AMN Healthcare Services (NYSE:AMN) Stock Price Down 8% – Here’s Why

AMN Healthcare Services, Inc. (NYSE:AMN) shares dropped 8% on Friday . The stock traded as low as $24.49 and last traded at $24.45. Approximately 307,650 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 924,427 shares. The stock had previously closed at $26.57.

Analyst Upgrades and Downgrades

AMN has been the subject of several research analyst reports. William Blair downgraded shares of AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Truist Financial decreased their price target on shares of AMN Healthcare Services from $47.00 to $40.00 and set a “buy” rating for the company in a report on Friday, February 21st. StockNews.com raised shares of AMN Healthcare Services from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $34.00 price target on shares of AMN Healthcare Services in a report on Thursday, February 6th. Finally, Jefferies Financial Group decreased their price target on shares of AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating for the company in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, AMN Healthcare Services has a consensus rating of “Hold” and an average price target of $41.17.

AMN Healthcare Services Price Performance

The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.18 and a current ratio of 1.09. The business’s 50 day simple moving average is $25.64 and its 200-day simple moving average is $34.00. The stock has a market capitalization of $967.33 million, a price-to-earnings ratio of -6.58 and a beta of 0.07.

AMN Healthcare Services (NYSE:AMN) last posted its earnings results on Thursday, February 20th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.23. The firm had revenue of $734.71 million during the quarter, compared to analyst estimates of $694.38 million. AMN Healthcare Services had a negative net margin of 4.93% and a positive return on equity of 15.22%. Research analysts anticipate that AMN Healthcare Services, Inc. will post 1.33 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of AMN Healthcare Services in the 4th quarter worth approximately $500,000. Public Employees Retirement System of Ohio acquired a new stake in shares of AMN Healthcare Services in the 4th quarter worth approximately $1,609,000. PharVision Advisers LLC acquired a new stake in shares of AMN Healthcare Services in the 4th quarter worth approximately $570,000. White Knight Strategic Wealth Advisors LLC lifted its stake in shares of 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 worth $614,000 after acquiring an additional 9,710 shares during the period. Finally, Voloridge Investment Management LLC acquired a new stake in shares of AMN Healthcare Services in the 4th quarter worth approximately $12,685,000. 99.23% of the stock is owned by institutional investors and hedge funds.

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.