Analyst Constantine Davides of JMP Securities maintained a Buy rating on AMN Healthcare Services (AMN – Research Report), with a price target of $92.00.
Constantine Davides’ Buy rating for AMN Healthcare Services is influenced by a variety of factors, including the recent positive trends revealed by the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) data. The upward revision of job openings for October and the slight sequential improvement in November point to beneficial conditions for the staffing sector. Moreover, the sustained high ratio of job openings to hires, remaining above the 2.0x threshold, is seen as a favorable indicator for continued demand in healthcare staffing services.
Furthermore, despite modeling for some demand and bill rate pressures in the first half of 2024, Davides’ outlook remains optimistic for normalization and growth in the latter half of 2024 and into 2025. The increase in the average EV/EBITDA multiple for the sector has also led to an upward revision of AMN’s price target from $85 to $92. AMN’s diversified business model, strong healthcare technology franchise, and profit resilience post the COVID-19 peak in Q1 2022 are additional factors underpinning the Buy rating and the preference for AMN within the healthcare staffing sector.
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Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMN in relation to earlier this year.
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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.
Read More on AMN:
- Survey: Majority of Healthcare Executives Foresee Better Organizational Health in 2024
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- AMN Healthcare Language Services Partners with ALTA to Offer Unparalleled Language Proficiency Testing, Interpretation Services for the Healthcare Industry
- AMN Healthcare partners with ALTA for language proficiency testing, service
