StockNews.com Downgrades AMN Healthcare Services (NYSE:AMN) to Buy

StockNews.com cut shares of AMN Healthcare Services (NYSE:AMNGet Rating) from a strong-buy rating to a buy rating in a report issued on Tuesday.

Separately, Credit Suisse Group increased their price objective on shares of AMN Healthcare Services from $120.00 to $121.00 and gave the company an outperform rating in a research note on Thursday, June 16th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and a consensus target price of $137.60.

AMN Healthcare Services Stock Performance

Shares of AMN Healthcare Services stock opened at $117.83 on Tuesday. The company has a 50 day moving average of $108.79 and a 200-day moving average of $103.03. AMN Healthcare Services has a 1-year low of $82.75 and a 1-year high of $129.12. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.78. The company has a market cap of $5.27 billion, a PE ratio of 13.96, a price-to-earnings-growth ratio of 10.02 and a beta of 0.26.

AMN Healthcare Services (NYSE:AMNGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.00 by $0.31. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.37 billion. AMN Healthcare Services had a net margin of 8.67% and a return on equity of 44.09%. The firm’s quarterly revenue was up 66.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.64 EPS. As a group, equities research analysts forecast that AMN Healthcare Services will post 10.41 earnings per share for the current fiscal year.

AMN Healthcare Services declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 15th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the company to purchase up to 5.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at AMN Healthcare Services

In other AMN Healthcare Services news, insider Mark Christopher Hagan sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $97.53, for a total value of $136,542.00. Following the completion of the transaction, the insider now directly owns 13,345 shares in the company, valued at approximately $1,301,537.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.80% of the company’s stock.

Hedge Funds Weigh In On AMN Healthcare Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd acquired a new position in AMN Healthcare Services in the 4th quarter valued at approximately $48,000. Quadrant Capital Group LLC increased its position in shares of AMN Healthcare Services by 53.3% during the first quarter. Quadrant Capital Group LLC now owns 391 shares of the company’s stock worth $41,000 after buying an additional 136 shares during the period. HBC Financial Services PLLC acquired a new stake in shares of AMN Healthcare Services during the first quarter worth $41,000. CWM LLC acquired a new stake in shares of AMN Healthcare Services during the fourth quarter worth $57,000. Finally, Archer Investment Corp acquired a new stake in shares of AMN Healthcare Services during the first quarter worth $52,000. 94.70% of the stock is currently owned by institutional investors and hedge funds.

About AMN Healthcare Services

(Get Rating)

AMN Healthcare Services, Inc provides healthcare workforce solutions and staffing services to hospitals and 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, rapid response nurse staffing and labor disruption, allied staffing, local staffing, and revenue cycle solutions.

Further Reading

Analyst Recommendations for AMN Healthcare Services (NYSE:AMN)

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