Ardent Health Partners (NYSE:ARDT) Given “Overweight” Rating at Stephens

Ardent Health Partners (NYSE:ARDT)‘s stock had its “overweight” rating reissued by equities researchers at Stephens in a research note issued on Wednesday,Benzinga reports. They presently have a $22.00 target price on the stock. Stephens’ price objective would indicate a potential upside of 68.58% from the stock’s previous close.

A number of other research firms have also weighed in on ARDT. Morgan Stanley reduced 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 note on Tuesday, January 21st. 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. 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, Truist Financial reduced their target price 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. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Ardent Health Partners has an average rating of “Buy” and an average target price of $21.18.

Ardent Health Partners Stock Performance

Shares of ARDT traded down $0.06 during mid-day trading on Wednesday, hitting $13.05. The stock had a trading volume of 26,552 shares, compared to its average volume of 460,011. Ardent Health Partners has a 52 week low of $12.88 and a 52 week high of $20.72. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.78 and a current ratio of 1.91. The business has a fifty day moving average price of $14.45 and a 200-day moving average price of $16.33.

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

Hedge Funds Weigh In On Ardent Health Partners

A number of hedge funds have recently modified their holdings of ARDT. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ardent Health Partners during the fourth quarter worth about $27,000. US Bancorp DE bought a new position in Ardent Health Partners during the 4th quarter valued at approximately $31,000. R Squared Ltd purchased a new stake in Ardent Health Partners in the 4th quarter worth approximately $37,000. BNP Paribas Financial Markets bought a new stake in shares of Ardent Health Partners in the 3rd quarter worth approximately $42,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Ardent Health Partners during the fourth quarter valued at approximately $48,000.

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.