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

Ardent Health Partners, LLC (NYSE:ARDT) has earned a consensus rating of “Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $21.18.

A number of research firms have recently weighed in on ARDT. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 price target on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Truist Financial decreased their price target on 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. Morgan Stanley lowered 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 report on Tuesday, January 21st. Stephens reiterated an “overweight” rating and issued a $22.00 price target on shares of Ardent Health Partners in a research note on Thursday, February 27th. Finally, Royal Bank of Canada reduced their price objective on Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th.

Institutional Trading of Ardent Health Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ventas Inc. purchased a new position in Ardent Health Partners during the fourth quarter worth about $159,570,000. Wellington Management Group LLP purchased a new position in shares of Ardent Health Partners in the 3rd quarter worth about $28,724,000. Point72 Asset Management L.P. bought a new position in shares of Ardent Health Partners during the 3rd quarter valued at approximately $27,428,000. Goldentree Asset Management LP purchased a new stake in shares of Ardent Health Partners during the 3rd quarter worth approximately $22,897,000. Finally, Franklin Resources Inc. bought a new stake in shares of Ardent Health Partners in the 3rd quarter worth approximately $15,839,000.

Ardent Health Partners Stock Performance

Shares of ARDT opened at $13.30 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. Ardent Health Partners has a 52 week low of $13.07 and a 52 week high of $20.72. The firm’s 50-day simple moving average is $14.47 and its 200 day simple moving average is $16.37.

Ardent Health Partners (NYSE:ARDT) last announced its earnings results on Wednesday, February 26th. The company reported $0.81 earnings per share 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 the consensus estimate of $1.48 billion. Sell-side analysts forecast that Ardent Health Partners will post 1.23 EPS for the current fiscal year.

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.