Ardent Health Partners (NYSE:ARDT) Issues FY 2024 Earnings Guidance

Ardent Health Partners (NYSE:ARDT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 1.230-1.370 for the period, compared to the consensus earnings per share estimate of 1.260. The company issued revenue guidance of $5.8 billion-$5.9 billion, compared to the consensus revenue estimate of $5.8 billion.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Leerink Partnrs raised Ardent Health Partners to a “strong-buy” rating in a research note on Monday, August 12th. Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of Ardent Health Partners in a research note on Thursday, September 19th. Loop Capital started coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued a “buy” rating and a $18.00 target price on the stock. Royal Bank of Canada started coverage on Ardent Health Partners in a research note on Monday, August 12th. They set an “outperform” rating and a $23.00 price target for the company. Finally, Truist Financial assumed coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued a “buy” rating and a $21.00 price target for the company. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Ardent Health Partners has a consensus rating of “Buy” and an average price target of $21.64.

Ardent Health Partners Trading Down 6.7 %

ARDT stock traded down $1.17 during midday trading on Friday, hitting $16.37. 383,726 shares of the company traded hands, compared to its average volume of 380,187. The company has a quick ratio of 1.54, a current ratio of 1.65 and a debt-to-equity ratio of 0.93. The firm’s 50 day simple moving average is $18.42. Ardent Health Partners has a twelve month low of $14.57 and a twelve month high of $20.72.

Ardent Health Partners (NYSE:ARDT) last announced its earnings results on Wednesday, August 14th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Equities analysts predict that Ardent Health Partners will post 1.26 EPS for the current year.

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.