AMN Healthcare Services (NYSE:AMN) Shares Up 6.9% Following Strong Earnings

AMN Healthcare Services, Inc. (NYSE:AMN)’s share price traded up 6.9% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $25.57 and last traded at $25.48. 164,030 shares changed hands during trading, a decline of 79% from the average session volume of 782,323 shares. The stock had previously closed at $23.84.

The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. The business had revenue of $734.71 million for the quarter, compared to analysts’ expectations of $694.38 million. AMN Healthcare Services had a positive return on equity of 14.49% and a negative net margin of 4.93%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. William Blair lowered AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. BMO Capital Markets reduced their price objective on AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Truist Financial reduced their price objective on AMN Healthcare Services from $47.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday. Jefferies Financial Group reduced their price objective on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Finally, JMP Securities reiterated a “market outperform” rating and set a $34.00 price objective on shares of AMN Healthcare Services in a research report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.33.

Institutional Investors Weigh In On AMN Healthcare Services

Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new stake in AMN Healthcare Services during the 4th quarter valued at about $1,609,000. PharVision Advisers LLC purchased a new stake in AMN Healthcare Services during the 4th quarter valued at about $570,000. White Knight Strategic Wealth Advisors LLC boosted its holdings in AMN Healthcare Services by 60.9% during the 4th quarter. White Knight Strategic Wealth Advisors LLC now owns 25,650 shares of the company’s stock valued at $614,000 after acquiring an additional 9,710 shares during the period. Voloridge Investment Management LLC purchased a new stake in AMN Healthcare Services during the 4th quarter valued at about $12,685,000. Finally, Squarepoint Ops LLC purchased a new stake in AMN Healthcare Services during the 4th quarter valued at about $238,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

AMN Healthcare Services Price Performance

The company has a market capitalization of $1.05 billion, a PE ratio of -7.14 and a beta of 0.07. The firm has a fifty day moving average of $25.40 and a two-hundred day moving average of $35.15. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.27.

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.