AMN Healthcare Services (NYSE:AMN) Stock Jumps 8.3% – Should You Buy?

AMN Healthcare Services Inc (NYSE:AMN) shares rose 8.3% on Thursday. The company traded as high as $46.39 and last traded at $46.5790. Approximately 802,888 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 1,025,611 shares. The stock had previously closed at $43.01.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMN. Wall Street Zen cut AMN Healthcare Services from a “buy” rating to a “hold” rating in a report on Tuesday, August 25th. Citigroup reissued an “outperform” rating on shares of AMN Healthcare Services in a report on Friday, August 14th. Truist Financial raised their price target on AMN Healthcare Services from $26.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. BMO Capital Markets lifted their price target on AMN Healthcare Services from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, October 9th. Finally, UBS Group boosted their price objective on shares of AMN Healthcare Services from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, AMN Healthcare Services presently has an average rating of “Moderate Buy” and a consensus price target of $36.50.

AMN Healthcare Services Stock Performance

The stock’s fifty day simple moving average is $35.93 and its two-hundred day simple moving average is $31.38. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.61 and a beta of 0.40. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.13 and a current ratio of 1.13.

AMN Healthcare Services (NYSE:AMN) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.58. The company had revenue of $673.24 million for the quarter, compared to analysts’ expectations of $628.39 million. AMN Healthcare Services had a return on equity of 19.92% and a net margin of 3.06%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Equities research analysts anticipate that AMN Healthcare Services Inc will post 3.32 EPS for the current year.

Institutional Investors Weigh In On AMN Healthcare Services

A number of hedge funds have recently bought and sold shares of AMN. Nisa Investment Advisors LLC grew its position in shares of AMN Healthcare Services by 40.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,407 shares of the company’s stock worth $194,000 after buying an additional 1,555 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of AMN Healthcare Services in the third quarter worth $2,050,000. Argent Capital Management LLC acquired a new stake in AMN Healthcare Services in the third quarter valued at $690,000. Tidal Investments LLC acquired a new stake in AMN Healthcare Services in the second quarter valued at $2,301,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in AMN Healthcare Services in the second quarter valued at $49,000. Institutional investors and hedge funds own 99.23% of the company’s stock.

About AMN Healthcare Services

AMN Healthcare Services, Inc is a healthcare workforce solutions and technology company that helps hospitals, health systems, medical practices and other healthcare organizations recruit, deploy and manage clinical and nonclinical personnel. The company operates through a portfolio of staffing, workforce management and language-services businesses.

Its services include temporary and permanent placement of registered nurses, allied healthcare professionals and physicians, as well as locum tenens staffing for doctors and advanced practice professionals.