Below is a note written by CEO Keith McCullough on why we're adding AMN Healthcare Services (AMN) to the LONG side of Investing Ideas today:
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We're into day 3 of people selling on red in the US stock market. Why they chased on green after the January highs is their problem, not yours. We like to buy things when they are A) Bullish TREND @Hedgeye Research and B) on sale towards the low-end of the @Hedgeye Risk Range. One of Tom Tobin's favorite Healthcare Stocks (AMN Healthcare) fits that profile. Here's an excerpt from one of his Institutional Research notes on AMN: "One of the key themes we discussed during our 1Q19 Health Care Themes presentation earlier this week was accelerating wage inflation in Health Care. It appears utilization is accelerating slightly, leading to increased demand for Health Care labor, but at a time when the labor pool is extremely tight, especially for RNs. For a temporary health care staffing company like AMN, the result should be decidedly positive." Buy on red, KM |
