- AMN Healthcare Services ( NYSE: AMN ) added as a new short idea at Hedgeye and sees the potential for 30% decline for shares in the healthcare staffing company.
- Rates, volume and margins are likely to continue to revert toward pre-pandemic levels, Hedgeye analyst Tom Tobin wrote in a note on Tuesday. Hedgeye expects 2023 revenue and EBITDA to come in below company guidance and consensus estimates.
- "The data suggest that after a strong 4Q22 pricing trend through November, rates are rolling over as the flu nears a seasonal peak and RSV returns to October levels," Tobin wrote. " The premium of AMN's contract rates over industry rates for full time employees remains stretched, but in recent months has been in decline, leaving plenty of room for further downside in 2023."
- AMN Healthcare ( AMN ) short interest is 9.9%. AMN is a not a new idea for Hedgeye as the firm added the company as a new best idea short in late April. AMN shares have risen 2.5% since the original short call.
- AMN Healthcare ( AMN ) reported Q3 results last month.
For further details see:
AMN Healthcare Services a new short idea at Hedgeye