Royal Bank of Canada Has Lowered Expectations for Ardent Health Partners (NYSE:ARDT) Stock Price

Ardent Health Partners (NYSE:ARDT) had its target price cut by Royal Bank of Canada from $23.00 to $21.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other research firms also recently issued reports on ARDT. Truist Financial cut their price objective on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Stephens reaffirmed an “overweight” rating and issued a $22.00 price target on shares of Ardent Health Partners in a report on Thursday, February 27th. Bank of America downgraded shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $19.00 in a research note on Wednesday, November 6th. Morgan Stanley cut their target price on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Finally, Leerink Partners lifted their price target 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 equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Ardent Health Partners has a consensus rating of “Buy” and an average target price of $21.18.

Ardent Health Partners Price Performance

NYSE ARDT opened at $15.01 on Tuesday. The firm’s fifty day simple moving average is $15.18 and its two-hundred day simple moving average is $16.82. The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 0.78. Ardent Health Partners has a 12-month low of $13.55 and a 12-month high of $20.72.

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, topping the consensus estimate of $0.50 by $0.31. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.48 billion. On average, sell-side analysts expect that Ardent Health Partners will post 1.23 EPS for the current year.

Institutional Trading of Ardent Health Partners

Hedge funds have recently modified their holdings of the stock. Ventas Inc. acquired a new position in Ardent Health Partners in the fourth quarter valued at approximately $159,570,000. Point72 Asset Management L.P. increased its holdings in shares of Ardent Health Partners by 7.9% during the 4th quarter. Point72 Asset Management L.P. now owns 1,609,720 shares of the company’s stock valued at $27,494,000 after purchasing an additional 117,421 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Ardent Health Partners in the 3rd quarter valued at $28,724,000. Goldentree Asset Management LP purchased a new stake in Ardent Health Partners during the third quarter worth $22,897,000. Finally, Franklin Resources Inc. grew its position in Ardent Health Partners by 9.4% during the fourth quarter. Franklin Resources Inc. now owns 917,926 shares of the company’s stock valued at $15,678,000 after buying an additional 78,575 shares during the period.

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.