Ardent Health (NYSE:ARDT) Shares Up 3.9% – Here’s What Happened

Ardent Health, Inc. (NYSE:ARDT) rose 3.9% during mid-day trading on Tuesday . The stock traded as high as $11.14 and last traded at $11.2450. 29,026 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 448,545 shares. The stock had previously closed at $10.82.

Analyst Upgrades and Downgrades

ARDT has been the topic of a number of research analyst reports. Weiss Ratings lowered Ardent Health from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, August 11th. Wall Street Zen cut Ardent Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. The Goldman Sachs Group reiterated a “neutral” rating and set a $13.00 price target on shares of Ardent Health in a report on Thursday, August 6th. Truist Financial upped their price target on Ardent Health from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Guggenheim lifted their price objective on shares of Ardent Health from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $13.05.

Ardent Health Stock Up 2.5%

The business’s fifty day moving average price is $10.59 and its 200 day moving average price is $9.78. The company has a market capitalization of $1.56 billion, a P/E ratio of 20.13, a P/E/G ratio of 3.07 and a beta of 0.70. The company has a current ratio of 2.10, a quick ratio of 1.99 and a debt-to-equity ratio of 0.61.

Ardent Health (NYSE:ARDT) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). Ardent Health had a return on equity of 10.35% and a net margin of 1.22%.The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.59 billion. Ardent Health has set its FY 2026 guidance at 0.780-1.150 EPS. As a group, equities research analysts predict that Ardent Health, Inc. will post 0.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Ardent Health

In related news, CFO Alfred Lumsdaine acquired 10,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were purchased at an average cost of $8.81 per share, for a total transaction of $88,100.00. Following the acquisition, the chief financial officer owned 329,183 shares in the company, valued at $2,900,102.23. The trade was a 3.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ardent Health

Several hedge funds have recently made changes to their positions in ARDT. Wedge Capital Management L L P NC lifted its position in shares of Ardent Health by 212.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 327,242 shares of the company’s stock valued at $3,220,000 after acquiring an additional 222,447 shares during the period. LSV Asset Management purchased a new stake in shares of Ardent Health during the fourth quarter valued at $963,000. Prescott Group Capital Management L.L.C. acquired a new position in shares of Ardent Health in the 4th quarter valued at $1,077,000. Algert Global LLC increased its holdings in Ardent Health by 1,277.3% in the second quarter. Algert Global LLC now owns 597,745 shares of the company’s stock valued at $5,882,000 after buying an additional 554,345 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Ardent Health by 70.9% during the first quarter. First Trust Advisors LP now owns 478,795 shares of the company’s stock worth $4,098,000 after buying an additional 198,595 shares in the last quarter.

Ardent Health Company Profile

Ardent Health, listed on the New York Stock Exchange under the ticker ARDT, is a healthcare delivery company focused on acquiring, developing and managing acute care hospitals and complementary outpatient facilities across the United States. The company’s integrated platform encompasses both inpatient and outpatient services, designed to provide end-to-end care solutions and address the full continuum of patient needs.

Through its network, Ardent Health operates general hospitals, emergency departments, ambulatory surgery centers, urgent care clinics, rehabilitation and post-acute care facilities.