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

AMN Healthcare Services, Inc. (NYSE:AMN) shares gapped up before the market opened on Friday following a stronger than expected earnings report. 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 changing hands.

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. BMO Capital Markets decreased their price objective on shares of 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. JMP Securities reaffirmed a “market outperform” rating and set a $34.00 target price on shares of AMN Healthcare Services in a report on Thursday, February 6th. Jefferies Financial Group cut their target price on shares of AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. William Blair lowered shares of AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Finally, Truist Financial dropped their target price on shares of AMN Healthcare Services from $50.00 to $47.00 and set a “buy” rating for the company in a report on Friday, November 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $44.50.

Institutional Trading of AMN Healthcare Services

A number of large investors have recently made changes to their positions in AMN. CWC Advisors LLC. purchased a new stake in shares of AMN Healthcare Services during the third quarter worth approximately $254,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of AMN Healthcare Services during the third quarter worth approximately $151,000. Farther Finance Advisors LLC increased its stake in shares of 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 buying an additional 1,224 shares during the period. VELA Investment Management LLC increased its stake in shares of AMN Healthcare Services by 142.4% during the third quarter. VELA Investment Management LLC now owns 29,548 shares of the company’s stock worth $1,253,000 after buying an additional 17,358 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in AMN Healthcare Services by 13.4% in the third quarter. Janney Montgomery Scott LLC now owns 18,471 shares of the company’s stock valued at $783,000 after purchasing an additional 2,177 shares during the last quarter. 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 $1.07 billion, a PE ratio of 20.41 and a beta of 0.07. 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 company’s 50 day simple moving average is $25.40 and its 200 day simple moving average is $35.38.

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.