AMN Healthcare Services (NYSE:AMN) Reaches New 1-Year High – Should You Buy?

AMN Healthcare Services Inc (NYSE:AMN) reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $49.62 and last traded at $47.69, with a volume of 78,961 shares traded. The stock had previously closed at $49.00.

Analyst Ratings Changes

A number of research analysts recently issued reports on AMN shares. Wall Street Zen cut shares of AMN Healthcare Services from a “buy” rating to a “hold” rating in a research note on Tuesday, August 25th. BMO Capital Markets upped their target price 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. Weiss Ratings raised AMN Healthcare Services from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, September 18th. Robert W. Baird set a $36.00 target price on AMN Healthcare Services in a report on Friday, August 7th. Finally, Citigroup reiterated an “outperform” rating on shares of AMN Healthcare Services in a research note on Friday, August 14th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $36.50.

AMN Healthcare Services Trading Down 0.4%

The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.65 and a beta of 0.40. The business has a fifty day simple moving average of $36.72 and a 200-day simple moving average of $28.11.

AMN Healthcare Services (NYSE:AMN) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.58. The firm had revenue of $673.24 million for the quarter, compared to analyst estimates of $628.39 million. AMN Healthcare Services had a return on equity of 19.92% and a net margin of 3.06%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. As a group, equities analysts forecast that AMN Healthcare Services Inc will post 3.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMN Healthcare Services

Several hedge funds have recently added to or reduced their stakes in AMN. BlackRock Inc. bought a new position in shares of AMN Healthcare Services during the second quarter worth about $215,047,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of AMN Healthcare Services by 1,278.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,401,725 shares of the company’s stock worth $25,708,000 after acquiring an additional 1,300,005 shares during the period. Renaissance Technologies LLC lifted its stake in shares of AMN Healthcare Services by 50.7% in the first quarter. Renaissance Technologies LLC now owns 1,376,341 shares of the company’s stock worth $25,242,000 after acquiring an additional 463,100 shares during the period. Bank of America Corp DE bought a new stake in AMN Healthcare Services in the second quarter valued at approximately $16,726,000. Finally, Bank of New York Mellon Corp bought a new stake in AMN Healthcare Services in the second quarter valued at approximately $7,958,000. 99.23% of the stock is currently owned by institutional investors and hedge funds.

AMN Healthcare Services Company Profile

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.