Ardent Health, Inc. (NYSE:ARDT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Ardent Health, Inc. (NYSE:ARDT) have been given a consensus recommendation of “Moderate Buy” by the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.7818.

Several equities analysts have recently commented on the company. KeyCorp reduced their target price on Ardent Health from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of Ardent Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Bank of America cut Ardent Health from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $15.50 to $14.60 in a research note on Wednesday, July 16th. UBS Group initiated coverage on Ardent Health in a research report on Wednesday, September 10th. They issued a “buy” rating and a $17.00 target price for the company. Finally, The Goldman Sachs Group started coverage on Ardent Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $19.00 price target on the stock.

Ardent Health Trading Up 3.2%

NYSE:ARDT opened at $14.10 on Wednesday. Ardent Health has a one year low of $10.10 and a one year high of $17.95. The business’s 50-day simple moving average is $13.93 and its 200 day simple moving average is $13.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.00 and a current ratio of 2.13. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 7.79, a price-to-earnings-growth ratio of 6.04 and a beta of 0.44.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ARDT. Bank of New York Mellon Corp raised its stake in Ardent Health by 91.2% during the first quarter. Bank of New York Mellon Corp now owns 48,988 shares of the company’s stock worth $674,000 after acquiring an additional 23,373 shares during the period. Morse Asset Management Inc acquired a new stake in Ardent Health in the first quarter worth $36,000. Y Intercept Hong Kong Ltd bought a new stake in Ardent Health in the first quarter valued at $142,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Ardent Health during the first quarter valued at $422,000. Finally, Vanguard Group Inc. increased its holdings in shares of Ardent Health by 368.9% in the 1st quarter. Vanguard Group Inc. now owns 1,330,635 shares of the company’s stock worth $18,296,000 after acquiring an additional 1,046,845 shares during the period.

Ardent Health 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.