Pier Capital LLC Boosts Stock Position in Ardent Health Partners, LLC (NYSE:ARDT)

Pier Capital LLC increased its position in Ardent Health Partners, LLC (NYSE:ARDT) by 70.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 373,904 shares of the company’s stock after acquiring an additional 154,077 shares during the quarter. Pier Capital LLC’s holdings in Ardent Health Partners were worth $6,386,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE bought a new position in shares of Ardent Health Partners in the fourth quarter worth approximately $31,000. R Squared Ltd purchased a new position in shares of Ardent Health Partners during the 4th quarter valued at $37,000. BNP Paribas Financial Markets bought a new position in Ardent Health Partners in the 3rd quarter worth $42,000. New York State Common Retirement Fund bought a new position in Ardent Health Partners in the 4th quarter worth $48,000. Finally, MetLife Investment Management LLC purchased a new stake in Ardent Health Partners in the 3rd quarter worth $135,000.

Ardent Health Partners Trading Up 1.2 %

Shares of ARDT stock opened at $13.30 on Tuesday. The stock’s 50-day moving average is $14.47 and its 200 day moving average is $16.37. Ardent Health Partners, LLC has a 1-year low of $13.07 and a 1-year high of $20.72. The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 0.78.

Ardent Health Partners (NYSE:ARDT) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.50 by $0.31. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.48 billion. As a group, equities analysts anticipate that Ardent Health Partners, LLC will post 1.23 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada dropped their price objective on Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Stephens restated an “overweight” rating and issued a $22.00 price target on shares of Ardent Health Partners in a research note on Thursday, February 27th. Truist Financial cut their price objective on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a report on Monday, January 6th. Morgan Stanley lowered their target price on shares of Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $20.00 target price on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $21.18.

Ardent Health Partners 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.