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AMN Healthcare Services Inc AMN

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

AMN Has Record Quarter Amid Short-Term Staffing Shortages

Debbie S. Wang Senior Equity Analyst

Analyst Note

| Debbie S. Wang |

Narrow-moat AMN Healthcare reported fourth-quarter revenue of $886 million, representing 47% year-over-year growth and exceeding management’s guidance and our expectations. In light of this outperformance, we anticipate a moderate boost to our $51 fair value estimate. Operating margin doubled year over year and net margin surged by 369%, as fixed costs remained quite stable despite tremendous top-line growth. While the impact of the pandemic on future years remains uncertain, this year will bring substantially higher revenue due to temporary shortages, and management has raised second-quarter guidance accordingly.

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Company Profile

Business Description

AMN Healthcare Services is the largest healthcare staffing company in the United States. In 2019, it placed almost 10,000 nurses and allied healthcare full-time workers with provider clients nationwide. About two thirds of its business is generated from its temporary nursing division; the other third is generated from its physician placement and technology-backed workplace solutions divisions.

Contact
8840 Cypress Waters Boulevard, Suite 300
Dallas, TX, 75019
T +1 866 871-8519
Sector Healthcare
Industry Medical Care Facilities
Most Recent Earnings Mar 31, 2021
Fiscal Year End Dec 31, 2021
Stock Type Slow Growth
Employees 3,000

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