Bank of America Downgrades Ardent Health Partners (NYSE:ARDT) to Neutral

Ardent Health Partners (NYSE:ARDT - Get Free Report) was downgraded by analysts at Bank of America from a "buy" rating to a "neutral" rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $19.00 price objective on the stock, down from their previous price objective of $22.00. Bank of America's price objective would suggest a potential upside of 16.92% from the stock's current price.

ARDT has been the topic of a number of other research reports. Mizuho started coverage on Ardent Health Partners in a report on Monday, August 12th. They issued an "outperform" rating and a $20.00 price objective on the stock. KeyCorp started coverage on shares of Ardent Health Partners in a research report on Friday, October 11th. They set an "overweight" rating and a $24.00 price target on the stock. Stephens reiterated an "overweight" rating and issued a $24.00 price objective on shares of Ardent Health Partners in a report on Thursday, September 19th. Truist Financial assumed coverage on Ardent Health Partners in a report on Monday, August 12th. They set a "buy" rating and a $21.00 target price on the stock. Finally, Leerink Partnrs raised Ardent Health Partners to a "strong-buy" rating in a report on Monday, August 12th. Two 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $21.64.

Ardent Health Partners Stock Down 10.0 %

Shares of NYSE ARDT traded down $1.80 during trading on Wednesday, hitting $16.25. The company had a trading volume of 563,339 shares, compared to its average volume of 377,330. The firm's fifty day simple moving average is $18.53. The company has a quick ratio of 1.54, a current ratio of 1.65 and a debt-to-equity ratio of 0.93. Ardent Health Partners has a fifty-two week low of $15.00 and a fifty-two week high of $20.72.

Ardent Health Partners (NYSE:ARDT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Equities analysts predict that Ardent Health Partners will post 1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Financial Management Professionals Inc. purchased a new stake in shares of Ardent Health Partners in the 3rd quarter valued at approximately $50,000. Seven Grand Managers LLC acquired a new stake in Ardent Health Partners in the 3rd quarter valued at approximately $2,298,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Ardent Health Partners in the third quarter valued at approximately $13,119,000.

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.