AMN Healthcare Services (NYSE:AMN) Shares Gap Up – Time to Buy?

AMN Healthcare Services, Inc. (NYSE:AMN) gapped up before the market opened on Wednesday . The stock had previously closed at $27.15, but opened at $28.60. AMN Healthcare Services shares last traded at $28.67, with a volume of 218,410 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Jefferies Financial Group dropped their price target on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. Bank of America downgraded AMN Healthcare Services from a “neutral” rating to an “underperform” rating and cut their target price for the company from $65.00 to $48.00 in a research report on Monday, October 7th. UBS Group lowered their price target on AMN Healthcare Services from $66.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, August 9th. William Blair downgraded shares of AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Finally, Truist Financial lowered their target price on shares of AMN Healthcare Services from $50.00 to $47.00 and set a “buy” rating for the company in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $48.33.

AMN Healthcare Services Stock Up 3.5 %

The stock has a market cap of $1.07 billion, a P/E ratio of 20.78 and a beta of 0.04. The company’s 50 day moving average price is $34.97 and its two-hundred day moving average price is $46.96. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.27.

AMN Healthcare Services (NYSE:AMN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $687.51 million during the quarter, compared to analyst estimates of $670.08 million. AMN Healthcare Services had a net margin of 1.73% and a return on equity of 17.16%. During the same period in the prior year, the firm earned $1.97 earnings per share. As a group, research analysts expect that AMN Healthcare Services, Inc. will post 3.07 earnings per share for the current year.

Insider Activity at AMN Healthcare Services

In related news, CFO Jeffrey R. Knudson sold 2,461 shares of the stock in a transaction that occurred on Saturday, November 2nd. The shares were sold at an average price of $36.90, for a total value of $90,810.90. Following the transaction, the chief financial officer now owns 37,550 shares in the company, valued at approximately $1,385,595. This represents a 6.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.93% of the stock is owned by corporate insiders.

Institutional Trading of AMN Healthcare Services

Several large investors have recently made changes to their positions in AMN. Truvestments Capital LLC purchased a new position in shares of AMN Healthcare Services during the 3rd quarter valued at about $30,000. Mather Group LLC. purchased a new position in AMN Healthcare Services during the second quarter valued at approximately $31,000. Nisa Investment Advisors LLC boosted its position in AMN Healthcare Services by 41.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 748 shares of the company’s stock worth $38,000 after purchasing an additional 219 shares in the last quarter. GAMMA Investing LLC boosted its position in AMN Healthcare Services by 232.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,160 shares of the company’s stock worth $59,000 after purchasing an additional 811 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of AMN Healthcare Services by 455.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,493 shares of the company’s stock valued at $63,000 after purchasing an additional 1,224 shares in the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.

About AMN Healthcare Services

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.