AMN Healthcare Services (NYSE:AMN) Trading Down 6.6% – Time to Sell?

AMN Healthcare Services Inc (NYSE:AMN) shares were down 6.6% during trading on Tuesday . The company traded as low as $34.35 and last traded at $34.1950. 85,493 shares changed hands during trading, a decline of 92% from the average session volume of 1,134,370 shares. The stock had previously closed at $36.60.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on AMN shares. Citigroup reaffirmed a “market outperform” rating on shares of AMN Healthcare Services in a research report on Tuesday, June 23rd. Wall Street Zen upgraded AMN Healthcare Services from a “buy” rating to a “strong-buy” rating in a research note on Sunday. Citizens Jmp reaffirmed a “market outperform” rating and set a $36.00 price objective on shares of AMN Healthcare Services in a report on Tuesday, June 23rd. Robert W. Baird set a $36.00 target price on shares of AMN Healthcare Services in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded shares of AMN Healthcare Services from a “sell (d-)” rating to a “sell (d+)” rating in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.86.

AMN Healthcare Services Stock Down 2.3%

The stock has a 50-day moving average of $32.75 and a 200 day moving average of $25.44. The company has a market capitalization of $1.25 billion, a PE ratio of 12.07, a P/E/G ratio of 1.22 and a beta of 0.40. The company has a quick ratio of 1.09, a current ratio of 1.13 and a debt-to-equity ratio of 1.00.

AMN Healthcare Services (NYSE:AMN) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.58. AMN Healthcare Services had a return on equity of 19.92% and a net margin of 3.06%.The firm had revenue of $673.24 million during the quarter, compared to the consensus estimate of $628.39 million. During the same quarter in the prior year, the company earned $0.30 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that AMN Healthcare Services Inc will post 3.1 EPS for the current year.

Insider Buying and Selling

In other news, Director Mark G. Foletta sold 3,681 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 17,917 shares of the company’s stock, valued at $556,681.19. This trade represents a 17.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.07% of the company’s stock.

Institutional Investors Weigh In On AMN Healthcare Services

Large investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of AMN Healthcare Services in the second quarter worth approximately $6,047,000. Globeflex Capital L P bought a new position in AMN Healthcare Services in the second quarter valued at $282,000. Ieq Capital LLC purchased a new stake in AMN Healthcare Services during the second quarter valued at about $2,036,000. Allworth Financial LP purchased a new position in shares of AMN Healthcare Services in the 2nd quarter worth about $65,000. Finally, Great Lakes Advisors LLC bought a new position in shares of AMN Healthcare Services during the 2nd quarter valued at about $2,191,000. Institutional investors 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.