Ardent Health Partners, LLC (NYSE:ARDT) Given Average Recommendation of “Buy” by Brokerages

Ardent Health Partners, LLC (NYSE:ARDT) has earned an average rating of “Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $21.36.

Several brokerages recently weighed in on ARDT. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 price objective on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Leerink Partners increased their price objective on Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Bank of America lowered Ardent Health Partners from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, November 6th. Stephens restated an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research report on Thursday. Finally, Truist Financial lowered their price target on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, January 6th.

Ardent Health Partners Price Performance

Shares of Ardent Health Partners stock opened at $15.10 on Friday. Ardent Health Partners has a fifty-two week low of $13.63 and a fifty-two week high of $20.72. The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. The stock has a 50 day moving average of $15.25 and a 200 day moving average of $16.85.

Ardent Health Partners (NYSE:ARDT) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.31. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, sell-side analysts forecast that Ardent Health Partners will post 1.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ardent Health Partners in the fourth quarter valued at $27,000. Squarepoint Ops LLC boosted its holdings in Ardent Health Partners by 1.8% in the fourth quarter. Squarepoint Ops LLC now owns 101,798 shares of the company’s stock valued at $1,739,000 after purchasing an additional 1,798 shares during the period. US Bancorp DE purchased a new position in Ardent Health Partners in the fourth quarter valued at $31,000. Bank of New York Mellon Corp boosted its holdings in Ardent Health Partners by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 25,615 shares of the company’s stock valued at $438,000 after purchasing an additional 1,941 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Ardent Health Partners by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 142,563 shares of the company’s stock valued at $2,435,000 after purchasing an additional 2,127 shares during the period.

Ardent Health Partners Company Profile

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.