AMN Healthcare Services (NYSE:AMN) Shares Gap Up Following Strong Earnings

AMN Healthcare Services, Inc. (NYSE:AMN) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $25.84, but opened at $28.63. AMN Healthcare Services shares last traded at $28.03, with a volume of 379,888 shares traded.

The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.23. AMN Healthcare Services had a return on equity of 17.16% and a net margin of 1.73%. The firm had revenue of $734.71 million during the quarter, compared to the consensus estimate of $694.38 million.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMN. Truist Financial decreased their price target on AMN Healthcare Services from $47.00 to $40.00 and set a “buy” rating for the company in a report on Friday. William Blair downgraded AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a report on Friday, November 8th. Jefferies Financial Group reduced their target price on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating for the company in a research note on Wednesday, November 13th. JMP Securities restated a “market outperform” rating and issued a $34.00 target price on shares of AMN Healthcare Services in a research note on Thursday, February 6th. Finally, BMO Capital Markets reduced their target price on AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, AMN Healthcare Services presently has an average rating of “Hold” and an average price target of $43.33.

Institutional Trading of AMN Healthcare Services

Several large investors have recently made changes to their positions in the company. Public Employees Retirement System of Ohio bought a new position in AMN Healthcare Services in the 4th quarter valued at about $1,609,000. PharVision Advisers LLC bought a new position in AMN Healthcare Services in the 4th quarter valued at about $570,000. White Knight Strategic Wealth Advisors LLC lifted its position in AMN Healthcare Services by 60.9% in the 4th quarter. White Knight Strategic Wealth Advisors LLC now owns 25,650 shares of the company’s stock valued at $614,000 after acquiring an additional 9,710 shares in the last quarter. Voloridge Investment Management LLC bought a new position in AMN Healthcare Services in the 4th quarter valued at about $12,685,000. Finally, Squarepoint Ops LLC bought a new position in AMN Healthcare Services in the 4th quarter valued at about $238,000. 99.23% of the stock is currently owned by institutional investors and hedge funds.

AMN Healthcare Services Stock Performance

The firm has a market cap of $1.05 billion, a P/E ratio of 19.93 and a beta of 0.07. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.27. The company’s 50-day moving average is $25.40 and its two-hundred day moving average is $35.15.

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.