Ardent Health Partners (NYSE:ARDT) Shares Up 4.6% - Time to Buy?

Ardent Health Partners, LLC (NYSE:ARDT - Get Free Report)'s share price was up 4.6% during mid-day trading on Monday . The stock traded as high as $13.69 and last traded at $13.81. Approximately 359,383 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 404,587 shares. The stock had previously closed at $13.20.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley reduced their price target on shares of Ardent Health Partners from $23.50 to $22.00 and set an "overweight" rating for the company in a report on Tuesday, January 21st. Royal Bank of Canada decreased their target price on Ardent Health Partners from $23.00 to $21.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 4th. Stephens reaffirmed an "overweight" rating and issued a $22.00 price target on shares of Ardent Health Partners in a report on Tuesday. Truist Financial decreased their price objective on Ardent Health Partners from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $20.00 target price on shares of Ardent Health Partners in a research note on Tuesday, December 17th. 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $21.18.

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Ardent Health Partners Stock Down 4.5 %

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 firm's fifty day moving average is $14.29 and its 200-day moving average is $16.10.

Ardent Health Partners (NYSE:ARDT - Get Free Report) last posted 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 business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, equities research analysts expect that Ardent Health Partners, LLC will post 1.23 EPS for the current fiscal year.

Institutional Trading of Ardent Health Partners

Several hedge funds have recently modified their holdings of the stock. Ventas Inc. acquired a new position in Ardent Health Partners during the 4th quarter worth $159,570,000. Wellington Management Group LLP bought a new position in Ardent Health Partners in the third quarter valued at about $28,724,000. Point72 Asset Management L.P. acquired a new stake in Ardent Health Partners in the third quarter worth about $27,428,000. Franklin Resources Inc. bought a new stake in Ardent Health Partners during the 3rd quarter worth about $15,839,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Ardent Health Partners during the 4th quarter valued at about $4,478,000.

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.