Stephens Reiterates Overweight Rating for Ardent Health Partners (NYSE:ARDT)

Ardent Health Partners (NYSE:ARDT)‘s stock had its “overweight” rating reiterated by analysts at Stephens in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $22.00 target price on the stock. Stephens’ price objective suggests a potential upside of 72.45% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Truist Financial decreased their price objective on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a report on Monday, January 6th. Royal Bank of Canada dropped 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 note on Tuesday, March 4th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 target price on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Finally, Morgan Stanley reduced their price target on 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. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $21.18.

Ardent Health Partners Trading Down 7.2 %

Ardent Health Partners stock traded down $0.99 during mid-day trading on Tuesday, reaching $12.76. 178,293 shares of the company traded hands, compared to its average volume of 404,934. The firm’s 50 day moving average price is $14.40 and its 200 day moving average price is $16.19. Ardent Health Partners has a 52-week low of $12.39 and a 52-week high of $20.72. 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 (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. On average, sell-side analysts anticipate that Ardent Health Partners will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardent Health Partners

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