AMN Healthcare Services (NYSE:AMN) Downgraded to “Hold” Rating by Zacks Research

Zacks Research cut shares of AMN Healthcare Services (NYSE:AMN) from a strong-buy rating to a hold rating in a research report released on Wednesday morning,Zacks.com reports.

AMN has been the subject of several other research reports. Citizens Jmp boosted their price objective on shares of AMN Healthcare Services from $22.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Monday, February 23rd. UBS Group raised their price objective on AMN Healthcare Services from $19.50 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AMN Healthcare Services in a research note on Wednesday, January 21st. Citigroup reaffirmed an “outperform” rating on shares of AMN Healthcare Services in a research note on Monday, February 23rd. Finally, Wall Street Zen raised shares of AMN Healthcare Services from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 16th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.29.

AMN Healthcare Services Stock Down 4.5%

NYSE AMN opened at $25.65 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $21.28 and its two-hundred day moving average is $19.08. The company has a market capitalization of $994.82 million, a price-to-earnings ratio of -29.48, a PEG ratio of 0.66 and a beta of 0.30. AMN Healthcare Services has a 1-year low of $14.86 and a 1-year high of $31.65.

AMN Healthcare Services (NYSE:AMN) last posted its earnings results on Thursday, May 7th. The company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.50. AMN Healthcare Services had a negative net margin of 0.95% and a positive return on equity of 18.01%. The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. AMN Healthcare Services’s quarterly revenue was up 99.9% compared to the same quarter last year. Equities analysts forecast that AMN Healthcare Services will post 2.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMN Healthcare Services

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in shares of AMN Healthcare Services by 9.0% during the first quarter. Bank of America Corp DE now owns 587,369 shares of the company’s stock worth $10,772,000 after acquiring an additional 48,501 shares in the last quarter. Amundi bought a new stake in shares of AMN Healthcare Services during the first quarter worth about $350,000. California State Teachers Retirement System increased its position in shares of AMN Healthcare Services by 27.1% during the first quarter. California State Teachers Retirement System now owns 44,638 shares of the company’s stock worth $819,000 after acquiring an additional 9,519 shares in the last quarter. Readystate Asset Management LP increased its position in shares of AMN Healthcare Services by 127.5% during the first quarter. Readystate Asset Management LP now owns 79,115 shares of the company’s stock worth $1,451,000 after acquiring an additional 44,337 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of AMN Healthcare Services by 18.9% during the first quarter. Royal Bank of Canada now owns 55,755 shares of the company’s stock worth $1,023,000 after acquiring an additional 8,859 shares in the last quarter. 99.23% of the stock is owned by institutional investors.

About AMN Healthcare Services

AMN Healthcare Services, Inc (NYSE: AMN) is a leading provider of healthcare workforce solutions in the United States. The company specializes in staffing and recruitment services for a broad range of clinical and allied health professionals, including travel nurses, permanent placement of nursing staff, locum tenens physicians, and allied health personnel. In addition to direct staffing, AMN Healthcare offers comprehensive workforce management solutions such as vendor management systems (VMS), recruitment process outsourcing (RPO), and compliance and credentialing services through its technology platforms.

Founded in 1985 as American Mobile Nurses, the company rebranded to AMN Healthcare in 2010 to reflect its expanding portfolio of services.