AMN Healthcare Services (NYSE:AMN) Shares Down 6% – Here’s Why

AMN Healthcare Services, Inc. (NYSE:AMN)’s share price was down 6% during trading on Tuesday . The stock traded as low as $25.86 and last traded at $25.94. Approximately 163,857 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 623,014 shares. The stock had previously closed at $27.61.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMN shares. Bank of America lowered AMN Healthcare Services from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $65.00 to $48.00 in a research note on Monday, October 7th. William Blair downgraded AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Truist Financial cut their price objective on AMN Healthcare Services from $50.00 to $47.00 and set a “buy” rating on the stock in a report on Friday, November 8th. JMP Securities cut their price objective on 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. Finally, Jefferies Financial Group cut their price objective on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $48.33.

AMN Healthcare Services Trading Down 9.5 %

The company has a 50-day moving average price of $26.55 and a 200-day moving average price of $41.03. The firm has a market capitalization of $951.47 million, a price-to-earnings ratio of 18.11 and a beta of 0.05. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.18 and a current ratio of 1.18.

AMN Healthcare Services (NYSE:AMN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.03. The business had revenue of $687.51 million during the quarter, compared to analysts’ expectations of $670.08 million. AMN Healthcare Services had a return on equity of 17.16% and a net margin of 1.73%. During the same period in the prior year, the firm posted $1.97 EPS. As a group, research analysts forecast that AMN Healthcare Services, Inc. will post 3.07 EPS for the current fiscal year.

Insider Transactions at AMN Healthcare Services

In related news, CFO Jeffrey R. Knudson sold 2,461 shares of the company’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 completion of the sale, the chief financial officer now directly owns 37,550 shares of the company’s stock, valued at $1,385,595. This represents a 6.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.93% of the company’s stock.

Institutional Trading of AMN Healthcare Services

Large investors have recently made changes to their positions in the company. Truvestments Capital LLC acquired a new stake in shares of AMN Healthcare Services in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC boosted its position in shares of AMN Healthcare Services by 455.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,493 shares of the company’s stock valued at $63,000 after purchasing an additional 1,224 shares during the period. Quarry LP boosted its position in shares of AMN Healthcare Services by 48.4% in the 3rd quarter. Quarry LP now owns 2,006 shares of the company’s stock valued at $85,000 after purchasing an additional 654 shares during the period. GAMMA Investing LLC boosted its position in shares of AMN Healthcare Services by 189.6% in the 4th quarter. GAMMA Investing LLC now owns 3,018 shares of the company’s stock valued at $72,000 after purchasing an additional 1,976 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new stake in AMN Healthcare Services during the 3rd quarter worth approximately $151,000. 99.23% of the stock is owned by institutional investors and hedge funds.

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.