Ardent Health Partners (NYSE:ARDT) Shares Up 4.6% – Here’s What Happened

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on ARDT. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 price target on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Stephens restated an “overweight” rating and issued a $22.00 target price on shares of Ardent Health Partners in a report on Tuesday. Royal Bank of Canada reduced their price objective 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. Morgan Stanley dropped their target price on 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. Finally, 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 research report on Monday, January 6th. Two investment 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. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $21.18.

Ardent Health Partners Price Performance

The firm’s 50 day simple moving average is $14.38 and its two-hundred day simple moving average is $16.15. 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 issued its earnings results on Wednesday, February 26th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.31. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.48 billion. Equities research analysts predict that Ardent Health Partners, LLC will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ardent Health Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Ardent Health Partners during the 4th quarter valued at $27,000. US Bancorp DE bought a new position in shares of Ardent Health Partners during the 4th quarter valued at about $31,000. R Squared Ltd acquired a new position in shares of 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 acquired a new stake in Ardent Health Partners during the fourth quarter valued at approximately $48,000.

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.