Pier Capital LLC Boosts Stake in Ardent Health Partners, LLC (NYSE:ARDT)

Pier Capital LLC increased its holdings in shares of Ardent Health Partners, LLC (NYSE:ARDT - Free Report) by 70.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 373,904 shares of the company's stock after acquiring an additional 154,077 shares during the period. Pier Capital LLC owned approximately 0.26% of Ardent Health Partners worth $6,386,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. US Bancorp DE acquired a new position in shares of Ardent Health Partners during the 4th quarter worth $31,000. Bank of New York Mellon Corp grew its position in Ardent Health Partners by 8.2% during the fourth quarter. Bank of New York Mellon Corp now owns 25,615 shares of the company's stock worth $438,000 after buying an additional 1,941 shares during the period. R Squared Ltd purchased a new position in Ardent Health Partners in the fourth quarter valued at about $37,000. BNP Paribas Financial Markets acquired a new stake in shares of Ardent Health Partners during the 3rd quarter valued at approximately $42,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Ardent Health Partners during the 4th quarter worth approximately $48,000.

Ardent Health Partners Price Performance

ARDT stock traded up $0.02 during midday trading on Friday, hitting $13.18. The stock had a trading volume of 338,692 shares, compared to its average volume of 404,640. Ardent Health Partners, LLC has a 12-month low of $12.87 and a 12-month high of $20.72. The company's 50-day moving average price is $14.41 and its 200 day moving average price is $16.23. The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 0.78.

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Ardent Health Partners (NYSE:ARDT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.31. The business had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.48 billion. Analysts anticipate that Ardent Health Partners, LLC will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ARDT. Morgan Stanley dropped their price objective on Ardent Health Partners from $23.50 to $22.00 and set an "overweight" rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $20.00 price objective on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Stephens restated an "overweight" rating and set a $22.00 target price on shares of Ardent Health Partners in a report on Wednesday. Truist Financial reduced their price target 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. Finally, Royal Bank of Canada dropped their price objective on shares of Ardent Health Partners from $23.00 to $21.00 and set an "outperform" rating for the company in a research note on Tuesday, March 4th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $21.18.

Ardent Health Partners 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.