Ardent Health Partners (NYSE:ARDT) Shares Gap Up After Better-Than-Expected Earnings

Ardent Health Partners, LLC (NYSE:ARDT) shares gapped up before the market opened 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 changing hands.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ARDT. JPMorgan Chase & Co. reissued a “neutral” rating and set a $20.00 price objective on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Morgan Stanley lowered their price objective on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Truist Financial lowered their price objective on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Bank of America downgraded Ardent Health Partners from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $19.00 in a research report on Wednesday, November 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $22.00 price target on shares of Ardent Health Partners in a report on Thursday. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Ardent Health Partners has an average rating of “Buy” and an average target price of $21.36.

Institutional Investors Weigh In On Ardent Health Partners

Large investors have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ardent Health Partners in the fourth quarter valued at approximately $27,000. US Bancorp DE acquired a new stake in shares of Ardent Health Partners in the fourth quarter valued at approximately $31,000. R Squared Ltd acquired a new stake in shares of Ardent Health Partners in the fourth quarter valued at approximately $37,000. BNP Paribas Financial Markets acquired a new stake in shares of Ardent Health Partners in the third quarter valued at approximately $42,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Ardent Health Partners in the fourth quarter valued at approximately $48,000.

Ardent Health Partners Price Performance

The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. The company has a 50 day moving average price of $15.29 and a 200 day moving average price of $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.