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

AMN Healthcare Services, Inc. (NYSE:AMN) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $25.84, but opened at $28.63. AMN Healthcare Services shares last traded at $28.03, with a volume of 379,888 shares traded.

The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.23. The business had revenue of $734.71 million during the quarter, compared to analysts’ expectations of $694.38 million. AMN Healthcare Services had a return on equity of 17.16% and a net margin of 1.73%.

Analyst Ratings Changes

AMN has been the subject of several recent research reports. BMO Capital Markets cut their price target on AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Jefferies Financial Group cut their price target on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Truist Financial cut their target price on AMN Healthcare Services from $47.00 to $40.00 and set a “buy” rating for the company in a research note on Friday. JMP Securities restated a “market outperform” rating and set a $34.00 target price on shares of AMN Healthcare Services in a research note on Thursday, February 6th. Finally, William Blair cut AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research note 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 given a buy rating to the stock. Based on data from MarketBeat.com, AMN Healthcare Services presently has a consensus rating of “Hold” and a consensus price target of $43.33.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Truvestments Capital LLC bought a new position in shares of AMN Healthcare Services in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC increased its holdings in AMN Healthcare Services by 455.0% in the third 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 during the period. Jones Financial Companies Lllp increased its holdings in AMN Healthcare Services by 33.4% in the fourth quarter. Jones Financial Companies Lllp now owns 1,505 shares of the company’s stock valued at $36,000 after purchasing an additional 377 shares during the period. LRI Investments LLC increased its holdings in AMN Healthcare Services by 368.2% in the fourth quarter. LRI Investments LLC now owns 1,620 shares of the company’s stock valued at $39,000 after purchasing an additional 1,274 shares during the period. Finally, Quarry LP increased its holdings in AMN Healthcare Services by 48.4% in the third quarter. Quarry LP now owns 2,006 shares of the company’s stock valued at $85,000 after purchasing an additional 654 shares during the period. 99.23% of the stock is currently owned by institutional investors.

AMN Healthcare Services Stock Up 6.4 %

The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 19.93 and a beta of 0.07. The stock has a fifty day moving average of $25.40 and a two-hundred day moving average of $35.15. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.18 and a quick ratio of 1.18.

AMN Healthcare Services Company Profile

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.