AMN Healthcare Services (NYSE:AMN) Sets New 1-Year High – Time to Buy?

Shares of AMN Healthcare Services Inc (NYSE:AMN) reached a new 52-week high on Friday . The stock traded as high as $31.76 and last traded at $31.7890, with a volume of 927497 shares changing hands. The stock had previously closed at $30.61.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on AMN shares. Citizens Jmp raised their target price on AMN Healthcare Services from $22.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Monday, February 23rd. Robert W. Baird upped their price target on AMN Healthcare Services from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Truist Financial increased their price objective on AMN Healthcare Services from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Wall Street Zen raised AMN Healthcare Services from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Finally, UBS Group boosted their target price on shares of AMN Healthcare Services from $19.50 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.29.

AMN Healthcare Services Stock Performance

The stock has a 50-day moving average of $23.29 and a 200 day moving average of $19.84. The firm has a market capitalization of $1.23 billion, a P/E ratio of -36.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.44. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.09 and a current ratio of 1.09.

AMN Healthcare Services (NYSE:AMN) last posted its quarterly earnings data on Thursday, May 7th. The company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.50. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.23 billion. AMN Healthcare Services had a positive return on equity of 18.01% and a negative net margin of 0.95%.The business’s revenue was up 99.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, research analysts anticipate that AMN Healthcare Services Inc will post 2.7 earnings per share for the current year.

Institutional Investors Weigh In On AMN Healthcare Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMN. Segall Bryant & Hamill LLC bought a new position in shares of AMN Healthcare Services in the first quarter worth about $382,000. Bank of America Corp DE raised its position in AMN Healthcare Services by 9.0% in the 1st quarter. Bank of America Corp DE now owns 587,369 shares of the company’s stock worth $10,772,000 after purchasing an additional 48,501 shares during the last quarter. Amundi acquired a new position in AMN Healthcare Services during the 1st quarter worth $350,000. California State Teachers Retirement System boosted its position in AMN Healthcare Services by 27.1% in the 1st quarter. California State Teachers Retirement System now owns 44,638 shares of the company’s stock valued at $819,000 after buying an additional 9,519 shares during the last quarter. Finally, Readystate Asset Management LP increased its stake in shares of AMN Healthcare Services by 127.5% in the 1st quarter. Readystate Asset Management LP now owns 79,115 shares of the company’s stock valued at $1,451,000 after buying an additional 44,337 shares during the period. Institutional investors and hedge funds own 99.23% of the company’s stock.

AMN Healthcare Services Company Profile

AMN Healthcare Services, Inc (NYSE: AMN) is a leading provider of healthcare workforce solutions in the United States. The company specializes in staffing and recruitment services for a broad range of clinical and allied health professionals, including travel nurses, permanent placement of nursing staff, locum tenens physicians, and allied health personnel. In addition to direct staffing, AMN Healthcare offers comprehensive workforce management solutions such as vendor management systems (VMS), recruitment process outsourcing (RPO), and compliance and credentialing services through its technology platforms.

Founded in 1985 as American Mobile Nurses, the company rebranded to AMN Healthcare in 2010 to reflect its expanding portfolio of services.