Wall Street Zen Downgrades AMN Healthcare Services (NYSE:AMN) to Buy

AMN Healthcare Services (NYSE:AMN) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Monday.

AMN has been the topic of several other reports. Truist Financial boosted their target price on AMN Healthcare Services from $26.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. BMO Capital Markets increased their price target on AMN Healthcare Services from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Robert W. Baird set a $36.00 price objective on AMN Healthcare Services in a report on Friday, August 7th. Citizens Jmp boosted their price objective on 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. Finally, Weiss Ratings raised shares of AMN Healthcare Services from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Four 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. Based on data from MarketBeat, AMN Healthcare Services presently has an average rating of “Hold” and an average price target of $31.43.

AMN Healthcare Services Stock Down 0.1%

AMN Healthcare Services stock opened at $34.52 on Monday. The firm has a 50 day moving average price of $33.04 and a 200-day moving average price of $25.83. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.00. AMN Healthcare Services has a twelve month low of $14.97 and a twelve month high of $37.22. The company has a market capitalization of $1.34 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.27 and a beta of 0.40.

AMN Healthcare Services (NYSE:AMN) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.58. AMN Healthcare Services had a net margin of 3.06% and a return on equity of 19.92%. The company had revenue of $673.24 million for the quarter, compared to analysts’ expectations of $628.39 million. During the same quarter in the previous year, the firm posted $0.30 EPS. AMN Healthcare Services’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts predict that AMN Healthcare Services will post 3.1 EPS for the current year.

Insider Transactions at AMN Healthcare Services

In other AMN Healthcare Services news, Director Mark G. Foletta sold 3,681 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $31.07, for a total transaction of $114,368.67. Following the sale, the director owned 17,917 shares in the company, valued at $556,681.19. This represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AMN. Versant Capital Management Inc boosted its stake in AMN Healthcare Services by 41.8% during the second quarter. Versant Capital Management Inc now owns 1,170 shares of the company’s stock valued at $38,000 after buying an additional 345 shares during the period. Allworth Financial LP bought a new position in AMN Healthcare Services in the 2nd quarter worth about $65,000. Summit Securities Group LLC purchased a new stake in shares of AMN Healthcare Services in the 4th quarter valued at about $32,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of AMN Healthcare Services by 200.0% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,000 shares of the company’s stock valued at $47,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of AMN Healthcare Services by 49.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company’s stock valued at $64,000 after acquiring an additional 1,020 shares during the last quarter. Institutional investors own 99.23% of the company’s stock.

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.