AMN Healthcare Services (NYSE:AMN) Cut to Underperform at Bank of America

Bank of America downgraded shares of AMN Healthcare Services (NYSE:AMN - Free Report) from a neutral rating to an underperform rating in a research report report published on Monday morning, MarketBeat Ratings reports. They currently have $48.00 target price on the stock, down from their previous target price of $65.00.

Several other equities research analysts have also recently issued reports on AMN. BMO Capital Markets lifted their price objective on AMN Healthcare Services from $60.00 to $71.00 and gave the stock an outperform rating in a report on Monday, August 12th. Benchmark reissued a hold rating on shares of AMN Healthcare Services in a research note on Wednesday, October 2nd. JMP Securities reaffirmed a market outperform rating and set a $66.00 target price on shares of AMN Healthcare Services in a research note on Friday. StockNews.com cut shares of AMN Healthcare Services from a hold rating to a sell rating in a research report on Wednesday, July 31st. Finally, UBS Group lowered their price target on shares of AMN Healthcare Services from $66.00 to $65.00 and set a neutral rating on the stock in a research report on Friday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, AMN Healthcare Services has an average rating of Hold and a consensus target price of $65.00.

AMN Healthcare Services Stock Performance

AMN traded up $0.32 during midday trading on Monday, hitting $38.64. 940,221 shares of the company were exchanged, compared to its average volume of 798,124. The company's 50 day simple moving average is $50.36 and its 200 day simple moving average is $54.29. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 10.39 and a beta of 0.11. AMN Healthcare Services has a 1-year low of $36.50 and a 1-year high of $80.79. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.36.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.22. The firm had revenue of $740.69 million during the quarter, compared to analyst estimates of $740.43 million. AMN Healthcare Services had a net margin of 3.07% and a return on equity of 23.68%. The business's quarterly revenue was down 25.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.38 EPS. As a group, sell-side analysts predict that AMN Healthcare Services will post 3.26 earnings per share for the current year.

Institutional Trading of AMN Healthcare Services

Institutional investors have recently made changes to their positions in the company. Mather Group LLC. purchased a new stake in AMN Healthcare Services in the 2nd quarter valued at about $31,000. Nisa Investment Advisors LLC lifted its holdings in shares of AMN Healthcare Services by 41.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 748 shares of the company's stock worth $38,000 after acquiring an additional 219 shares during the last quarter. Quarry LP lifted its holdings in shares of AMN Healthcare Services by 64.8% in the 4th quarter. Quarry LP now owns 519 shares of the company's stock worth $39,000 after acquiring an additional 204 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of AMN Healthcare Services during the 1st quarter worth approximately $58,000. Finally, GAMMA Investing LLC increased its holdings in AMN Healthcare Services by 232.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,160 shares of the company's stock valued at $59,000 after purchasing an additional 811 shares during the last quarter. Hedge funds and other institutional investors own 99.23% of the company's stock.

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.