Los Angeles Capital Management LLC Increases Holdings in Ardent Health, Inc. $ARDT

Los Angeles Capital Management LLC lifted its holdings in Ardent Health, Inc. (NYSE:ARDT) by 59.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 162,784 shares of the company’s stock after acquiring an additional 60,384 shares during the quarter. Los Angeles Capital Management LLC owned 0.11% of Ardent Health worth $2,224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ARDT. Y Intercept Hong Kong Ltd boosted its holdings in Ardent Health by 558.3% in the second quarter. Y Intercept Hong Kong Ltd now owns 67,910 shares of the company’s stock valued at $928,000 after acquiring an additional 57,594 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Ardent Health by 1.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 828,611 shares of the company’s stock valued at $11,377,000 after buying an additional 11,429 shares in the last quarter. CWM LLC raised its position in shares of Ardent Health by 990.6% in the 2nd quarter. CWM LLC now owns 2,203 shares of the company’s stock worth $30,000 after purchasing an additional 2,001 shares during the last quarter. Oliver Luxxe Assets LLC grew its position in Ardent Health by 1.5% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 87,639 shares of the company’s stock valued at $1,197,000 after purchasing an additional 1,319 shares during the last quarter. Finally, Wedge Capital Management L L P NC purchased a new position in Ardent Health in the second quarter worth about $1,383,000.

Ardent Health Trading Up 3.2%

Ardent Health stock opened at $14.10 on Wednesday. The business has a 50-day simple moving average of $13.93 and a two-hundred day simple moving average of $13.39. Ardent Health, Inc. has a 52-week low of $10.10 and a 52-week high of $17.95. The company has a quick ratio of 2.00, a current ratio of 2.13 and a debt-to-equity ratio of 0.66. The company has a market cap of $2.02 billion, a P/E ratio of 7.79, a P/E/G ratio of 6.04 and a beta of 0.44.

Analysts Set New Price Targets

Several brokerages recently weighed in on ARDT. JPMorgan Chase & Co. reduced their price target on shares of Ardent Health from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. Bank of America lowered Ardent Health from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $15.50 to $14.60 in a report on Wednesday, July 16th. KeyCorp decreased their price target 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. The Goldman Sachs Group initiated coverage on Ardent Health in a research report on Tuesday, October 14th. They set a “neutral” rating and a $19.00 price objective on the stock. Finally, Weiss Ratings raised Ardent Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.78.

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.