Truist Financial Has Lowered Expectations for AMN Healthcare Services (NYSE:AMN) Stock Price

AMN Healthcare Services (NYSE:AMN) had its target price reduced by investment analysts at Truist Financial from $50.00 to $47.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 44.70% from the company’s current price.

Several other equities research analysts also recently commented on the company. William Blair downgraded AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a report on Friday. JMP Securities dropped 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. Bank of America downgraded AMN Healthcare Services from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $65.00 to $48.00 in a report on Monday, October 7th. UBS Group dropped their price objective on AMN Healthcare Services from $66.00 to $65.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, StockNews.com downgraded AMN Healthcare Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $57.60.

AMN Healthcare Services Stock Performance

Shares of NYSE:AMN opened at $32.48 on Friday. The company has a market cap of $1.23 billion, a P/E ratio of 12.54 and a beta of 0.13. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.23 and a current ratio of 1.23. AMN Healthcare Services has a one year low of $31.82 and a one year high of $80.22. The business’s 50-day simple moving average is $42.61 and its 200 day simple moving average is $51.23.

AMN Healthcare Services (NYSE:AMN) last announced its earnings results on Thursday, August 8th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.76 by $0.22. The business had revenue of $740.69 million for the quarter, compared to the consensus estimate of $740.43 million. AMN Healthcare Services had a return on equity of 23.68% and a net margin of 3.07%. The company’s revenue was down 25.3% on a year-over-year basis. During the same period last year, the business posted $2.38 EPS. On average, sell-side analysts forecast that AMN Healthcare Services will post 3.15 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Jeffrey R. Knudson sold 2,461 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,385,595. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in AMN Healthcare Services by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,289,179 shares of the company’s stock valued at $268,117,000 after purchasing an additional 37,676 shares during the period. Pacer Advisors Inc. acquired a new position in AMN Healthcare Services during the 2nd quarter valued at approximately $99,349,000. Thrivent Financial for Lutherans boosted its position in AMN Healthcare Services by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,293,483 shares of the company’s stock valued at $54,831,000 after purchasing an additional 30,157 shares during the period. Swedbank AB acquired a new position in AMN Healthcare Services during the 1st quarter valued at approximately $70,617,000. Finally, Vaughan Nelson Investment Management L.P. boosted its position in AMN Healthcare Services by 23.6% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,096,965 shares of the company’s stock valued at $46,499,000 after purchasing an additional 209,180 shares during the period. Institutional investors and hedge funds own 99.23% of the company’s stock.

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.