Ardent Health Partners (NYSE:ARDT) Shares Gap Up Following Earnings Beat

Ardent Health Partners, LLC (NYSE:ARDT) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $14.01, but opened at $15.59. Ardent Health Partners shares last traded at $15.15, with a volume of 151,385 shares.

The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.31. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.48 billion.

Analyst Ratings Changes

Several brokerages recently commented on ARDT. Truist Financial dropped their price target on shares of 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. Morgan Stanley dropped their price objective on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Ardent Health Partners in a research report on Thursday, November 14th. Stephens reissued an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research report on Thursday. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $20.00 price objective on shares of Ardent Health Partners in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $21.36.

Institutional Investors Weigh In On Ardent Health Partners

A number of large investors have recently modified their holdings of the stock. State Street Corp purchased a new position in Ardent Health Partners in the 3rd quarter worth approximately $1,977,000. Jane Street Group LLC purchased a new position in shares of Ardent Health Partners in the third quarter valued at $567,000. Goldentree Asset Management LP acquired a new stake in Ardent Health Partners during the 3rd quarter valued at $22,897,000. Barclays PLC purchased a new stake in Ardent Health Partners during the 3rd quarter worth $385,000. Finally, Geode Capital Management LLC acquired a new position in Ardent Health Partners in the 3rd quarter worth $2,581,000.

Ardent Health Partners Price Performance

The business’s 50-day simple moving average is $15.25 and its two-hundred day simple moving average is $16.85. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.91 and a quick ratio of 1.78.

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.