AMN Healthcare Services (NYSE:AMN) Reaches New 1-Year Low - Here's What Happened

AMN Healthcare Services, Inc. (NYSE:AMN - Get Free Report) hit a new 52-week low during trading on Wednesday . The company traded as low as $23.26 and last traded at $23.48, with a volume of 692699 shares trading hands. The stock had previously closed at $24.47.

Wall Street Analysts Forecast Growth

AMN has been the topic of several analyst reports. JMP Securities lowered their price target on shares of AMN Healthcare Services from $66.00 to $57.00 and set a "market outperform" rating on the stock in a report on Tuesday, October 22nd. Bank of America cut shares of AMN Healthcare Services from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $65.00 to $48.00 in a research note on Monday, October 7th. Jefferies Financial Group cut their price target on shares of AMN Healthcare Services from $41.00 to $27.00 and set a "hold" rating for the company in a research note on Wednesday, November 13th. Truist Financial lowered their price objective on AMN Healthcare Services from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Friday, November 8th. Finally, Benchmark restated a "hold" rating on shares of AMN Healthcare Services in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, AMN Healthcare Services presently has an average rating of "Hold" and a consensus price target of $48.33.

AMN Healthcare Services Price Performance

The stock has a fifty day moving average of $32.24 and a two-hundred day moving average of $44.89. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.27. The stock has a market capitalization of $895.50 million, a price-to-earnings ratio of 17.04 and a beta of 0.04.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.03. AMN Healthcare Services had a return on equity of 17.16% and a net margin of 1.73%. The company had revenue of $687.51 million during the quarter, compared to analyst estimates of $670.08 million. During the same period last year, the company posted $1.97 earnings per share. As a group, equities research analysts forecast that AMN Healthcare Services, Inc. will post 3.07 earnings per share for the current year.

Insider Activity

In related news, CFO Jeffrey R. Knudson sold 2,461 shares of the firm's stock in a transaction dated Saturday, November 2nd. The stock was sold at an average price of $36.90, for a total value of $90,810.90. Following the transaction, the chief financial officer now owns 37,550 shares in the company, valued at $1,385,595. This trade represents a 6.15 % 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. 0.93% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in shares of AMN Healthcare Services by 41.4% during the second quarter. Nisa Investment Advisors LLC now owns 748 shares of the company's stock worth $38,000 after buying an additional 219 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of AMN Healthcare Services by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 10,606 shares of the company's stock valued at $543,000 after purchasing an additional 221 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of AMN Healthcare Services by 3.9% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,730 shares of the company's stock worth $345,000 after purchasing an additional 252 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of AMN Healthcare Services by 4.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 7,024 shares of the company's stock worth $360,000 after purchasing an additional 278 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of AMN Healthcare Services by 5.3% during the third quarter. Exchange Traded Concepts LLC now owns 6,708 shares of the company's stock worth $284,000 after purchasing an additional 337 shares during the period. 99.23% of the stock is currently owned by institutional investors and hedge funds.

About AMN Healthcare Services

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.

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