ARGA Investment Management LP Purchases New Stake in AMN Healthcare Services Inc $AMN

ARGA Investment Management LP purchased a new stake in shares of AMN Healthcare Services Inc (NYSE:AMN) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 45,782 shares of the company’s stock, valued at approximately $886,000. ARGA Investment Management LP owned about 0.12% of AMN Healthcare Services at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of AMN Healthcare Services by 11.6% in the 2nd quarter. Bank of America Corp DE now owns 919,408 shares of the company’s stock worth $19,004,000 after acquiring an additional 95,720 shares in the last quarter. Geode Capital Management LLC lifted its position in AMN Healthcare Services by 3.4% during the second quarter. Geode Capital Management LLC now owns 909,204 shares of the company’s stock valued at $18,795,000 after buying an additional 30,155 shares during the period. Tributary Capital Management LLC grew its position in shares of AMN Healthcare Services by 91.3% in the 3rd quarter. Tributary Capital Management LLC now owns 831,910 shares of the company’s stock worth $16,106,000 after buying an additional 397,086 shares during the period. Federated Hermes Inc. increased its stake in shares of AMN Healthcare Services by 307.2% in the 2nd quarter. Federated Hermes Inc. now owns 651,409 shares of the company’s stock worth $13,465,000 after acquiring an additional 491,454 shares in the last quarter. Finally, CenterBook Partners LP increased its stake in shares of AMN Healthcare Services by 321.4% during the second quarter. CenterBook Partners LP now owns 639,863 shares of the company’s stock valued at $13,226,000 after purchasing an additional 488,029 shares in the last quarter. 99.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on AMN. Citigroup reissued a “market outperform” rating on shares of AMN Healthcare Services in a report on Friday, December 19th. Zacks Research raised AMN Healthcare Services from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 25th. JPMorgan Chase & Co. set a $25.00 price target on shares of AMN Healthcare Services in a research report on Thursday, January 15th. Citizens Jmp cut their target price on AMN Healthcare Services from $24.00 to $22.00 and set a “market outperform” rating for the company in a research report on Friday, December 19th. Finally, BMO Capital Markets lifted their price target on shares of AMN Healthcare Services from $22.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, January 15th. Five equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $22.36.

AMN Healthcare Services Price Performance

Shares of AMN opened at $20.47 on Friday. The company has a 50 day moving average of $16.65 and a two-hundred day moving average of $18.42. AMN Healthcare Services Inc has a twelve month low of $14.86 and a twelve month high of $30.49. The company has a market cap of $786.14 million, a price-to-earnings ratio of -2.85 and a beta of 0.20. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.31.

AMN Healthcare Services (NYSE:AMN) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.20. The firm had revenue of $634.50 million for the quarter, compared to analyst estimates of $618.08 million. AMN Healthcare Services had a negative net margin of 10.14% and a positive return on equity of 10.89%. The business’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. As a group, analysts predict that AMN Healthcare Services Inc will post 1.33 earnings per share for the current fiscal year.

AMN Healthcare Services Company Profile

AMN Healthcare Services, Inc (NYSE: AMN) is a leading provider of healthcare workforce solutions in the United States. The company specializes in staffing and recruitment services for a broad range of clinical and allied health professionals, including travel nurses, permanent placement of nursing staff, locum tenens physicians, and allied health personnel. In addition to direct staffing, AMN Healthcare offers comprehensive workforce management solutions such as vendor management systems (VMS), recruitment process outsourcing (RPO), and compliance and credentialing services through its technology platforms.

Founded in 1985 as American Mobile Nurses, the company rebranded to AMN Healthcare in 2010 to reflect its expanding portfolio of services.