Ardent Health (NYSE:ARDT) Sees Large Volume Increase – Here’s What Happened

Ardent Health, Inc. (NYSE:ARDT) saw an uptick in trading volume on Thursday . 675,650 shares traded hands during trading, an increase of 63% from the previous session’s volume of 414,281 shares.The stock last traded at $8.2450 and had previously closed at $7.83.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ARDT. Royal Bank Of Canada reduced their target price on Ardent Health from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Monday, March 9th. UBS Group upped their target price on Ardent Health from $13.00 to $13.50 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen raised Ardent Health from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Leerink Partners reduced their target price on Ardent Health from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, March 6th. Finally, Zacks Research raised Ardent Health from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 25th. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $14.21.

Ardent Health Stock Performance

The firm has a 50 day moving average of $9.40 and a 200-day moving average of $9.10. The stock has a market capitalization of $1.25 billion, a PE ratio of 9.19, a P/E/G ratio of 1.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.00 and a current ratio of 2.12.

Ardent Health (NYSE:ARDT) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.10. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.58 billion. Ardent Health had a return on equity of 13.85% and a net margin of 2.09%.Ardent Health has set its FY 2026 guidance at 0.900-1.270 EPS. Research analysts forecast that Ardent Health, Inc. will post 1.12 earnings per share for the current year.

Institutional Investors Weigh In On Ardent Health

Hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its stake in Ardent Health by 1,177.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,862 shares of the company’s stock worth $25,000 after acquiring an additional 2,638 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Ardent Health in the 3rd quarter worth about $61,000. Monetary Solutions Ltd purchased a new stake in Ardent Health in the 4th quarter worth about $79,000. New York State Common Retirement Fund lifted its stake in Ardent Health by 121.4% in the 2nd quarter. New York State Common Retirement Fund now owns 6,200 shares of the company’s stock worth $85,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Abel Hall LLC purchased a new stake in Ardent Health in the 1st quarter worth about $87,000.

About Ardent Health

Ardent Health, listed on the New York Stock Exchange under the ticker ARDT, is a healthcare delivery company focused on acquiring, developing and managing acute care hospitals and complementary outpatient facilities across the United States. The company’s integrated platform encompasses both inpatient and outpatient services, designed to provide end-to-end care solutions and address the full continuum of patient needs.

Through its network, Ardent Health operates general hospitals, emergency departments, ambulatory surgery centers, urgent care clinics, rehabilitation and post-acute care facilities.