AMN Healthcare Services (NYSE:AMN) Stock Price Up 7.3% – Here’s What Happened

AMN Healthcare Services Inc (NYSE:AMN)’s stock price traded up 7.3% during mid-day trading on Monday . The company traded as high as $34.76 and last traded at $34.72. Approximately 135,936 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 1,189,363 shares. The stock had previously closed at $32.37.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Weiss Ratings raised AMN Healthcare Services from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, June 17th. Wall Street Zen raised shares of AMN Healthcare Services from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 16th. Citigroup reiterated a “market outperform” rating on shares of AMN Healthcare Services in a research note on Tuesday, June 23rd. Citizens Jmp reissued a “market outperform” rating and issued a $36.00 price objective on shares of AMN Healthcare Services in a research report on Tuesday, June 23rd. Finally, UBS Group increased their price objective on shares of AMN Healthcare Services from $19.50 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, AMN Healthcare Services presently has an average rating of “Hold” and an average target price of $27.00.

AMN Healthcare Services Price Performance

The stock has a fifty day simple moving average of $29.84 and a 200-day simple moving average of $22.71. The company has a market capitalization of $1.34 billion, a PE ratio of -39.68, a P/E/G ratio of 0.74 and a beta of 0.41. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.04.

AMN Healthcare Services (NYSE:AMN) last released its quarterly earnings data on Thursday, May 7th. The company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.50. The business had revenue of $1.38 billion for 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 business’s revenue for the quarter was up 99.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.45 EPS. Equities analysts anticipate that AMN Healthcare Services Inc will post 2.7 earnings per share for the current year.

Insider Activity

In related news, Director Mark G. Foletta sold 3,681 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $31.07, for a total value of $114,368.67. Following the completion of the sale, the director directly owned 17,917 shares of the company’s stock, valued at $556,681.19. This represents a 17.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in AMN. Lighthouse Investment Partners LLC boosted its holdings in shares of AMN Healthcare Services by 1,557.4% in the third quarter. Lighthouse Investment Partners LLC now owns 262,857 shares of the company’s stock valued at $5,089,000 after acquiring an additional 246,997 shares during the period. Algert Global LLC increased its holdings in shares of AMN Healthcare Services by 10.5% in the 3rd quarter. Algert Global LLC now owns 576,651 shares of the company’s stock valued at $11,164,000 after acquiring an additional 54,673 shares during the period. Thompson Investment Management Inc. increased its holdings in shares of AMN Healthcare Services by 24.3% in the 4th quarter. Thompson Investment Management Inc. now owns 443,113 shares of the company’s stock valued at $6,983,000 after acquiring an additional 86,579 shares during the period. FourThought Financial Partners LLC purchased a new stake in AMN Healthcare Services in the 4th quarter valued at $293,000. Finally, Nordea Investment Management AB raised its position in AMN Healthcare Services by 15.0% in the 4th quarter. Nordea Investment Management AB now owns 215,493 shares of the company’s stock valued at $3,407,000 after purchasing an additional 28,136 shares during the last quarter. 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.