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Dallas-based AMN Healthcare Services Inc . (NYSE:AMN), a leading provider of healthcare workforce solutions and staffing services, announced the appointment of Mr. James H. Hinton to its Board of Directors, effective July 22, 2024. The addition of Mr. Hinton increases the size of AMN's Board from eight to nine members.
Mr. Hinton, with a robust background in healthcare leadership, joins AMN's Board as an independent director, meeting the independence criteria of the New York Stock Exchange and the company's own standards. He brings to the table his extensive experience, having been an Operating Partner at Welsh, Carson, Anderson, Stowe since 2022, and previously the CEO of Baylor Scott & White Health from 2017 to 2021. His career in healthcare spans over three decades, including a 21-year tenure as CEO and President of Presbyterian Healthcare Services (NASDAQ:HCSG) in New Mexico.
In addition to his new role at AMN, Mr. Hinton is also a board member of McKesson Corporation (NYSE:MCK) and the Health Management Academy. His governance and operational expertise are expected to contribute significantly to AMN's strategic direction.
As part of his compensation, Mr. Hinton will receive restricted stock units valued at approximately $127,500, vesting on the first anniversary of the grant or at the 2025 Annual Meeting of Shareholders, whichever comes first. He will also receive a prorated portion of the annual non-employee director cash retainer, starting with $17,363.76 upon his appointment and a subsequent quarterly retainer of $22,500 starting in the fourth quarter of 2024.
Mr. Hinton's appointment comes at a time when AMN Healthcare is poised to navigate the evolving demands of the healthcare industry. His election was formally reported in an 8-K filing with the Securities and Exchange Commission.
In other recent news, AMN Healthcare Services Inc. reported mixed financial results for the first quarter, with revenues meeting market expectations at $821 million. However, the Nurse and Allied Solutions segment saw a significant 37% drop in year-over-year revenues. On a positive note, the Physician and Leadership Solutions segment and Language Services demonstrated growth, with 14% and 16% increases respectively. AMN Healthcare also announced the appointment of healthcare veteran Jim Hinton to its board of directors.
Hinton's vast experience in healthcare leadership is expected to contribute to the company's strategic vision. In terms of analyst notes, BMO Capital Markets and JMP Securities provided varied outlooks on AMN Healthcare's future, with price targets ranging from $71.00 to $75.00. BMO Capital Markets revised the price target for the company's shares downward to $71.00, while BofA Securities increased its price target to $65.00. These are recent developments in AMN Healthcare's journey through a post-pandemic landscape.
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