Ardent Health (NYSE:ARDT) Announces Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Ardent Health (NYSE:ARDT) issued its quarterly earnings results on Wednesday. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10, Zacks reports. Ardent Health had a net margin of 4.11% and a return on equity of 16.66%.

Ardent Health Stock Up 0.3%

ARDT traded up $0.05 during trading on Wednesday, hitting $14.10. 569,917 shares of the company’s stock were exchanged, compared to its average volume of 391,890. Ardent Health has a fifty-two week low of $10.10 and a fifty-two week high of $17.95. The stock has a market cap of $2.02 billion, a P/E ratio of 7.79, a PEG ratio of 6.04 and a beta of 0.44. The business’s 50 day moving average is $13.93 and its two-hundred day moving average is $13.39. The company has a quick ratio of 2.00, a current ratio of 2.13 and a debt-to-equity ratio of 0.66.

Wall Street Analyst Weigh In

Several brokerages recently commented on ARDT. Bank of America lowered Ardent Health from a “neutral” rating to an “underperform” rating and cut their target price for the company from $15.50 to $14.60 in a research report on Wednesday, July 16th. JPMorgan Chase & Co. reduced their price objective on shares of Ardent Health from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. KeyCorp lowered their price objective on shares of Ardent Health from $24.00 to $20.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. Weiss Ratings upgraded shares of Ardent Health from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. Finally, Wall Street Zen raised shares of Ardent Health from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.78.

Hedge Funds Weigh In On Ardent Health

A number of hedge funds have recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd grew its holdings in Ardent Health by 504.7% during the second quarter. Qube Research & Technologies Ltd now owns 104,251 shares of the company’s stock worth $1,424,000 after buying an additional 87,012 shares in the last quarter. BNP Paribas Financial Markets raised its position in Ardent Health by 132.3% in the second quarter. BNP Paribas Financial Markets now owns 106,551 shares of the company’s stock worth $1,455,000 after acquiring an additional 60,685 shares during the period. Geode Capital Management LLC grew its holdings in Ardent Health by 0.6% during the second quarter. Geode Capital Management LLC now owns 286,848 shares of the company’s stock valued at $3,918,000 after purchasing an additional 1,769 shares during the period. Ameriprise Financial Inc. increased its holdings in Ardent Health by 75.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,634,822 shares of the company’s stock worth $22,332,000 after acquiring an additional 703,739 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Ardent Health by 44.5% during the third quarter. Vanguard Group Inc. now owns 1,352,676 shares of the company’s stock worth $17,923,000 after purchasing an additional 416,348 shares during the period.

Ardent Health 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.