Stephens Reaffirms "Overweight" Rating for Ardent Health Partners (NYSE:ARDT)

Ardent Health Partners (NYSE:ARDT - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at Stephens in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $22.00 price objective on the stock. Stephens' price objective points to a potential upside of 80.03% from the company's previous close.

A number of other analysts have also weighed in on ARDT. Royal Bank of Canada reduced 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. Truist Financial reduced 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 research report on Monday, January 6th. Morgan Stanley lowered their price objective on 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. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $20.00 target price on shares of Ardent Health Partners in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $21.18.

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Ardent Health Partners Stock Performance

Shares of ARDT stock traded down $0.57 during trading hours on Tuesday, hitting $12.22. 317,601 shares of the company's stock traded hands, compared to its average volume of 407,381. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.91 and a quick ratio of 1.78. The stock's fifty day simple moving average is $14.25 and its two-hundred day simple moving average is $16.07. Ardent Health Partners has a 12-month low of $12.13 and a 12-month high of $20.72.

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

Institutional Investors Weigh In On Ardent Health Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp bought a new stake in shares of Ardent Health Partners during the 3rd quarter valued at $1,977,000. Jane Street Group LLC purchased a new stake in Ardent Health Partners in the 3rd quarter worth $567,000. Barclays PLC bought a new stake in Ardent Health Partners during the third quarter valued at about $385,000. Geode Capital Management LLC purchased a new position in shares of Ardent Health Partners in the third quarter valued at about $2,581,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Ardent Health Partners in the third quarter worth about $154,000.

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.