AMN Healthcare Services (NYSE:AMN) Shares Gap Up on Better-Than-Expected Earnings

AMN Healthcare Services, Inc. (NYSE:AMN) gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $20.33, but opened at $22.45. AMN Healthcare Services shares last traded at $23.07, with a volume of 286,517 shares traded.

The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.19 by $0.26. The firm had revenue of $689.53 million for the quarter, compared to the consensus estimate of $670.08 million. AMN Healthcare Services had a negative net margin of 4.93% and a positive return on equity of 15.22%. The company’s quarterly revenue was down 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 earnings per share.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. BMO Capital Markets lowered their target price on AMN Healthcare Services from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. StockNews.com raised shares of AMN Healthcare Services from a “sell” rating to a “hold” rating in a research report on Tuesday, March 25th. JMP Securities restated a “market outperform” rating and set a $34.00 target price on shares of AMN Healthcare Services in a research report on Thursday, February 6th. Finally, Truist Financial dropped their price target on shares of AMN Healthcare Services from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, AMN Healthcare Services has a consensus rating of “Hold” and a consensus price target of $38.67.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. CenterBook Partners LP increased its position in AMN Healthcare Services by 184.6% during the 1st quarter. CenterBook Partners LP now owns 151,834 shares of the company’s stock worth $3,714,000 after purchasing an additional 98,483 shares in the last quarter. Deutsche Bank AG grew its stake in shares of AMN Healthcare Services by 213.1% during the first quarter. Deutsche Bank AG now owns 292,477 shares of the company’s stock worth $7,154,000 after buying an additional 199,069 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of AMN Healthcare Services by 1.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 904,275 shares of the company’s stock worth $22,119,000 after buying an additional 17,064 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of AMN Healthcare Services by 27.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 15,029 shares of the company’s stock valued at $368,000 after acquiring an additional 3,202 shares during the last quarter. Finally, US Bancorp DE grew its position in AMN Healthcare Services by 29.5% during the 1st quarter. US Bancorp DE now owns 9,462 shares of the company’s stock worth $231,000 after acquiring an additional 2,155 shares during the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

AMN Healthcare Services Trading Up 8.2 %

The business has a fifty day simple moving average of $21.82 and a 200-day simple moving average of $25.54. The firm has a market cap of $839.78 million, a price-to-earnings ratio of -5.71 and a beta of 0.16. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.09.

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.