In a report released on May 10, Jeffrey Silber from BMO Capital maintained a Buy rating on AMN Healthcare Services (AMN – Research Report), with a price target of $71.00.
Jeffrey Silber has given his Buy rating due to a combination of factors including AMN Healthcare Services’ narrow beat to consensus estimates, which were primarily driven by stronger margins. Despite the fact that second quarter guidance was slightly below consensus expectations, with a forecasted decrease in both volumes and bill rates, Silber remains cautiously optimistic about the company’s prospects. He anticipates that the third quarter will mark the operational bottom for AMN, although he admits that the decline may be deeper than initially expected.
Silber’s positive stance is further supported by the performance of AMN’s Physician and Leadership Solutions, which saw a significant year-over-year revenue increase at the higher end of the guidance range, bolstered by the Locum Tenens growth from the recent MSDR acquisition. Additionally, while the company’s overall business has been receding from its pandemic peak, there is an expectation of a return to normalization above pre-pandemic levels. This forward-looking perspective, despite the reduction in estimates and target price, underscores the Buy rating that Silber has confidently placed on AMN Healthcare Services.
Silber covers the Industrials sector, focusing on stocks such as Trueblue, Verisk Analytics, and ManpowerGroup. According to TipRanks, Silber has an average return of 12.2% and a 65.30% success rate on recommended stocks.
In another report released on May 10, JMP Securities also maintained a Buy rating on the stock with a $75.00 price target.
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AMN Healthcare Services (AMN) Company Description:
AMN Healthcare Services, Inc. provides healthcare workforce solutions and staffing services to healthcare facilities across the nation. Its workforce solutions include managed services programs and recruitment process outsourcing. The company operates through the following segments: Nurse and Allied Solutions, Locum Tenens Solutions and Other Workforce Solutions. The Nurse and Allied Solutions segment provides hospital and other healthcare facilities with a range of clinical workforce solutions. The Locum Tenens Solutions segment offers managed service programs, vendor management systems solution and traditional temporary staffing. The Other Workforce Solutions other workforce solutions segment consists of the following Company businesses physician permanent placement services, healthcare interim leadership staffing and executive search services, vendor management systems, recruitment process outsourcing, education, mid-revenue cycle management, and workforce optimization services. AMN Healthcare Services was founded on November 10, 1997 and is headquartered in San Diego, CA.
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