Jeffrey R. Knudson, the Chief Financial Officer of AMN Healthcare Services Inc . (NYSE:AMN), recently executed a series of stock transactions, as reported in a recent SEC filing. On November 2, Knudson sold 2,461 shares of AMN common stock at a price of $36.90 per share, amounting to a total transaction value of approximately $90,810.
In addition to the sale, Knudson acquired 9,950 shares of common stock at no cost, following the vesting of Restricted Stock Units (RSUs) granted under the AMN Healthcare 2017 Equity Plan. These RSUs were initially granted on November 2, 2021, and vested in three annual tranches.
Following these transactions, Knudson's direct ownership of AMN stock stands at 37,550 shares. The shares sold were withheld for tax purposes, as noted in the filing.
In other recent news, AMN Healthcare has seen significant changes in its leadership and financial performance. The company appointed Brian Scott as Chief Financial Officer and Chief Operating Officer, following the departure of Jeffrey Knudson. Tomya Watt was also named the new Chief People Officer. These strategic appointments are expected to enhance the company's operational effectiveness.
AMN Healthcare reported Q1 revenues that met market expectations at $821 million, despite a 37% year-over-year drop in revenues from the Nurse and Allied Solutions segment. However, the Physician and Leadership Solutions segment and Language Services showed promising growth, with increases of 14% and 16% respectively.
In terms of analyst ratings, BMO Capital Markets maintained its Outperform rating on the company. However, BofA Securities adjusted its stance on AMN Healthcare, moving the rating from Neutral to Underperform, reflecting lowered expectations for the company's future earnings. These recent developments reflect the dynamic nature of AMN Healthcare's business environment.
InvestingPro Insights
The recent stock transactions by AMN Healthcare Services (NASDAQ:HCSG) Inc.'s CFO Jeffrey R. Knudson come at a time when the company's stock is facing significant headwinds. According to InvestingPro data, AMN's stock price has fallen by 39.82% over the past three months, and is currently trading near its 52-week low. This aligns with one of the InvestingPro Tips, which notes that the price has fallen significantly over the last three months.
Despite these challenges, AMN Healthcare maintains a relatively modest P/E ratio of 14.63, suggesting that the stock may be undervalued compared to its earnings. This is further supported by another InvestingPro Tip indicating that the company's valuation implies a strong free cash flow yield.
However, investors should be aware that analysts anticipate a sales decline in the current year, with revenue growth showing a negative 26.21% in the last twelve months as of Q2 2024. This decline in revenue is reflected in the company's EBITDA, which has decreased by 40.15% over the same period.
For those interested in a more comprehensive analysis, InvestingPro offers 7 additional tips for AMN Healthcare, providing a deeper understanding of the company's financial health and market position.
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