Royal Bank of Canada Issues Pessimistic Forecast for Ardent Health Partners (NYSE:ARDT) Stock Price

Ardent Health Partners (NYSE:ARDT - Get Free Report) had its price target cut by research analysts at Royal Bank of Canada from $23.00 to $21.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Royal Bank of Canada's price objective would suggest a potential upside of 40.18% from the stock's previous close.

A number of other equities research analysts also recently commented on ARDT. Stephens reiterated an "overweight" rating and set a $22.00 price target on shares of Ardent Health Partners in a report on Thursday, February 27th. Leerink Partners lifted their price target 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. Truist Financial lowered their price target on shares of Ardent Health Partners from $22.00 to $21.00 and set a "buy" rating for the company in a report on Monday, January 6th. Bank of America downgraded shares of Ardent Health Partners from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $22.00 to $19.00 in a report on Wednesday, November 6th. Finally, Morgan Stanley lowered 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. 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 stock. According to data from MarketBeat.com, Ardent Health Partners currently has an average rating of "Buy" and an average price target of $21.18.

Ardent Health Partners Stock Down 2.2 %

ARDT traded down $0.34 during midday trading on Tuesday, reaching $14.98. 422,873 shares of the company's stock were exchanged, compared to its average volume of 413,671. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.78 and a current ratio of 1.91. The business's 50-day moving average price is $15.15 and its 200 day moving average price is $16.80. Ardent Health Partners has a 1-year low of $13.55 and a 1-year high of $20.72.

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

Institutional Investors Weigh In On Ardent Health Partners

A number of institutional investors have recently bought and sold shares of ARDT. Charles Schwab Investment Management Inc. purchased a new stake in Ardent Health Partners during the third quarter worth approximately $526,000. BNP Paribas Financial Markets purchased a new stake in Ardent Health Partners during the third quarter worth approximately $42,000. MetLife Investment Management LLC purchased a new stake in Ardent Health Partners during the third quarter worth approximately $135,000. Goldentree Asset Management LP purchased a new stake in Ardent Health Partners during the third quarter worth approximately $22,897,000. Finally, Centiva Capital LP purchased a new stake in Ardent Health Partners during the third quarter worth approximately $469,000.

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.