Ardent Health (NYSE:ARDT) Downgraded by Zacks Research to Strong Sell

Ardent Health (NYSE:ARDT) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Thursday,Zacks.com reports.

ARDT has been the topic of a number of other reports. Wall Street Zen cut Ardent Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Royal Bank Of Canada reduced their price target on Ardent Health from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. The Goldman Sachs Group reiterated a “neutral” rating and set a $13.00 price target on shares of Ardent Health in a research report on Thursday. Truist Financial raised their price objective on Ardent Health from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday. Finally, Guggenheim boosted their price objective on Ardent Health from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday. Seven analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.95.

Ardent Health Price Performance

Shares of NYSE ARDT opened at $11.57 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.12 and a quick ratio of 2.00. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 21.04, a PEG ratio of 3.33 and a beta of 0.70. The firm’s 50 day simple moving average is $9.98 and its 200-day simple moving average is $9.50. Ardent Health has a 12 month low of $7.71 and a 12 month high of $15.48.

Ardent Health (NYSE:ARDT) last posted its earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). The firm had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.59 billion. Ardent Health had a net margin of 1.22% and a return on equity of 10.45%. Ardent Health has set its FY 2026 guidance at 0.780-1.150 EPS. Analysts expect that Ardent Health will post 0.95 EPS for the current year.

Insider Activity

In related news, CFO Alfred Lumsdaine bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $8.81 per share, with a total value of $88,100.00. Following the transaction, the chief financial officer directly owned 329,183 shares of the company’s stock, valued at approximately $2,900,102.23. This represents a 3.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its stake in shares of Ardent Health by 1,177.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,862 shares of the company’s stock worth $25,000 after purchasing an additional 2,638 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Ardent Health during the third quarter worth about $61,000. Monetary Solutions Ltd acquired a new stake in shares of Ardent Health in the 4th quarter worth approximately $79,000. New York State Common Retirement Fund grew its holdings in Ardent Health by 121.4% in the second quarter. New York State Common Retirement Fund now owns 6,200 shares of the company’s stock valued at $85,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Abel Hall LLC purchased a new position in Ardent Health during the 1st quarter valued at 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.