Analysts Set Price Target for AMN Healthcare at $21.42
AMN Healthcare Services Inc (NYSE:AMN) has received an average rating of “Hold” from a group of nine analysts who currently cover the stock, according to Marketbeat.com. The assessments reveal a mixed outlook, with two analysts rating the stock as a sell, two as a hold, and five issuing buy ratings. The average 12-month price target among these analysts is approximately $21.42.
Several analysts have recently updated their evaluations of AMN Healthcare. On October 13, 2023, Truist Financial raised its price target for AMN from $20.00 to $24.00, maintaining a “buy” rating. Similarly, UBS Group increased its price objective from $18.00 to $20.50 and assigned a “neutral” rating in a report published on November 7, 2023. Zacks Research upgraded AMN’s rating from “strong sell” to “hold” on November 25, 2023. In contrast, Weiss Ratings reaffirmed a “sell (d-)” rating on October 8, 2023, highlighting a lack of confidence in the stock’s immediate prospects.
AMN Healthcare recently announced its quarterly earnings, revealing a profit of $0.39 per share for the quarter ending November 6, 2023. This surpassed analysts’ consensus estimate of $0.19 by $0.20. The company reported revenue of $634.5 million, exceeding expectations of $618.08 million. Despite this positive performance, the revenue marked a decline of 7.7% compared to the same quarter the previous year, when earnings per share were $0.61. Analysts predict that AMN Healthcare will achieve earnings of $1.33 per share for the current fiscal year.
Institutional Investments in AMN Healthcare
Recent trading activity indicates increased interest in AMN shares among institutional investors. A number of hedge funds have either increased their holdings or initiated new positions in the company. Strengthening Families & Communities LLC reported a significant increase in its stake by 238.5% during the third quarter, now owning 1,713 shares valued at approximately $33,000. Similarly, Caption Management LLC expanded its holdings by 400.0% in the first quarter, bringing its total to 2,500 shares worth around $61,000.
Johnson Financial Group Inc. entered the scene with a new position in AMN Healthcare in the third quarter, valued at about $63,000. Tower Research Capital LLC increased its holdings by 49.2% during the second quarter, now owning 3,093 shares valued at approximately $64,000. Covestor Ltd also boosted its position by 13.9%, owning 4,747 shares worth around $92,000 after buying additional shares. Collectively, institutional investors now own 99.23% of AMN Healthcare’s stock.
About AMN Healthcare Services
Founded in 1985 as American Mobile Nurses, AMN Healthcare Services, Inc. is a prominent provider of healthcare workforce solutions in the United States. The company specializes in staffing and recruitment services for various healthcare professionals, including travel nurses, permanent nursing staff, locum tenens physicians, and allied health personnel.
Beyond direct staffing, AMN Healthcare offers comprehensive workforce management solutions, including vendor management systems (VMS), recruitment process outsourcing (RPO), and compliance and credentialing services through advanced technology platforms. The company rebranded to AMN Healthcare in 2010 to reflect its broadened service offerings, establishing itself as a key player in the healthcare staffing industry.
As the healthcare sector continues to evolve, AMN Healthcare’s ability to adapt and respond to market demands will likely influence its stock performance and analyst ratings in the future.
