AMN Healthcare Services (NYSE:AMN) Hits New 52-Week High – Here’s Why

Shares of AMN Healthcare Services Inc (NYSE:AMN) reached a new 52-week high during trading on Thursday . The company traded as high as $33.72 and last traded at $33.3730, with a volume of 577225 shares traded. The stock had previously closed at $32.37.

Wall Street Analyst Weigh In

Several brokerages have commented on AMN. UBS Group lifted their price objective on shares of AMN Healthcare Services from $19.50 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Zacks Research downgraded AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 20th. Truist Financial lifted their price objective on AMN Healthcare Services from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, May 8th. BMO Capital Markets raised their price target on shares of AMN Healthcare Services from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Weiss Ratings raised AMN Healthcare Services from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 17th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.00.

AMN Healthcare Services Stock Up 3.1%

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 company has a market capitalization of $1.29 billion, a PE ratio of -38.36, a PEG ratio of 0.74 and a beta of 0.41. The business has a fifty day moving average of $28.06 and a 200 day moving average of $21.85.

AMN Healthcare Services (NYSE:AMN) last announced its earnings results on Thursday, May 7th. The company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.50. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.23 billion. AMN Healthcare Services had a negative net margin of 0.95% and a positive return on equity of 18.01%. The firm’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.45 EPS. Equities research analysts anticipate that AMN Healthcare Services Inc will post 2.7 EPS for the current year.

Insider Transactions at AMN Healthcare Services

In related news, Director Mark G. Foletta sold 3,681 shares of AMN Healthcare Services stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $31.07, for a total value of $114,368.67. Following the completion of the transaction, the director owned 17,917 shares in the company, valued at $556,681.19. The trade was a 17.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AMN. Summit Securities Group LLC acquired a new position in AMN Healthcare Services in the fourth quarter valued at approximately $32,000. China Universal Asset Management Co. Ltd. grew its position in AMN Healthcare Services by 200.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,000 shares of the company’s stock worth $47,000 after purchasing an additional 2,000 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in AMN Healthcare Services in the 3rd quarter valued at about $63,000. Tower Research Capital LLC TRC increased its holdings in shares of AMN Healthcare Services by 49.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company’s stock valued at $64,000 after purchasing an additional 1,020 shares during the period. Finally, Strs Ohio purchased a new position in AMN Healthcare Services during the 1st quarter worth $95,000. 99.23% of the stock is owned by institutional investors and hedge funds.

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.