Here’s Why Polen Capital Trimmed its Position in AMN Healthcare Services (AMN)

Polen Capital, an investment management company, released its “Polen U.S. Small Company Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -25.81% net of fees compared to a -19.25% return for the Russell 2000 Growth Index. The fund underperformed in the second quarter due to widespread economic slowdown. In addition, please check the fund’s top five holdings to know its best picks in 2022.

In the second quarter 2022 investor letter, Polen Capital discussed stocks like AMN Healthcare Services, Inc. (NYSE:AMN). Headquartered in Dallas, Texas, AMN Healthcare Services, Inc. (NYSE:AMN) provides healthcare staff and workforce solutions to hospitals. On September 29, 2022, AMN Healthcare Services, Inc. (NYSE:AMN) stock closed at $106.50 per share. One-month return of AMN Healthcare Services, Inc. (NYSE:AMN) was 5.41% and its shares lost 7.34% of their value over the last 52 weeks. AMN Healthcare Services, Inc. (NYSE:AMN) has a market capitalization of $4.609 billion.

Here is what Polen Capital specifically said about AMN Healthcare Services, Inc. (NYSE:AMN) in its Q2 2022 investor letter:

AMN Healthcare Services, Inc. (NYSE:AMN) is a provider of temporary health care staffing in the U.S. A tightened labor market and higher-than-average turnover in the health care industry precipitated by the pandemic are helping to drive pricing and volume growth for the company. We do not believe the company’s current results are sustainable, especially the well above average pricing the company is currently benefitting from. Given its relative performance and the wide range of outcomes over the next few years as health care starts to normalize, we trimmed our position in the company.”

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AMN Healthcare Services, Inc. (NYSE:AMN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held AMN Healthcare Services, Inc. (NYSE:AMN) at the end of the second quarter which was 25 in the previous quarter.

We discussed AMN Healthcare Services, Inc. (NYSE:AMN) in another article and shared the list of strong stocks to invest in according to Reddit. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.