Ardent Health Partners (NYSE:ARDT) Shares Up 4.6% – Here’s Why

Ardent Health Partners, LLC (NYSE:ARDT)’s stock price traded up 4.6% during trading on Monday . The stock traded as high as $13.69 and last traded at $13.81. 359,383 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 404,587 shares. The stock had previously closed at $13.20.

Analyst Ratings Changes

Several research analysts recently weighed in on ARDT shares. Stephens reissued an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research report on Tuesday. Truist Financial cut their price objective on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $20.00 target price on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Royal Bank of Canada dropped their price objective on Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Finally, Morgan Stanley dropped their price target on shares of Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Two research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $21.18.

Ardent Health Partners Trading Down 1.0 %

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 business has a 50-day simple moving average of $14.38 and a two-hundred day simple moving average of $16.15.

Ardent Health Partners (NYSE:ARDT) last announced its earnings results on Wednesday, February 26th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.31. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.48 billion. As a group, research analysts predict that Ardent Health Partners, LLC will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Ardent Health Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ardent Health Partners during the fourth quarter worth approximately $27,000. US Bancorp DE acquired a new position in Ardent Health Partners during the fourth quarter valued at approximately $31,000. R Squared Ltd bought a new stake in Ardent Health Partners in the fourth quarter valued at approximately $37,000. BNP Paribas Financial Markets acquired a new stake in Ardent Health Partners in the third quarter worth $42,000. Finally, New York State Common Retirement Fund bought a new position in shares of Ardent Health Partners during the fourth quarter worth $48,000.

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.