AMN Healthcare Services (NYSE:AMN) Trading Down 7% After Analyst Downgrade

AMN Healthcare Services, Inc. (NYSE:AMN)’s stock price traded down 7% during mid-day trading on Monday after BMO Capital Markets lowered their price target on the stock from $50.00 to $46.00. BMO Capital Markets currently has an outperform rating on the stock. AMN Healthcare Services traded as low as $26.77 and last traded at $27.03. 797,031 shares traded hands during trading, a decline of 2% from the average session volume of 814,452 shares. The stock had previously closed at $29.05.

A number of other analysts have also issued reports on AMN. StockNews.com lowered AMN Healthcare Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Truist Financial decreased 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. JMP Securities decreased their price objective on AMN Healthcare Services from $66.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Tuesday, October 22nd. UBS Group decreased their price objective 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. Finally, Bank of America lowered AMN Healthcare Services from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $65.00 to $48.00 in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $52.60.

Insiders Place Their Bets

In related news, CFO Jeffrey R. Knudson sold 2,461 shares of AMN Healthcare Services stock in a transaction on Saturday, November 2nd. The stock was sold at an average price of $36.90, for a total transaction of $90,810.90. Following the transaction, the chief financial officer now directly owns 37,550 shares in the company, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Institutional Investors Weigh In On AMN Healthcare Services

Several large investors have recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. purchased a new position in shares of AMN Healthcare Services during the second quarter valued at approximately $45,481,000. New South Capital Management Inc. boosted its position in shares of AMN Healthcare Services by 24.6% during the second quarter. New South Capital Management Inc. now owns 563,147 shares of the company’s stock valued at $28,850,000 after buying an additional 111,302 shares during the period. Quadrature Capital Ltd boosted its position in shares of AMN Healthcare Services by 366.6% during the first quarter. Quadrature Capital Ltd now owns 23,246 shares of the company’s stock valued at $1,455,000 after buying an additional 18,264 shares during the period. Virtu Financial LLC purchased a new position in shares of AMN Healthcare Services during the first quarter valued at approximately $878,000. Finally, Connors Investor Services Inc. boosted its position in shares of AMN Healthcare Services by 88.0% during the first quarter. Connors Investor Services Inc. now owns 47,966 shares of the company’s stock valued at $2,998,000 after buying an additional 22,447 shares during the period. 99.23% of the stock is owned by institutional investors.

AMN Healthcare Services Stock Down 4.3 %

The company has a 50-day simple moving average of $42.13 and a 200-day simple moving average of $50.96. The firm has a market cap of $1.06 billion, a PE ratio of 20.15 and a beta of 0.13. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.23 and a quick ratio of 1.23.

AMN Healthcare Services (NYSE:AMN) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The firm had revenue of $687.51 million during the quarter, compared to analyst estimates of $670.08 million. AMN Healthcare Services had a return on equity of 17.35% and a net margin of 1.73%. During the same quarter in the previous year, the business earned $1.97 earnings per share. Analysts expect that AMN Healthcare Services, Inc. will post 3.13 earnings per share for the current fiscal year.

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.