AMN Healthcare Services (NYSE:AMN) Hits New 12-Month Low – Here’s Why

AMN Healthcare Services, Inc. (NYSE:AMN) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $22.47 and last traded at $23.21, with a volume of 838724 shares traded. The stock had previously closed at $22.94.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AMN. William Blair cut shares of AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Jefferies Financial Group decreased their price target on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. BMO Capital Markets dropped their price objective on AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Benchmark reaffirmed a “hold” rating on shares of AMN Healthcare Services in a research note on Wednesday, October 2nd. Finally, JMP Securities dropped their price target on AMN Healthcare Services from $66.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $48.33.

AMN Healthcare Services Trading Up 0.8 %

The company has a debt-to-equity ratio of 1.27, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a fifty day simple moving average of $30.60 and a 200-day simple moving average of $43.80. The firm has a market cap of $890.55 million, a P/E ratio of 16.95 and a beta of 0.04.

AMN Healthcare Services (NYSE:AMN) last issued its earnings results on Thursday, November 7th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The company had revenue of $687.51 million for the quarter, compared to analysts’ expectations of $670.08 million. AMN Healthcare Services had a return on equity of 17.16% and a net margin of 1.73%. During the same period last year, the business earned $1.97 EPS. On average, equities research analysts expect that AMN Healthcare Services, Inc. will post 3.07 earnings per share for the current year.

Insider Activity

In other news, CFO Jeffrey R. Knudson sold 2,461 shares of the firm’s stock in a transaction that occurred on Saturday, November 2nd. The stock was 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 $1,385,595. This trade represents a 6.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On AMN Healthcare Services

Several institutional investors have recently bought and sold shares of AMN. Truvestments Capital LLC purchased a new position in AMN Healthcare Services during the 3rd quarter worth $30,000. Farther Finance Advisors LLC boosted its holdings in AMN Healthcare Services by 455.0% during the third quarter. Farther Finance Advisors LLC now owns 1,493 shares of the company’s stock worth $63,000 after purchasing an additional 1,224 shares during the last quarter. Innealta Capital LLC bought a new stake in AMN Healthcare Services in the 2nd quarter worth about $65,000. Quarry LP increased its stake in AMN Healthcare Services by 48.4% in the 3rd quarter. Quarry LP now owns 2,006 shares of the company’s stock valued at $85,000 after buying an additional 654 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of AMN Healthcare Services during the 3rd quarter worth approximately $151,000. Institutional investors own 99.23% of the company’s stock.

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.