Ardent Health Partners, LLC (NYSE:ARDT - Get Free Report)'s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $14.01, but opened at $15.59. Ardent Health Partners shares last traded at $15.15, with a volume of 151,385 shares.
The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.31. The firm had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.48 billion.
Analyst Upgrades and Downgrades
A number of research firms recently commented on ARDT. Morgan Stanley lowered their price target on shares of Ardent Health Partners from $23.50 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 21st. Stephens reaffirmed an "overweight" rating and set a $22.00 target price on shares of Ardent Health Partners in a report on Thursday. Royal Bank of Canada reiterated an "outperform" rating and issued a $23.00 price target on shares of Ardent Health Partners in a research note on Thursday, November 14th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $20.00 price target on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Finally, Bank of America cut Ardent Health Partners from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $22.00 to $19.00 in a report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $21.36.
Check Out Our Latest Stock Report on ARDT
Institutional Trading of Ardent Health Partners
Several institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in Ardent Health Partners in the fourth quarter valued at about $27,000. Squarepoint Ops LLC boosted its stake in shares of Ardent Health Partners by 1.8% in the 4th quarter. Squarepoint Ops LLC now owns 101,798 shares of the company's stock valued at $1,739,000 after purchasing an additional 1,798 shares in the last quarter. US Bancorp DE bought a new stake in shares of Ardent Health Partners during the 4th quarter valued at approximately $31,000. Bank of New York Mellon Corp increased its position in Ardent Health Partners by 8.2% during the 4th quarter. Bank of New York Mellon Corp now owns 25,615 shares of the company's stock worth $438,000 after purchasing an additional 1,941 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Ardent Health Partners by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 142,563 shares of the company's stock valued at $2,435,000 after purchasing an additional 2,127 shares during the last quarter.
Ardent Health Partners Stock Up 2.6 %
The company's 50 day moving average is $15.20 and its 200 day moving average is $16.84. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.91 and a quick ratio of 1.78.
About Ardent Health Partners
(
Get Free Report)
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.
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