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

Ardent Health Partners (NYSE:ARDT)‘s stock had its “overweight” rating reiterated by stock analysts at Stephens in a research report issued on Thursday,Benzinga reports. They currently have a $22.00 price objective on the stock. Stephens’ target price would indicate a potential upside of 50.07% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Bank of America downgraded shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $19.00 in a report on Wednesday, November 6th. Truist Financial lowered their price target on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Leerink Partners raised their price objective 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. Royal Bank of Canada reissued an “outperform” rating and set a $23.00 price objective on shares of Ardent Health Partners in a report on Thursday, November 14th. Finally, Morgan Stanley cut their target price on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $21.36.

Ardent Health Partners Stock Performance

Shares of NYSE:ARDT opened at $14.66 on Thursday. The business has a 50 day moving average price of $15.23 and a 200 day moving average price of $16.84. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.78 and a current ratio of 1.91. Ardent Health Partners has a twelve month low of $13.55 and a twelve month high of $20.72.

Ardent Health Partners (NYSE:ARDT) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities analysts predict that Ardent Health Partners will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Ardent Health Partners

Several large investors have recently made changes to their positions in ARDT. Point72 Asia Singapore Pte. Ltd. bought a new position in Ardent Health Partners during the 4th quarter valued at about $27,000. US Bancorp DE bought a new position in shares of Ardent Health Partners in the fourth quarter valued at approximately $31,000. R Squared Ltd bought a new position in shares of Ardent Health Partners in the fourth quarter valued at approximately $37,000. BNP Paribas Financial Markets acquired a new position in shares of Ardent Health Partners in the 3rd quarter worth approximately $42,000. Finally, New York State Common Retirement Fund bought a new stake in Ardent Health Partners during the 4th quarter worth approximately $48,000.

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.