AMN Healthcare Services (NYSE:AMN) Reaches New 1-Year Low Following Analyst Downgrade

AMN Healthcare Services, Inc. (NYSE:AMN - Get Free Report) hit a new 52-week low during trading on Friday after Truist Financial lowered their price target on the stock from $50.00 to $47.00. Truist Financial currently has a buy rating on the stock. AMN Healthcare Services traded as low as $29.26 and last traded at $29.41, with a volume of 174660 shares changing hands. The stock had previously closed at $40.92.

AMN has been the subject of a number of other reports. Bank of America downgraded AMN Healthcare Services from a "neutral" rating to an "underperform" rating and cut their target price for the company from $65.00 to $48.00 in a research report on Monday, October 7th. UBS Group decreased their price target on AMN Healthcare Services from $66.00 to $65.00 and set a "neutral" rating on the stock in a research note on Friday, August 9th. StockNews.com downgraded AMN Healthcare Services from a "hold" rating to a "sell" rating in a research report on Wednesday, July 31st. JMP Securities decreased their target price on AMN Healthcare Services from $66.00 to $57.00 and set a "market outperform" rating on the stock in a research report on Tuesday, October 22nd. Finally, Benchmark reissued a "hold" rating on shares of AMN Healthcare Services in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $57.60.

Insiders Place Their Bets

In other AMN Healthcare Services news, CFO Jeffrey R. Knudson sold 2,461 shares of AMN Healthcare Services stock in a transaction on Saturday, November 2nd. The shares were sold at an average price of $36.90, for a total value of $90,810.90. Following the completion of the sale, the chief financial officer now directly owns 37,550 shares of the company's stock, valued at approximately $1,385,595. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.93% of the company's stock.

Institutional Investors Weigh In On AMN Healthcare Services

A number of hedge funds have recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new position in shares of AMN Healthcare Services in the second quarter valued at $99,349,000. Thrivent Financial for Lutherans raised its holdings in shares of AMN Healthcare Services by 3,753.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,263,326 shares of the company's stock worth $64,721,000 after acquiring an additional 1,230,543 shares during the last quarter. Swedbank AB bought a new position in AMN Healthcare Services in the 1st quarter valued at about $70,617,000. Vaughan Nelson Investment Management L.P. acquired a new position in AMN Healthcare Services during the 2nd quarter valued at about $45,481,000. Finally, American Century Companies Inc. increased its holdings in AMN Healthcare Services by 95.3% during the 2nd quarter. American Century Companies Inc. now owns 775,139 shares of the company's stock worth $39,710,000 after purchasing an additional 378,266 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company's stock.

AMN Healthcare Services Trading Down 29.0 %

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.36. The firm has a 50 day moving average price of $42.61 and a 200 day moving average price of $51.23. The stock has a market capitalization of $1.10 billion, a PE ratio of 11.36 and a beta of 0.13.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.22. AMN Healthcare Services had a net margin of 3.07% and a return on equity of 23.68%. The firm had revenue of $740.69 million for the quarter, compared to the consensus estimate of $740.43 million. During the same period in the previous year, the firm earned $2.38 EPS. The business's revenue for the quarter was down 25.3% compared to the same quarter last year. Equities analysts expect that AMN Healthcare Services, Inc. will post 3.15 EPS for the current fiscal year.

AMN Healthcare Services Company Profile

AMN Healthcare Services, Inc provides healthcare workforce solutions and staffing services to healthcare facilities in the United States. It operates through three segments: Nurse and Allied Solutions, Physician and Leadership Solutions, and Technology and Workforce Solutions. The Nurse and Allied Solutions segment offers travel nurse staffing, labor disruption staffing, local staffing, international nurse and allied permanent placement, and allied staffing solutions.