Ardent Health Partners, LLC’s Lock-Up Period Set To End on January 14th (NYSE:ARDT)

Ardent Health Partners’ (NYSE:ARDT) lock-up period will expire on Tuesday, January 14th. Ardent Health Partners had issued 12,000,000 shares in its IPO on July 18th. The total size of the offering was $192,000,000 based on an initial share price of $16.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the end of the lock-up period.

Wall Street Analyst Weigh In

Several research firms recently commented on ARDT. Truist Financial cut their price objective on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, January 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. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Ardent Health Partners in a report on Thursday, November 14th. Leerink Partners lifted their target price on Ardent Health Partners from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, Bank of America downgraded 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 research report on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Ardent Health Partners currently has a consensus rating of “Buy” and an average target price of $22.00.

Ardent Health Partners Stock Performance

ARDT stock opened at $15.84 on Friday. Ardent Health Partners has a twelve month low of $14.57 and a twelve month high of $20.72. The company has a 50 day moving average of $16.60. The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 0.78.

Institutional Trading of Ardent Health Partners

A number of large investors have recently added to or reduced their stakes in ARDT. BNP Paribas Financial Markets acquired a new position in shares of Ardent Health Partners during the 3rd quarter worth about $42,000. Financial Management Professionals Inc. bought a new position in Ardent Health Partners during the third quarter worth about $50,000. MetLife Investment Management LLC bought a new position in Ardent Health Partners during the third quarter worth about $135,000. JPMorgan Chase & Co. acquired a new position in Ardent Health Partners during the third quarter worth approximately $154,000. Finally, Quadrature Capital Ltd bought a new stake in Ardent Health Partners in the third quarter valued at approximately $229,000.

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.