Ardent Health Partners (NYSE:ARDT) Stock Price Up 4.8% – Here’s What Happened

Shares of Ardent Health Partners, LLC (NYSE:ARDT) traded up 4.8% on Tuesday . The company traded as high as $19.78 and last traded at $19.78. 51,383 shares were traded during trading, a decline of 87% from the average session volume of 407,168 shares. The stock had previously closed at $18.87.

Analysts Set New Price Targets

A number of research firms have commented on ARDT. Leerink Partners began coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued an “outperform” rating and a $23.00 price objective on the stock. Morgan Stanley started coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They set an “overweight” rating and a $27.00 price objective on the stock. Truist Financial assumed coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They issued a “buy” rating and a $21.00 target price for the company. Royal Bank of Canada initiated coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They set an “outperform” rating and a $23.00 price target on the stock. Finally, Bank of America initiated coverage on shares of Ardent Health Partners in a research report on Monday, August 12th. They issued a “buy” rating and a $22.00 price objective for the company. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Ardent Health Partners has an average rating of “Buy” and an average price target of $21.91.

Ardent Health Partners Stock Down 3.4 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 1.65 and a quick ratio of 1.54. The business’s 50 day moving average price is $18.15.

Ardent Health Partners (NYSE:ARDT) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Equities research analysts expect that Ardent Health Partners, LLC will post 1.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Ardent Health Partners stock. Seven Grand Managers LLC bought a new position in shares of Ardent Health Partners, LLC (NYSE:ARDT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 125,000 shares of the company’s stock, valued at approximately $2,298,000. Seven Grand Managers LLC owned approximately 0.09% of Ardent Health Partners as of its most recent filing with the Securities and Exchange Commission.

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.