AMN Healthcare Services (NYSE:AMN) Reaches New 52-Week High – Here’s Why

AMN Healthcare Services Inc (NYSE:AMN) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $32.70 and last traded at $32.25, with a volume of 253619 shares traded. The stock had previously closed at $31.88.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. UBS Group increased their price objective on AMN Healthcare Services from $19.50 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Citizens Jmp upped their price target on shares of AMN Healthcare Services from $22.00 to $24.00 and gave the company a “market outperform” rating in a research report on Monday, February 23rd. Citigroup reiterated an “outperform” rating on shares of AMN Healthcare Services in a research note on Monday, February 23rd. Weiss Ratings upgraded shares of AMN Healthcare Services from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Finally, Zacks Research cut shares of AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 20th. Four research 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.29.

AMN Healthcare Services Stock Performance

The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.04. The stock has a fifty day moving average price of $25.76 and a 200-day moving average price of $20.87. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -35.65, a price-to-earnings-growth ratio of 0.74 and a beta of 0.44.

AMN Healthcare Services (NYSE:AMN) last issued its quarterly earnings results on Thursday, May 7th. The company reported $2.10 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.50. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share. On average, analysts expect that AMN Healthcare Services Inc will post 2.7 earnings per share for the current fiscal year.

Insider Buying and Selling at AMN Healthcare Services

In other news, Director Mark G. Foletta sold 3,681 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $31.07, for a total transaction of $114,368.67. Following the transaction, the director directly owned 17,917 shares in the company, valued at $556,681.19. The trade was a 17.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is currently owned by insiders.

Institutional Trading of AMN Healthcare Services

Institutional investors have recently modified their holdings of the business. Summit Securities Group LLC purchased a new position in AMN Healthcare Services in the fourth quarter worth $32,000. China Universal Asset Management Co. Ltd. boosted its position in shares of AMN Healthcare Services by 200.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,000 shares of the company’s stock worth $47,000 after purchasing an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of AMN Healthcare Services by 49.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company’s stock worth $64,000 after purchasing an additional 1,020 shares during the period. Johnson Financial Group Inc. purchased a new position in shares of AMN Healthcare Services in the 3rd quarter valued at about $63,000. Finally, Strs Ohio acquired a new stake in shares of AMN Healthcare Services in the first quarter valued at about $95,000. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

About AMN Healthcare Services

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.