Ardent Health Partners (NYSE:ARDT) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Ardent Health Partners (NYSE:ARDT) in a research report released on Thursday,Benzinga reports. Royal Bank of Canada currently has a $23.00 target price on the stock.

A number of other equities analysts have also weighed in on ARDT. Leerink Partnrs upgraded shares of Ardent Health Partners to a “strong-buy” rating in a research report on Monday, August 12th. Bank of America downgraded Ardent Health Partners from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $19.00 in a report on Wednesday, November 6th. Loop Capital started coverage on Ardent Health Partners in a report on Monday, August 12th. They issued a “buy” rating and a $18.00 target price for the company. Truist Financial initiated coverage on Ardent Health Partners in a research note on Monday, August 12th. They set a “buy” rating and a $21.00 price target for the company. Finally, Morgan Stanley began coverage on Ardent Health Partners in a report on Monday, August 12th. They issued an “overweight” rating and a $27.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ardent Health Partners currently has an average rating of “Buy” and an average target price of $21.82.

Ardent Health Partners Stock Performance

NYSE:ARDT traded down $1.14 during midday trading on Thursday, reaching $16.67. The stock had a trading volume of 100,643 shares, compared to its average volume of 370,529. The business’s fifty day simple moving average is $18.27. Ardent Health Partners has a 12-month low of $14.57 and a 12-month 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 posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. On average, sell-side analysts expect that Ardent Health Partners will post 1.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARDT. Quadrature Capital Ltd bought a new position in shares of Ardent Health Partners in the third quarter worth $229,000. Point72 Asset Management L.P. purchased a new stake in shares of Ardent Health Partners during the third quarter valued at $27,428,000. Centiva Capital LP purchased a new stake in shares of Ardent Health Partners during the third quarter valued at $469,000. Goldentree Asset Management LP purchased a new stake in Ardent Health Partners in the 3rd quarter worth about $22,897,000. Finally, MetLife Investment Management LLC purchased a new stake in Ardent Health Partners in the 3rd quarter worth about $135,000.

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.