Ardent Health (NYSE:ARDT) Given New $14.00 Price Target at Bank of America

Ardent Health (NYSE:ARDT) had its price target hoisted by investment analysts at Bank of America from $12.00 to $14.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price target indicates a potential downside of 21.06% from the company’s current price.

A number of other research firms have also weighed in on ARDT. Leerink Partners reissued an “outperform” rating and set a $14.00 target price on shares of Ardent Health in a report on Friday, September 18th. BMO Capital Markets initiated coverage on Ardent Health in a report on Tuesday, September 22nd. They set a “market perform” rating and a $11.00 price target for the company. Truist Financial raised their price target on Ardent Health from $12.00 to $13.00 and gave the company a “buy” rating in a report on Thursday, August 6th. 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 report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Ardent Health from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.62.

Ardent Health Price Performance

NYSE:ARDT opened at $17.73 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.13 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $12.00 and its two-hundred day moving average price is $10.29. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 3.29 and a beta of 0.58. Ardent Health has a 12-month low of $7.71 and a 12-month high of $18.57.

Ardent Health (NYSE:ARDT) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.08. Ardent Health had a return on equity of 8.41% and a net margin of 2.27%. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.60 billion. On average, analysts anticipate that Ardent Health will post 1.05 earnings per share for the current year.

Institutional Investors Weigh In On Ardent Health

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in shares of Ardent Health during the second quarter worth approximately $21,415,000. First Trust Advisors LP grew its position in shares of Ardent Health by 5.9% in the third quarter. First Trust Advisors LP now owns 595,710 shares of the company’s stock valued at $6,160,000 after purchasing an additional 33,432 shares during the last quarter. Algert Global LLC grew its position in shares of 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 purchasing an additional 554,345 shares during the last quarter. Empowered Funds LLC bought a new position in shares of Ardent Health during the second quarter worth approximately $5,425,000. Finally, Bank of America Corp DE bought a new position in shares of Ardent Health during the second quarter worth approximately $3,840,000.

Ardent Health Company Profile

Ardent Health is a U.S. healthcare provider that operates hospitals and other care facilities. Its services include inpatient and outpatient care, emergency services, surgery, and specialty and primary care through affiliated clinics and medical groups. The company serves communities in several states, including New Mexico, Oklahoma, and Texas. Its regional health systems include Lovelace Health System, Hillcrest HealthCare System, and UT Health East Texas. Ardent Health was formerly known as Ardent Health Services and became a publicly traded company in 2023.