Franklin Resources Inc. Buys 78,575 Shares of Ardent Health Partners, LLC (NYSE:ARDT)

Franklin Resources Inc. grew its stake in shares of Ardent Health Partners, LLC (NYSE:ARDT) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 917,926 shares of the company’s stock after purchasing an additional 78,575 shares during the quarter. Franklin Resources Inc. owned approximately 0.64% of Ardent Health Partners worth $15,678,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ARDT. US Bancorp DE purchased a new stake in Ardent Health Partners during the 4th quarter valued at $31,000. R Squared Ltd purchased a new stake in shares of Ardent Health Partners during the fourth quarter worth about $37,000. BNP Paribas Financial Markets bought a new stake in shares of Ardent Health Partners in the third quarter worth about $42,000. New York State Common Retirement Fund purchased a new position in Ardent Health Partners during the 4th quarter valued at about $48,000. Finally, MetLife Investment Management LLC bought a new position in Ardent Health Partners during the 3rd quarter valued at approximately $135,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 price objective on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Stephens reissued an “overweight” rating and set a $22.00 price objective on shares of Ardent Health Partners in a research report on Tuesday, April 1st. Royal Bank of Canada decreased their price objective on shares of Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating for the company in a report on Tuesday, March 4th. Morgan Stanley cut their target price on shares of Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Finally, Truist Financial decreased their price target on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two 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 company. According to MarketBeat, Ardent Health Partners has a consensus rating of “Buy” and a consensus target price of $21.18.

Ardent Health Partners Stock Down 1.3 %

ARDT stock opened at $12.04 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. The firm has a 50 day moving average price of $14.19 and a 200-day moving average price of $16.01. Ardent Health Partners, LLC has a 52-week low of $11.60 and a 52-week high of $20.72.

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 company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.48 billion. As a group, research analysts forecast that Ardent Health Partners, LLC will post 1.23 EPS for the current year.

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.