AMN Healthcare Services (NYSE:AMN) Price Target Cut to $57.00

AMN Healthcare Services (NYSE:AMN) had its price target lowered by stock analysts at JMP Securities from $66.00 to $57.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. JMP Securities’ price objective suggests a potential upside of 45.85% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. StockNews.com cut shares of AMN Healthcare Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. UBS Group reduced their target price on shares of AMN Healthcare Services from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Truist Financial reduced their target price on shares of AMN Healthcare Services from $70.00 to $50.00 and set a “buy” rating on the stock in a report on Monday. Benchmark restated a “hold” rating on shares of AMN Healthcare Services in a report on Wednesday, October 2nd. Finally, Bank of America lowered shares of AMN Healthcare Services from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $65.00 to $48.00 in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $60.17.

AMN Healthcare Services Stock Performance

NYSE:AMN opened at $39.08 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 1.36. AMN Healthcare Services has a fifty-two week low of $36.50 and a fifty-two week high of $80.22. The stock has a market cap of $1.48 billion, a PE ratio of 10.51 and a beta of 0.11. The firm’s fifty day simple moving average is $45.89 and its 200-day simple moving average is $52.80.

AMN Healthcare Services (NYSE:AMN) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.22. AMN Healthcare Services had a net margin of 3.07% and a return on equity of 23.68%. The business had revenue of $740.69 million for the quarter, compared to analysts’ expectations of $740.43 million. During the same period in the prior year, the company posted $2.38 EPS. The business’s revenue for the quarter was down 25.3% on a year-over-year basis. Analysts expect that AMN Healthcare Services will post 3.21 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its holdings in shares of AMN Healthcare Services by 41.4% during 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 period. Arizona State Retirement System lifted its holdings in shares of AMN Healthcare Services by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 10,606 shares of the company’s stock worth $543,000 after acquiring an additional 221 shares during the period. Pitcairn Co. lifted its holdings in shares of AMN Healthcare Services by 4.2% during the 1st quarter. Pitcairn Co. now owns 6,138 shares of the company’s stock worth $384,000 after acquiring an additional 249 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of AMN Healthcare Services by 3.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,730 shares of the company’s stock worth $345,000 after acquiring an additional 252 shares during the period. Finally, SummerHaven Investment Management LLC lifted its holdings in shares of AMN Healthcare Services by 4.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 7,024 shares of the company’s stock worth $360,000 after acquiring an additional 278 shares during the period. 99.23% of the stock is currently owned by hedge funds and other institutional investors.

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.