AMN Healthcare Services (NYSE:AMN) Stock Price Down 6% – Here’s What Happened

Shares of AMN Healthcare Services, Inc. (NYSE:AMN) fell 6% during mid-day trading on Tuesday . The company traded as low as $25.86 and last traded at $25.94. 163,857 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 623,014 shares. The stock had previously closed at $27.61.

Wall Street Analyst Weigh In

AMN has been the topic of several recent analyst reports. BMO Capital Markets cut their target price on 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. Benchmark reiterated a “hold” rating on shares of AMN Healthcare Services in a report on Wednesday, October 2nd. Jefferies Financial Group lowered their price objective 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. Truist Financial cut their target price on AMN Healthcare Services from $50.00 to $47.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Finally, JMP Securities decreased their price target on AMN Healthcare Services from $66.00 to $57.00 and set a “market outperform” rating for the company in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, AMN Healthcare Services currently has a consensus rating of “Hold” and a consensus price target of $48.33.

AMN Healthcare Services Price Performance

The company has a fifty day simple moving average of $25.96 and a 200-day simple moving average of $40.74. The company has a market cap of $996.41 million, a P/E ratio of 18.97 and a beta of 0.05. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.18 and a quick ratio of 1.18.

AMN Healthcare Services (NYSE:AMN) last announced its earnings results on Thursday, November 7th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. AMN Healthcare Services had a return on equity of 17.16% and a net margin of 1.73%. The company had revenue of $687.51 million for the quarter, compared to analyst estimates of $670.08 million. During the same period in the previous year, the firm earned $1.97 earnings per share. On average, sell-side analysts predict that AMN Healthcare Services, Inc. will post 3.07 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Jeffrey R. Knudson sold 2,461 shares of the business’s stock in a transaction that occurred on Saturday, November 2nd. The shares were sold at an average price of $36.90, for a total transaction of $90,810.90. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Hedge Funds Weigh In On AMN Healthcare Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in AMN Healthcare Services during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC raised its position in AMN Healthcare Services by 455.0% during the third quarter. Farther Finance Advisors LLC now owns 1,493 shares of the company’s stock valued at $63,000 after buying an additional 1,224 shares during the period. GAMMA Investing LLC lifted its stake in AMN Healthcare Services by 189.6% in the 4th quarter. GAMMA Investing LLC now owns 3,018 shares of the company’s stock worth $72,000 after acquiring an additional 1,976 shares in the last quarter. Quarry LP boosted its position in AMN Healthcare Services by 48.4% during the 3rd quarter. Quarry LP now owns 2,006 shares of the company’s stock worth $85,000 after acquiring an additional 654 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new position in AMN Healthcare Services during the 3rd quarter valued at about $151,000. 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.