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

ARDT has been the subject of several research reports. Stephens restated an “overweight” rating and set a $24.00 price objective on shares of Ardent Health Partners in a research report on Thursday, September 19th. Truist Financial initiated coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They issued a “buy” rating and a $21.00 price objective on the stock. Bank of America cut shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $19.00 in a research note on Wednesday. Royal Bank of Canada initiated coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They set an “outperform” rating and a $23.00 price target on the stock. Finally, Leerink Partnrs upgraded shares of Ardent Health Partners to a “strong-buy” rating in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $21.64.

Ardent Health Partners Price Performance

NYSE ARDT traded down $1.17 during mid-day trading on Friday, reaching $16.37. 383,726 shares of the stock were exchanged, 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 company has a 50 day moving average of $18.42. Ardent Health Partners has a one year low of $14.57 and a one year high of $20.72.

Ardent Health Partners (NYSE:ARDT) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. On average, sell-side analysts forecast 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.