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

Shares of AMN Healthcare Services, Inc. (NYSE:AMN) gapped up before the market opened on Friday following a better than expected earnings announcement. 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.

The company reported $0.75 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $734.71 million for the quarter, compared to analysts’ expectations of $694.38 million.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AMN shares. JMP Securities reissued a “market outperform” rating and set a $34.00 price objective on shares of AMN Healthcare Services in a research note on Thursday, February 6th. Truist Financial cut their target price on AMN Healthcare Services from $50.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. BMO Capital Markets cut their target price on AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Jefferies Financial Group cut their target price on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Finally, William Blair cut AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Versor Investments LP purchased a new position in AMN Healthcare Services during the 3rd quarter valued at about $818,000. Anthracite Investment Company Inc. purchased a new position in AMN Healthcare Services during the 3rd quarter valued at about $1,696,000. Harbor Capital Advisors Inc. increased its position in AMN Healthcare Services by 285.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 79,458 shares of the company’s stock valued at $1,901,000 after purchasing an additional 58,830 shares during the period. Equitable Trust Co. increased its position in AMN Healthcare Services by 125.4% during the 4th quarter. Equitable Trust Co. now owns 21,526 shares of the company’s stock valued at $515,000 after purchasing an additional 11,974 shares during the period. Finally, Thompson Investment Management Inc. increased its position in AMN Healthcare Services by 381.8% during the 4th quarter. Thompson Investment Management Inc. now owns 296,630 shares of the company’s stock valued at $7,095,000 after purchasing an additional 235,067 shares during the period. Hedge funds and other institutional investors own 99.23% of the company’s stock.

AMN Healthcare Services Stock Up 8.8 %

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 firm has a market cap of $1.07 billion, a PE ratio of 20.41 and a beta of 0.07. The business’s 50-day simple moving average is $25.40 and its 200 day simple moving average is $35.38.

AMN Healthcare Services Company Profile

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.