Guggenheim Initiates Coverage on Ardent Health Partners (NYSE:ARDT)

Guggenheim began coverage on shares of Ardent Health Partners (NYSE:ARDT) in a research note issued to investors on Wednesday, MarketBeat reports. The brokerage issued a buy rating and a $16.00 price target on the stock.

Several other brokerages also recently weighed in on ARDT. Morgan Stanley cut their target price 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. Truist Financial cut their price objective on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Mizuho decreased their target price on Ardent Health Partners from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday. JPMorgan Chase & Co. reissued a “neutral” rating and set a $20.00 target price on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Finally, Stephens reaffirmed an “overweight” rating and issued a $22.00 price target on shares of Ardent Health Partners in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Ardent Health Partners has a consensus rating of “Buy” and an average price target of $20.58.

Ardent Health Partners Stock Down 2.9 %

ARDT opened at $11.76 on Wednesday. Ardent Health Partners has a 52 week low of $11.60 and a 52 week high of $20.72. 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 business has a fifty day simple moving average of $13.86 and a 200-day simple moving average of $15.77.

Ardent Health Partners (NYSE:ARDT) last announced its earnings results on Wednesday, February 26th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.31. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.48 billion. On average, equities analysts predict that Ardent Health Partners will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. State Street Corp acquired a new position in Ardent Health Partners in the third quarter valued at $1,977,000. Jane Street Group LLC purchased a new position in Ardent Health Partners during the 3rd quarter worth approximately $567,000. Barclays PLC acquired a new position in Ardent Health Partners during the third quarter worth approximately $385,000. Geode Capital Management LLC acquired a new stake in shares of Ardent Health Partners in the third quarter valued at approximately $2,581,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of Ardent Health Partners during the third quarter worth approximately $154,000.

About Ardent Health Partners

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.