AMN Healthcare Services (NYSE:AMN) Stock Price Up 8.3% – What’s Next?

AMN Healthcare Services Inc (NYSE:AMN)’s share price was up 8.3% during trading on Thursday. The company traded as high as $46.39 and last traded at $46.5790. 802,888 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 1,025,611 shares. The stock had previously closed at $43.01.

Analysts Set New Price Targets

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

AMN Healthcare Services Stock Performance

The company has a market cap of $1.81 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.43 and a beta of 0.40. The firm’s 50 day simple moving average is $35.41 and its 200-day simple moving average is $31.06. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.13 and a current ratio of 1.13.

AMN Healthcare Services (NYSE:AMN) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $673.24 million for the quarter, compared to analyst estimates of $628.39 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts predict that AMN Healthcare Services Inc will post 3.32 EPS for the current year.

Institutional Investors Weigh In On AMN Healthcare Services

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of AMN Healthcare Services in the second quarter valued at about $215,047,000. Arrowstreet Capital Limited Partnership increased its stake in AMN Healthcare Services by 1,278.0% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,401,725 shares of the company’s stock valued at $25,708,000 after purchasing an additional 1,300,005 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of AMN Healthcare Services by 50.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,376,341 shares of the company’s stock worth $25,242,000 after buying an additional 463,100 shares during the last quarter. Bank of America Corp DE boosted its position in shares of AMN Healthcare Services by 9.0% in the 1st quarter. Bank of America Corp DE now owns 587,369 shares of the company’s stock worth $10,772,000 after buying an additional 48,501 shares in the last quarter. Finally, Systematic Financial Management LP increased its stake in shares of AMN Healthcare Services by 25.9% during the 1st quarter. Systematic Financial Management LP now owns 372,464 shares of the company’s stock worth $6,831,000 after purchasing an additional 76,550 shares in the last quarter. 99.23% of the stock is owned by institutional investors and hedge funds.

About AMN Healthcare Services

AMN Healthcare Services, Inc is a healthcare workforce solutions and technology company that helps hospitals, health systems, medical practices and other healthcare organizations recruit, deploy and manage clinical and nonclinical personnel. The company operates through a portfolio of staffing, workforce management and language-services businesses.

Its services include temporary and permanent placement of registered nurses, allied healthcare professionals and physicians, as well as locum tenens staffing for doctors and advanced practice professionals.