Ardent Health Partners (NYSE:ARDT) Trading 4.6% Higher – Here’s What Happened

Shares of Ardent Health Partners, LLC (NYSE:ARDT) were up 4.6% on Monday . The stock traded as high as $13.69 and last traded at $13.81. Approximately 359,383 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 404,587 shares. The stock had previously closed at $13.20.

Analysts Set New Price Targets

Several equities research analysts have issued reports on ARDT shares. Stephens reaffirmed an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research note on Wednesday, March 26th. Royal Bank of Canada decreased their target price on shares of Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley cut their price target on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. restated a “neutral” rating and set a $20.00 price objective on shares of Ardent Health Partners in a report on Tuesday, December 17th. Finally, Truist Financial dropped their target price on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, January 6th. 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 MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $21.18.

Ardent Health Partners Stock Up 4.4 %

The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. The stock’s fifty day moving average is $14.41 and its two-hundred day moving average is $16.22.

Ardent Health Partners (NYSE:ARDT) last announced its earnings results on Wednesday, February 26th. The company reported $0.81 earnings per share for the quarter, beating the consensus estimate 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. Equities analysts forecast that Ardent Health Partners, LLC will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Ardent Health Partners

Institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ardent Health Partners during the fourth quarter worth approximately $27,000. Squarepoint Ops LLC boosted its stake in Ardent Health Partners by 1.8% during the 4th quarter. Squarepoint Ops LLC now owns 101,798 shares of the company’s stock valued at $1,739,000 after acquiring an additional 1,798 shares during the last quarter. US Bancorp DE acquired a new position in Ardent Health Partners during the 4th quarter worth $31,000. Bank of New York Mellon Corp increased its position in shares of Ardent Health Partners by 8.2% in the 4th quarter. Bank of New York Mellon Corp now owns 25,615 shares of the company’s stock worth $438,000 after purchasing an additional 1,941 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Ardent Health Partners by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 142,563 shares of the company’s stock worth $2,435,000 after purchasing an additional 2,127 shares during the last quarter.

About Ardent Health Partners

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.