AMN Healthcare Services Inc (NYSE: AMN) has received an average rating of “Hold” from nine analysts covering the stock, according to Marketbeat.com. The analysts’ evaluations reveal a divided sentiment: two analysts rated the stock as a sell, two as a hold, and five as a buy. The consensus price target stands at approximately $21.42 for the next twelve months.
Recent reports highlight several adjustments in price targets for AMN Healthcare. Notably, Truist Financial raised its target from $20.00 to $24.00 while maintaining a “buy” rating, as released on October 13, 2023. Meanwhile, Zacks Research upgraded the stock from a “strong sell” to a “hold” rating in a note dated November 25, 2023. Conversely, Weiss Ratings reaffirmed a “sell (d-)” rating on October 8, 2023. Adding to the mix, UBS Group increased its price target from $18.00 to $20.50 with a “neutral” rating on November 7, 2023. Lastly, Wall Street Zen upgraded AMN Healthcare from a “hold” to a “buy” rating on November 15, 2023.
Quarterly Earnings Report Highlights
AMN Healthcare recently announced its quarterly earnings on November 6, 2023, reporting $0.39 earnings per share, exceeding analysts’ expectations of $0.19 by $0.20. The company generated $634.50 million in revenue for the quarter, surpassing the anticipated $618.08 million. Despite this positive performance, the company’s revenue fell by 7.7% compared to the same quarter the previous year.
The firm’s return on equity was reported at 10.89%, while it faced a 10.14% negative net margin. Analysts project AMN Healthcare Services will report $1.33 earnings per share for the current year.
Institutional Investors Show Interest
Several hedge funds have recently adjusted their positions in AMN Healthcare Services. Notably, Strengthening Families & Communities LLC increased its stake by 238.5% during the third quarter, now holding 1,713 shares valued at approximately $33,000. Similarly, Caption Management LLC saw a significant growth of 400.0% in its holdings, accumulating 2,500 shares worth about $61,000.
Other notable transactions include Johnson Financial Group Inc., which acquired a new position worth around $63,000, and Tower Research Capital LLC TRC, which raised its holdings by 49.2%, now owning 3,093 shares valued at $64,000. Institutional investors collectively own 99.23% of AMN Healthcare Services’ stock, reflecting strong institutional confidence in the company.
Founded in 1985 as American Mobile Nurses, AMN Healthcare Services has evolved into a key player in healthcare workforce solutions in the United States. The company specializes in staffing and recruitment for a variety of clinical and allied health roles, including travel nurses and locum tenens physicians, while also offering comprehensive workforce management solutions.
As AMN Healthcare navigates shifting market dynamics, its ability to adapt to changing investor sentiment and operational challenges will be crucial in the coming months.
