In the ever-evolving landscape of healthcare, workforce solutions and staffing services have become an essential part of hospital and healthcare facility management. AMN Healthcare Services, Inc. (NYSE:AMN) is among the leading providers in this market, offering its clients a comprehensive suite of solutions catering to their staffing and allied needs.
Recent reports suggest that Hunter Perkins Capital Management LLC has acquired a new stake in AMN Healthcare Services. The fund acquired over 67,000 shares of AMN’s stock that were valued at approximately $5.559 million during the first quarter of this year.
The move marks a significant addition to Hunter Perkins Capital Management LLC’s investment portfolio, with AMN Healthcare Services now ranking as its 23rd largest holding at 1.3%. Meanwhile, Hunter Perkins Capital Management LLC also owned approximately 0.17% of AMN Healthcare Services as per its recent SEC filing.
While investments and acquisitions are commonplace in the stock market, they do throw open an exciting opportunity to explore the target company further. With that said, let us take a closer look at what AMN Healthcare Services brings to the table.
AMN operates through three segments: Nurse and Allied Solutions; Physician and Leadership Solutions; and Technology and Workforce Solutions. The Nurse and Allied Solutions segment provides staffing solutions for travel nurses rapid response nurses who can quickly respond in a crisis, allied staffing providing professionals from fields such as physical therapy or social work for example , local staffing where healthcare workers are required locally, wherever there is demand along with revenue cycle solutions which is primarily managing financial aspects related to patient care.
The other segments cater to medical practitioners’ hiring needs along with technology-based solutions enabling scheduling software development using digital tools like Artificial Intelligence (AI) machine learning (ML), robots process automation(RPA), etc., which enhances workflow productivity.
Overall, with its expertise in providing staffing solutions across various healthcare verticals alongside cutting-edge technologies to enhance workforce productivity, AMN Healthcare Services appears well-positioned to take on the challenges brought about by an ever-changing healthcare landscape.
At the time of writing, AMN Healthcare Services’ shares are trading at $103.90, with a market cap of $4.12 billion and a price-to-earnings ratio of 11.85, a PEG ratio of 3.74 and a beta of 0.34. Although it currently may have mundane figures as compared to its recent high and low; the stock has shown potential in delivering returns to both investors and stakeholders alike in the long run.
In conclusion, with Hunter Perkins Capital Management LLC’s notable acquisition of new shares in AMN Healthcare Services, all eyes are now set on how the latter executes its plans for growth and expansion in the years ahead while navigating through a pandemic-stricken world.
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Investors Show Interest in AMN Healthcare Services, While Director Sells over $600K Worth of Stock
AMN Healthcare Services, a leading provider of healthcare workforce solutions in the United States, has recently seen several hedge funds and institutional investors modify their holdings. McElhenny Sheffield Capital Management LLC acquired a new position in shares of AMN Healthcare Services in the fourth quarter of last year, as did Money Concepts Capital Corp. Last quarter saw HM Payson & Co. lift its stake in the company’s shares by 87%, whilst Exchange Traded Concepts LLC followed this up with the acquisition of a new position in shares during Q1 2021 valued at $47,000. Archer Investment Corp also lifted its stake in shares of AMN Healthcare Services by 20% in Q4 of last year. Institutional investors and hedge funds now own 96.35% of the stock.
Despite this increased interest from investors, AMN Healthcare Services saw one director sell over $600k worth of stock on two occasions earlier this year. Mark G Foletta sold just over 6k shares back in April for an average price per share of $84.35. Later that month he then sold almost 1.5k more shares for an average price per share of $88.78. This follows other insider sales totaling over $748k within the past three months.
The Nurse and Allied Solutions segment makes up one third of AMN Healthcare Services’ workforce staffing services offerings to hospitals and other health facilities across America, alongside its Physician and Leadership Solutions and Technology and Workforce Solutions segments which aim to support healthcare IT services and ERP software offerings respectively.
In recent times analysts have weighed in on the company’s future prospects with mixed opinions; Robert W Baird reduced their price target on AMN Healthcare Services from $111 down to $100 per share, whilst Credit Suisse Group lowered their expectations from $128 to $115 per share earlier this year following poor financial results where revenue declined by almost 28%. With an average price target of $113.20, AMN Healthcare Services’ stock remains a moderate buy according to Bloomberg.com.
