Ardent Health Partners’ (ARDT) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Ardent Health Partners (NYSE:ARDT) in a report published on Thursday morning,Benzinga reports. The brokerage currently has a $23.00 target price on the stock.

Other analysts have also issued reports about the stock. Citigroup initiated coverage on shares of Ardent Health Partners in a research report on Monday, August 12th. They set a “buy” rating and a $21.00 target price on the stock. Truist Financial assumed coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued a “buy” rating and a $21.00 price objective on the stock. Morgan Stanley assumed coverage on Ardent Health Partners in a research report on Monday, August 12th. They set an “overweight” rating and a $27.00 target price for the company. JPMorgan Chase & Co. started coverage on Ardent Health Partners in a research report on Monday, August 12th. They issued a “neutral” rating and a $18.00 price target on the stock. Finally, KeyCorp began coverage on Ardent Health Partners in a report on Friday, October 11th. They set an “overweight” rating and a $24.00 price objective for the company. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $21.82.

Ardent Health Partners Price Performance

Shares of NYSE:ARDT opened at $16.61 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. Ardent Health Partners has a 1-year low of $14.57 and a 1-year high of $20.72. The stock’s 50 day moving average price is $18.18.

Ardent Health Partners (NYSE:ARDT) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. As a group, analysts anticipate that Ardent Health Partners will post 1.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardent Health Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Ardent Health Partners during the third quarter valued at approximately $13,119,000. Seven Grand Managers LLC acquired a new position in Ardent Health Partners during the 3rd quarter worth $2,298,000. Financial Management Professionals Inc. bought a new position in Ardent Health Partners in the 3rd quarter valued at $50,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of Ardent Health Partners in the 3rd quarter valued at $526,000. Finally, Wellington Management Group LLP bought a new stake in shares of Ardent Health Partners during the third quarter worth $28,724,000.

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.