Pier Capital LLC Acquires 154,077 Shares of Ardent Health Partners, LLC (NYSE:ARDT)

Pier Capital LLC raised its holdings in shares of Ardent Health Partners, LLC (NYSE:ARDT) by 70.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 373,904 shares of the company’s stock after purchasing an additional 154,077 shares during the period. Pier Capital LLC owned 0.26% of Ardent Health Partners worth $6,386,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ARDT. Wellington Management Group LLP bought a new position in Ardent Health Partners during the 3rd quarter valued at approximately $28,724,000. Point72 Asset Management L.P. purchased a new stake in shares of Ardent Health Partners in the third quarter worth $27,428,000. Goldentree Asset Management LP bought a new position in shares of Ardent Health Partners during the third quarter valued at $22,897,000. Franklin Resources Inc. purchased a new position in shares of Ardent Health Partners in the 3rd quarter worth about $15,839,000. Finally, Segall Bryant & Hamill LLC bought a new position in Ardent Health Partners in the 4th quarter worth about $4,478,000.

Ardent Health Partners Stock Performance

ARDT stock opened at $13.30 on Tuesday. The business’s 50-day moving average is $14.47 and its two-hundred day moving average is $16.37. Ardent Health Partners, LLC has a fifty-two week low of $13.07 and a fifty-two week high of $20.72. 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 (NYSE:ARDT) last issued its quarterly earnings data 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 business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, research analysts forecast that Ardent Health Partners, LLC will post 1.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ARDT. 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 for the company in a research note on Tuesday, March 4th. 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. Morgan Stanley cut their target price on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Truist Financial decreased their price target on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $22.00 price objective on shares of Ardent Health Partners in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $21.18.

Ardent Health Partners 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.