Ardent Health Partners (NYSE:ARDT) Trading Up 6.7% – Should You Buy?

Ardent Health Partners, LLC (NYSE:ARDT) was up 6.7% during mid-day trading on Monday . The stock traded as high as $14.97 and last traded at $15.20. Approximately 53,937 shares traded hands during trading, a decline of 86% from the average daily volume of 379,756 shares. The stock had previously closed at $14.25.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ARDT shares. Truist Financial reduced their price objective on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Bank of America cut Ardent Health Partners from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $19.00 in a research note on Wednesday, November 6th. KeyCorp began coverage on Ardent Health Partners in a research note on Friday, October 11th. They set an “overweight” rating and a $24.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Ardent Health Partners in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $20.00 price target on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Two research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $21.55.

Ardent Health Partners Stock Performance

The firm’s 50 day moving average price is $15.93. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.78 and a current ratio of 1.91.

Ardent Health Partners (NYSE:ARDT) last posted its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.46 billion. On average, sell-side analysts forecast that Ardent Health Partners, LLC will post 1.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in Ardent Health Partners in the fourth quarter worth $37,000. Oliver Luxxe Assets LLC bought a new position in Ardent Health Partners in the 4th quarter worth about $1,465,000. JPMorgan Chase & Co. purchased a new stake in Ardent Health Partners during the 3rd quarter valued at about $154,000. Franklin Resources Inc. bought a new stake in Ardent Health Partners during the 3rd quarter valued at about $15,839,000. Finally, Barclays PLC purchased a new position in Ardent Health Partners in the third quarter worth about $385,000.

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.