Ardent Health Partners (NYSE:ARDT) Shares Up 5.2% – Here’s Why

Shares of Ardent Health Partners, LLC (NYSE:ARDT) rose 5.2% during trading on Thursday . The company traded as high as $17.90 and last traded at $17.89. Approximately 64,355 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 371,672 shares. The stock had previously closed at $17.00.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ARDT. Citigroup initiated coverage on shares of Ardent Health Partners in a research report on Monday, August 12th. They set a “buy” rating and a $21.00 price objective on the stock. Morgan Stanley began coverage on Ardent Health Partners in a research note on Monday, August 12th. They set an “overweight” rating and a $27.00 price target for the company. Bank of America cut Ardent Health Partners from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $19.00 in a report on Wednesday, November 6th. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Ardent Health Partners in a research report on Thursday. Finally, Truist Financial began coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued a “buy” rating and a $21.00 target price for the company. 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. According to data from MarketBeat.com, Ardent Health Partners has a consensus rating of “Buy” and a consensus target price of $21.82.

Ardent Health Partners Stock Down 6.9 %

The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average of $18.18.

Ardent Health Partners (NYSE:ARDT) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. On average, research analysts forecast that Ardent Health Partners, LLC will post 1.25 EPS for the current fiscal year.

Institutional Trading of Ardent Health Partners

Large investors have recently modified their holdings of the business. Seven Grand Managers LLC purchased a new stake in Ardent Health Partners in the 3rd quarter worth approximately $2,298,000. Allspring Global Investments Holdings LLC purchased a new stake in Ardent Health Partners in the third quarter worth $13,119,000. Financial Management Professionals Inc. purchased a new stake in Ardent Health Partners in the third quarter worth $50,000. Charles Schwab Investment Management Inc. purchased a new position in Ardent Health Partners during the 3rd quarter valued at $526,000. Finally, BNP Paribas Financial Markets bought a new position in Ardent Health Partners in the 3rd quarter worth $42,000.

About Ardent Health Partners

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.