Morgan Stanley Cuts Ardent Health Partners (NYSE:ARDT) Price Target to $22.00

Ardent Health Partners (NYSE:ARDT) had its price target reduced by Morgan Stanley from $23.50 to $22.00 in a report published on Tuesday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other brokerages also recently weighed in on ARDT. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Ardent Health Partners in a report on Thursday, November 14th. Leerink Partners increased 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 report on Tuesday, November 12th. Bank of America cut shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $19.00 in a report on Wednesday, November 6th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $20.00 price target on shares of Ardent Health Partners in a report on Tuesday, December 17th. Finally, KeyCorp started coverage on shares of Ardent Health Partners in a research note on Friday, October 11th. They issued an “overweight” rating and a $24.00 price objective on the stock. Two equities research 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 stock. According to data from MarketBeat, Ardent Health Partners currently has a consensus rating of “Buy” and an average target price of $21.55.

Ardent Health Partners Stock Up 5.0 %

ARDT opened at $15.27 on Tuesday. The company has a fifty day moving average of $16.11. 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 12 month low of $13.63 and a 12 month high of $20.72.

Ardent Health Partners (NYSE:ARDT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. On average, research analysts predict that Ardent Health Partners will post 1.22 earnings per share for the current year.

Institutional Trading of Ardent Health Partners

A number of large investors have recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in Ardent Health Partners during the fourth quarter worth about $37,000. Oliver Luxxe Assets LLC purchased a new position in shares of Ardent Health Partners in the fourth quarter worth about $1,465,000. JPMorgan Chase & Co. purchased a new position in shares of Ardent Health Partners in the third quarter worth about $154,000. Franklin Resources Inc. purchased a new position in shares of Ardent Health Partners in the third quarter worth about $15,839,000. Finally, Barclays PLC purchased a new position in shares of Ardent Health Partners in the third quarter worth about $385,000.

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.