Truist analyst Tobey Sommer lowered the firm’s price target on Cross Country Healthcare to $25 from $38 and keeps a Hold rating on the shares as part of a broader research note on Healthcare Staffing. A survey of private companies indicated that both demand and price is trending lower sequentially in Travel Nursing, making new sales production less profitable while pressuring revenue/traveler/day metrics, gross margins and EBITDA margins in Q3, the analyst tells investors in a research note. A substantial improvement in full-time nurse retention year-to-date is a major driver of lower demand, Truist added.
Published first on TheFly
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