Ardent Health Partners (NYSE:ARDT) Price Target Cut to $21.00 by Analysts at Royal Bank of Canada

Ardent Health Partners (NYSE:ARDT) had its price objective decreased by Royal Bank of Canada from $23.00 to $21.00 in a research report released on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other brokerages also recently issued reports on ARDT. Morgan Stanley decreased their price objective on shares of Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Leerink Partners raised their price target on Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Bank of America downgraded Ardent Health Partners from a “buy” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $19.00 in a research report on Wednesday, November 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 target price on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Finally, Truist Financial lowered their target price on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $21.18.

Ardent Health Partners Stock Performance

NYSE ARDT opened at $15.01 on Tuesday. The business’s 50 day moving average price is $15.18 and its 200-day moving average price is $16.82. Ardent Health Partners has a fifty-two week low of $13.55 and a fifty-two week high of $20.72. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.91 and a quick ratio of 1.78.

Ardent Health Partners (NYSE:ARDT) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.31. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, analysts forecast that Ardent Health Partners will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARDT. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ardent Health Partners during the fourth quarter valued at approximately $27,000. US Bancorp DE purchased a new stake in Ardent Health Partners during the fourth quarter worth $31,000. R Squared Ltd bought a new stake in Ardent Health Partners during the 4th quarter valued at $37,000. BNP Paribas Financial Markets purchased a new position in shares of Ardent Health Partners in the 3rd quarter valued at $42,000. Finally, New York State Common Retirement Fund bought a new position in shares of Ardent Health Partners in the 4th quarter worth $48,000.

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.