Ardent Health Partners (NYSE:ARDT) Trading 4.6% Higher – Still a Buy?

Ardent Health Partners, LLC (NYSE:ARDT)’s stock price shot up 4.6% during trading on Monday . The company traded as high as $13.69 and last traded at $13.81. 359,383 shares changed hands during trading, a decline of 11% from the average session volume of 404,587 shares. The stock had previously closed at $13.20.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ARDT shares. Truist Financial lowered their price target 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. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 target price on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Royal Bank of Canada reduced their price target on shares of 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. 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. Finally, Stephens reiterated an “overweight” rating and set a $22.00 price objective on shares of Ardent Health Partners in a research note on Wednesday, March 26th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Ardent Health Partners has a consensus rating of “Buy” and an average price target of $21.18.

Ardent Health Partners Price Performance

The company has a 50-day moving average price of $14.41 and a 200-day moving average price of $16.22. 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 (NYSE:ARDT) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.31. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, analysts predict that Ardent Health Partners, LLC will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Ardent Health Partners

Large investors have recently bought and sold shares of the stock. Ventas Inc. acquired a new position in shares of Ardent Health Partners during the fourth quarter valued at approximately $159,570,000. Wellington Management Group LLP bought a new position in Ardent Health Partners during the 3rd quarter valued at $28,724,000. Point72 Asset Management L.P. acquired a new position in shares of Ardent Health Partners during the 3rd quarter valued at $27,428,000. Franklin Resources Inc. bought a new stake in shares of Ardent Health Partners in the 3rd quarter worth $15,839,000. Finally, Segall Bryant & Hamill LLC bought a new position in Ardent Health Partners during the fourth quarter valued at about $4,478,000.

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.