Ardent Health Partners (NYSE:ARDT) Cut to “Neutral” at Bank of America

Ardent Health Partners (NYSE:ARDT) was downgraded by analysts at Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, Briefing.com reports. They presently have a $19.00 price target on the stock, down from their prior price target of $22.00. Bank of America‘s price target indicates a potential upside of 5.15% from the company’s current price.

Other equities analysts have also issued reports about the stock. Loop Capital assumed coverage on shares of Ardent Health Partners in a research report on Monday, August 12th. They issued a “buy” rating and a $18.00 price objective on the stock. Stephens reaffirmed an “overweight” rating and issued a $24.00 target price on shares of Ardent Health Partners in a report on Thursday, September 19th. KeyCorp assumed coverage on shares of Ardent Health Partners in a report on Friday, October 11th. They set an “overweight” rating and a $24.00 price target for the company. Royal Bank of Canada started coverage on Ardent Health Partners in a report on Monday, August 12th. They issued an “outperform” rating and a $23.00 price objective on the stock. Finally, Mizuho began coverage on Ardent Health Partners in a research note on Monday, August 12th. They set an “outperform” rating and a $20.00 target price for the company. Two equities 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 stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $21.64.

Ardent Health Partners Stock Performance

NYSE ARDT opened at $18.07 on Wednesday. The company has a fifty day simple moving average of $18.58. Ardent Health Partners has a one year low of $15.00 and a one year high of $20.72. The company has a current ratio of 1.65, a quick ratio of 1.54 and a debt-to-equity ratio of 0.93.

Ardent Health Partners (NYSE:ARDT) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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. As a group, research analysts expect that Ardent Health Partners will post 1.26 earnings per share for the current year.

Hedge Funds Weigh In On Ardent Health Partners

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Ardent Health Partners in the third quarter valued at $13,119,000. Seven Grand Managers LLC purchased a new stake in shares of Ardent Health Partners in the 3rd quarter worth about $2,298,000. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Ardent Health Partners in the 3rd quarter worth about $50,000.

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.