Ardent Health Partners (NYSE:ARDT) Shares Up 6.7% – Should You Buy?

Ardent Health Partners, LLC (NYSE:ARDT)’s share price rose 6.7% during trading on Monday . The company traded as high as $14.97 and last traded at $15.20. Approximately 53,937 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 379,756 shares. The stock had previously closed at $14.25.

Analyst Ratings Changes

Several research analysts have issued reports on ARDT shares. KeyCorp initiated coverage on Ardent Health Partners in a report on Friday, October 11th. They issued an “overweight” rating and a $24.00 price target on the stock. Morgan Stanley cut their target price on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Leerink Partners lifted their price target on shares of Ardent Health Partners from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price objective on shares of Ardent Health Partners in a report on Thursday, November 14th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 price objective on shares of Ardent Health Partners in a report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $21.55.

Ardent Health Partners Price Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 1.91 and a quick ratio of 1.78. The stock has a 50-day simple moving average of $15.93.

Ardent Health Partners (NYSE:ARDT) last posted its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.10). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. As a group, equities analysts predict that Ardent Health Partners, LLC will post 1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd purchased a new stake in Ardent Health Partners during the fourth quarter valued at about $37,000. BNP Paribas Financial Markets purchased a new position in shares of Ardent Health Partners during the 3rd quarter valued at about $42,000. Financial Management Professionals Inc. bought a new stake in Ardent Health Partners in the 3rd quarter worth approximately $50,000. MetLife Investment Management LLC purchased a new stake in Ardent Health Partners in the third quarter worth approximately $135,000. Finally, JPMorgan Chase & Co. bought a new position in Ardent Health Partners during the third quarter valued at approximately $154,000.

About Ardent Health Partners

Ardent Health Partners, Inc owns and operates a network of hospitals and clinics that provides a range of healthcare services in the United States. It operates acute care hospitals, including rehabilitation hospitals and surgical hospitals. The company was founded in 2001 and is based in Brentwood, Tennessee.