Ardent Health, Inc. (NYSE:ARDT) Receives $20.67 Average PT from Brokerages

Shares of Ardent Health, Inc. (NYSE:ARDT) have received an average recommendation of “Buy” from the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.67.

ARDT has been the topic of a number of recent research reports. Mizuho reduced their price objective on Ardent Health from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Royal Bank Of Canada restated an “outperform” rating and set a $21.00 price objective on shares of Ardent Health in a research note on Thursday, May 15th. Stephens restated an “overweight” rating and set a $21.00 price objective on shares of Ardent Health in a research note on Tuesday, May 20th. Finally, Guggenheim lifted their target price on Ardent Health from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, May 9th.

Institutional Trading of Ardent Health

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ventas Inc. acquired a new position in Ardent Health in the 4th quarter valued at approximately $159,570,000. Vanguard Group Inc. raised its holdings in Ardent Health by 368.9% in the 1st quarter. Vanguard Group Inc. now owns 1,330,635 shares of the company’s stock valued at $18,296,000 after acquiring an additional 1,046,845 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Ardent Health by 1,684.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 767,862 shares of the company’s stock valued at $10,558,000 after acquiring an additional 724,841 shares in the last quarter. Nuveen LLC acquired a new position in Ardent Health in the first quarter worth about $6,010,000. Finally, Segall Bryant & Hamill LLC acquired a new position in Ardent Health in the fourth quarter worth about $4,478,000.

Ardent Health Trading Down 0.4%

Shares of ARDT opened at $13.34 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.98 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $1.91 billion and a P/E ratio of 8.18. The stock’s fifty day simple moving average is $13.90 and its 200 day simple moving average is $14.12. Ardent Health has a twelve month low of $11.31 and a twelve month high of $20.72.

Ardent Health (NYSE:ARDT) last issued its earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.08. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Ardent Health had a return on equity of 16.07% and a net margin of 3.73%. On average, equities research analysts forecast that Ardent Health will post 1.23 earnings per share for the current year.

About Ardent Health

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.