Ardent Health Partners (NYSE:ARDT) Shares Gap Up – Still a Buy?

Ardent Health Partners, LLC (NYSE:ARDT)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $16.69, but opened at $17.10. Ardent Health Partners shares last traded at $16.93, with a volume of 45,373 shares traded.

Analyst Upgrades and Downgrades

ARDT has been the topic of a number of research analyst reports. Stephens reissued an “overweight” rating and set a $24.00 price target on shares of Ardent Health Partners in a report on Thursday, September 19th. JPMorgan Chase & Co. restated a “neutral” rating and set a $20.00 price target on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Bank of America lowered shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $19.00 in a research note on Wednesday, November 6th. KeyCorp began coverage on shares of Ardent Health Partners in a research note on Friday, October 11th. They set an “overweight” rating and a $24.00 price objective on the stock. Finally, Leerink Partners upped their target price on Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $22.00.

Ardent Health Partners Price Performance

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 firm’s fifty day simple moving average is $16.97.

Institutional Investors Weigh In On Ardent Health Partners

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new position in Ardent Health Partners in the 3rd quarter worth about $42,000. Financial Management Professionals Inc. acquired a new position in shares of Ardent Health Partners in the third quarter worth about $50,000. MetLife Investment Management LLC purchased a new position in shares of Ardent Health Partners in the third quarter worth approximately $135,000. JPMorgan Chase & Co. acquired a new stake in shares of Ardent Health Partners during the third quarter valued at approximately $154,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Ardent Health Partners in the 3rd quarter valued at approximately $229,000.

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.