Royal Bank of Canada Reiterates Outperform Rating for Ardent Health Partners (NYSE:ARDT)

Ardent Health Partners (NYSE:ARDT)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued on Thursday,Benzinga reports. They presently have a $23.00 price objective on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 28.56% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Bank of America downgraded shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, November 6th. Truist Financial started coverage on 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. Citigroup began coverage on Ardent Health Partners in a report on Monday, August 12th. They issued a “buy” rating and a $21.00 target price for the company. Morgan Stanley assumed coverage on shares of Ardent Health Partners in a research report on Monday, August 12th. They set an “overweight” rating and a $27.00 price objective for the company. Finally, Stephens reissued an “overweight” rating and set a $24.00 price objective on shares of Ardent Health Partners in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $21.82.

Ardent Health Partners Price Performance

Shares of NYSE:ARDT traded up $0.89 during mid-day trading on Thursday, reaching $17.89. 64,355 shares of the company’s stock were exchanged, compared to its average volume of 371,672. Ardent Health Partners has a twelve month low of $14.57 and a twelve month high of $20.72. The firm’s fifty day simple moving average is $18.27. 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 issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The company had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Sell-side analysts predict that Ardent Health Partners will post 1.25 earnings per share for the current year.

Institutional Investors Weigh In On Ardent Health Partners

Institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets bought a new stake in shares of Ardent Health Partners in the 3rd quarter worth $42,000. Financial Management Professionals Inc. bought a new stake in Ardent Health Partners in the 3rd quarter worth about $50,000. MetLife Investment Management LLC purchased a new stake in Ardent Health Partners in the 3rd quarter valued at about $135,000. Charles Schwab Investment Management Inc. bought a new position in shares of Ardent Health Partners during the 3rd quarter worth approximately $526,000. Finally, Seven Grand Managers LLC bought a new position in shares of Ardent Health Partners in the third quarter valued at approximately $2,298,000.

Ardent Health Partners 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.