Wellington Management Group LLP Makes New $28.72 Million Investment in Ardent Health Partners, LLC (NYSE:ARDT)

Wellington Management Group LLP acquired a new position in shares of Ardent Health Partners, LLC (NYSE:ARDT) during the third quarter, Holdings Channel reports. The institutional investor acquired 1,562,768 shares of the company’s stock, valued at approximately $28,724,000.

Several other hedge funds have also modified their holdings of the stock. BNP Paribas Financial Markets acquired a new position in shares of Ardent Health Partners during the third quarter worth $42,000. Financial Management Professionals Inc. purchased a new stake in Ardent Health Partners in the 3rd quarter valued at $50,000. MetLife Investment Management LLC purchased a new stake in shares of Ardent Health Partners in the third quarter valued at about $135,000. Quadrature Capital Ltd purchased a new stake in Ardent Health Partners during the 3rd quarter valued at approximately $229,000. Finally, Centiva Capital LP acquired a new stake in shares of Ardent Health Partners during the third quarter worth $469,000.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ARDT shares. Bank of America cut Ardent Health Partners from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $19.00 in a report on Wednesday, November 6th. KeyCorp assumed coverage on shares of Ardent Health Partners in a report on Friday, October 11th. They set an “overweight” rating and a $24.00 target price for the company. Stephens restated an “overweight” rating and issued a $24.00 price objective on shares of Ardent Health Partners in a research report on Thursday, September 19th. Leerink Partners upped their price objective on shares of Ardent Health Partners from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Ardent Health Partners in a research report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $21.82.

Ardent Health Partners Trading Down 1.7 %

Shares of ARDT stock opened at $16.66 on Friday. 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, LLC has a 1 year low of $14.57 and a 1 year high of $20.72. The stock’s fifty day simple moving average is $17.44.

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.