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AMN Healthcare Services Inc AMN

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1-Star Price

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Economic Moat

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Postpandemic Staffing Shortage to Persist; Raising AMN Healthcare's Fair Value Estimate to $71

Debbie S. Wang Senior Equity Analyst

Analyst Note

| Debbie S. Wang |

AMN reported strong second-quarter performance that echoed its record-breaking first quarter, though we do not believe recent performance represents a new normal. We are raising our fair value estimate on narrow-moat AMN to $71 per share, up from $55 previously. Labor shortages and resumed healthcare utilization kept revenue up this quarter. Management’s third-quarter guidance provides some clarity for 2021 results, suggesting a sharper decline in the third quarter, which we expect to stabilize in the fourth quarter.

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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 Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type Slow Growth
Employees 3,000

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