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

Shares of AMN Healthcare Services Inc (NYSE:AMN) reached a new 52-week high on Thursday. The stock traded as high as $39.73 and last traded at $38.9940, with a volume of 113,113 shares trading hands. The stock had previously closed at $37.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AMN shares. UBS Group raised their target price on shares of AMN Healthcare Services from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Weiss Ratings upgraded shares of AMN Healthcare Services from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, September 18th. Wall Street Zen cut shares of AMN Healthcare Services from a “buy” rating to a “hold” rating in a research note on Tuesday, August 25th. BMO Capital Markets raised their price objective on shares of AMN Healthcare Services from $40.00 to $43.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. Finally, Citizens Jmp raised their price objective on shares of AMN Healthcare Services from $36.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Friday, August 14th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $36.50.

AMN Healthcare Services Stock Performance

The firm has a market cap of $1.52 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 1.25 and a beta of 0.40. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.00. The stock has a fifty day moving average price of $34.66 and a 200-day moving average price of $30.27.

AMN Healthcare Services (NYSE:AMN) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.58. AMN Healthcare Services had a return on equity of 19.92% and a net margin of 3.06%. The firm had revenue of $673.24 million during the quarter, compared to the consensus estimate of $628.39 million. During the same period last year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, analysts expect that AMN Healthcare Services Inc will post 3.32 earnings per share for the current fiscal year.

Institutional Trading of AMN Healthcare Services

Several hedge funds have recently made changes to their positions in AMN. Argent Capital Management LLC purchased a new stake in shares of AMN Healthcare Services in the third quarter valued at about $690,000. Tidal Investments LLC purchased a new position in AMN Healthcare Services during the second quarter worth about $2,301,000. Integrated Wealth Concepts LLC purchased a new position in AMN Healthcare Services during the second quarter worth about $49,000. IFP Advisors Inc raised its holdings in AMN Healthcare Services by 849.6% during the second quarter. IFP Advisors Inc now owns 1,282 shares of the company’s stock worth $41,000 after purchasing an additional 1,147 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in AMN Healthcare Services by 298.2% during the second quarter. Allworth Financial LP now owns 1,995 shares of the company’s stock worth $65,000 after purchasing an additional 1,494 shares in 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 (NYSE: AMN) is a healthcare workforce solutions company that helps hospitals, health systems and other healthcare organizations recruit, deploy and manage clinical and nonclinical personnel. The company serves healthcare providers primarily in the United States.

Its services include temporary and permanent placement of nurses and allied healthcare professionals, locum tenens staffing for physicians and advanced practice providers, and recruitment and workforce consulting.