Ardent Health (NYSE:ARDT) Price Target Cut to $10.00 by Analysts at Bank of America

Ardent Health (NYSE:ARDT) had its target price reduced by Bank of America from $12.00 to $10.00 in a research report released on Thursday morning,Benzinga reports. They currently have an underperform rating on the stock.

ARDT has been the subject of a number of other research reports. KeyCorp lowered their price objective on Ardent Health from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. The Goldman Sachs Group started coverage on Ardent Health in a report on Tuesday, October 14th. They set a “neutral” rating and a $19.00 price target on the stock. UBS Group started coverage on Ardent Health in a report on Wednesday, September 10th. They issued a “buy” rating and a $17.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on Ardent Health from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. Finally, Wall Street Zen raised shares of Ardent Health from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 9th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.92.

Ardent Health Trading Down 2.8%

Shares of Ardent Health stock traded down $0.27 on Thursday, hitting $9.04. The stock had a trading volume of 1,914,573 shares, compared to its average volume of 512,810. The company has a quick ratio of 2.00, a current ratio of 2.13 and a debt-to-equity ratio of 0.66. Ardent Health has a one year low of $8.85 and a one year high of $17.91. The stock’s 50-day simple moving average is $13.80 and its two-hundred day simple moving average is $13.34. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 4.35, a PEG ratio of 7.98 and a beta of 0.44.

Ardent Health (NYSE:ARDT) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.10. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Ardent Health had a return on equity of 19.19% and a net margin of 3.24%. Ardent Health has set its FY 2025 guidance at 0.850-1.030 EPS. As a group, sell-side analysts predict that Ardent Health will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Ardent Health

Several institutional investors have recently bought and sold shares of ARDT. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Ardent Health during the third quarter worth $6,377,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Ardent Health during the 3rd quarter worth $61,000. Bridgeway Capital Management LLC acquired a new position in Ardent Health during the 3rd quarter valued at about $6,024,000. Squarepoint Ops LLC purchased a new stake in Ardent Health in the third quarter valued at about $145,000. Finally, Comerica Bank boosted its holdings in Ardent Health by 24.9% in the third quarter. Comerica Bank now owns 23,579 shares of the company’s stock worth $312,000 after acquiring an additional 4,703 shares in the last quarter.

Ardent Health 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.