Ardent Health Partners (NYSE:ARDT) Shares Up 5.4% - Time to Buy?

Ardent Health Partners, LLC (NYSE:ARDT - Get Free Report) shot up 5.4% on Monday . The company traded as high as $15.50 and last traded at $15.45. 96,558 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 387,916 shares. The stock had previously closed at $14.66.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ARDT. Bank of America lowered Ardent Health Partners from a "buy" rating to a "neutral" rating and cut their price target for the company from $22.00 to $19.00 in a report on Wednesday, November 6th. Royal Bank of Canada reduced their price target on Ardent Health Partners from $23.00 to $21.00 and set an "outperform" rating for the company in a research report on Tuesday. Truist Financial lowered their price objective on shares of Ardent Health Partners from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Leerink Partners increased their target price on shares of Ardent Health Partners from $23.00 to $25.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. Finally, Stephens reiterated an "overweight" rating and issued a $22.00 price target on shares of Ardent Health Partners in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $21.18.

Ardent Health Partners Price Performance

The business has a fifty day moving average of $15.15 and a 200 day moving average of $16.80. The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78.

Ardent Health Partners (NYSE:ARDT - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.31. The company had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.48 billion. As a group, sell-side analysts predict that Ardent Health Partners, LLC will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ARDT. Ventas Inc. bought a new stake in shares of Ardent Health Partners during the fourth quarter worth approximately $159,570,000. Point72 Asset Management L.P. boosted its stake in Ardent Health Partners by 7.9% in the 4th quarter. Point72 Asset Management L.P. now owns 1,609,720 shares of the company's stock valued at $27,494,000 after purchasing an additional 117,421 shares during the period. Wellington Management Group LLP acquired a new position in Ardent Health Partners in the 3rd quarter valued at $28,724,000. Goldentree Asset Management LP bought a new position in Ardent Health Partners during the 3rd quarter worth $22,897,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Ardent Health Partners by 9.4% during the fourth quarter. Franklin Resources Inc. now owns 917,926 shares of the company's stock worth $15,678,000 after buying an additional 78,575 shares in the last quarter.

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.