought a new stake in AMN Healthcare Services during the 3rd quarter valued at $334,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

AMN Healthcare Services Trading Down 29.0 %

The firm has a 50-day simple moving average of $42.13 and a 200-day simple moving average of $51.00. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.36. The stock has a market cap of $1.10 billion, a PE ratio of 11.22 and a beta of 0.13.

AMN Healthcare Services (NYSE:AMN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.22. The business had revenue of $740.69 million for the quarter, compared to analysts’ expectations of $740.43 million. AMN Healthcare Services had a return on equity of 23.68% and a net margin of 3.07%. The firm’s quarterly revenue was down 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.38 EPS. Equities analysts forecast that AMN Healthcare Services, Inc. will post 3.15 earnings per share for the current year.

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.