Ardent Health Partners, LLC’s (NYSE:ARDT) Lock-Up Period To End Tomorrow

Ardent Health Partners’ (NYSE:ARDT) lock-up period is set to expire on Tuesday, January 14th. Ardent Health Partners had issued 12,000,000 shares in its initial public offering on July 18th. The total size of the offering was $192,000,000 based on an initial share price of $16.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ARDT. Bank of America lowered shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $19.00 in a research note on Wednesday, November 6th. Leerink Partners lifted their price objective on shares of Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Stephens reaffirmed an “overweight” rating and issued a $24.00 price target on shares of Ardent Health Partners in a research note on Thursday, September 19th. Truist Financial cut their price target on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Two investment 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’s stock. Based on data from MarketBeat, Ardent Health Partners presently has a consensus rating of “Buy” and an average price target of $22.00.

Ardent Health Partners Trading Down 3.6 %

Shares of NYSE ARDT opened at $15.84 on Monday. The firm has a 50 day simple moving average of $16.56. Ardent Health Partners has a 1 year low of $14.57 and a 1 year 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.

Institutional Trading of Ardent Health Partners

Several hedge funds have recently bought and sold shares of ARDT. BNP Paribas Financial Markets purchased a new position in Ardent Health Partners during the 3rd quarter worth $42,000. Financial Management Professionals Inc. purchased a new position in Ardent Health Partners during the 3rd quarter worth $50,000. MetLife Investment Management LLC purchased a new position in Ardent Health Partners during the 3rd quarter worth $135,000. JPMorgan Chase & Co. purchased a new position in Ardent Health Partners during the 3rd quarter worth $154,000. Finally, Quadrature Capital Ltd purchased a new position in Ardent Health Partners during the 3rd quarter worth $229,000.

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.