AMN Healthcare Services (AMN – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Kevin Fischbeck from Bank of America Securities reiterated a Hold rating on the stock and has a $65.00 price target.
Kevin Fischbeck has given his Hold rating due to a combination of factors, including the current pressures in the near-term alongside a positive long-term growth projection for AMN Healthcare Services. The company’s presentation, led by key executives, projected near-term normalization in demand but also indicated a well-positioned strategy for mid-single-digit growth and potential for margin expansion in the future. Fischbeck’s revised price objective to $65 from $61 reflects increased confidence in the near-term demand based on recent trends, despite current pressures.
Travel nurse demand, while experiencing a downturn, shows signs of stabilization, which is a factor in the Neutral rating. Although the first quarter saw a significant decline from the previous quarter and the second quarter continued to be lower, recent stabilization suggests potential seasonal improvements in demand. Additionally, the strength in demand for AMN’s locums, language services, and allied health segments, with significant growth compared to 2019 levels, further supports the company’s diversified strength. AMN’s proactive responses to industry dynamics, including cost structure adjustments and investments in technology to improve order fulfillment, contribute to the anticipation of long-term growth and margin improvements.
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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.
