Ardent Health Partners (NYSE:ARDT) Shares Gap Up Following Earnings Beat

Ardent Health Partners, LLC (NYSE:ARDT)’s stock price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $14.01, but opened at $15.59. Ardent Health Partners shares last traded at $15.15, with a volume of 151,385 shares.

The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.31. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.48 billion.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Truist Financial reduced their target price on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $23.00 price target on shares of Ardent Health Partners in a research note on Thursday, November 14th. Morgan Stanley dropped their price target on shares of Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Bank of America cut shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $19.00 in a research note on Wednesday, November 6th. Finally, Stephens reissued an “overweight” rating and issued a $22.00 price target on shares of Ardent Health Partners in a research note on Thursday. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $21.36.

Institutional Investors Weigh In On Ardent Health Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARDT. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ardent Health Partners during the 4th quarter worth $27,000. US Bancorp DE acquired a new position in shares of Ardent Health Partners during the 4th quarter valued at about $31,000. R Squared Ltd acquired a new position in shares of Ardent Health Partners during the 4th quarter valued at about $37,000. BNP Paribas Financial Markets purchased a new stake in Ardent Health Partners in the 3rd quarter valued at about $42,000. Finally, New York State Common Retirement Fund purchased a new stake in Ardent Health Partners during the fourth quarter worth about $48,000.

Ardent Health Partners Stock Performance

The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.78 and a current ratio of 1.91. The stock’s 50 day simple moving average is $15.29 and its 200-day simple moving average is $16.87.

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.