Royal Bank of Canada Cuts Ardent Health Partners (NYSE:ARDT) Price Target to $21.00

Ardent Health Partners (NYSE:ARDT) had its target price cut by Royal Bank of Canada from $23.00 to $21.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other brokerages have also issued reports on ARDT. Leerink Partners upped their target price on shares of Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 target price on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Stephens restated an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research report on Thursday, February 27th. Morgan Stanley cut their price target on shares of 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. Finally, Bank of America lowered shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and cut their price target for the company from $22.00 to $19.00 in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Ardent Health Partners has an average rating of “Buy” and an average target price of $21.18.

Ardent Health Partners Price Performance

ARDT opened at $14.98 on Tuesday. Ardent Health Partners has a one year low of $13.55 and a one year high of $20.72. The company has a fifty day moving average price of $15.15 and a 200-day moving average price of $16.80. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.78 and a current ratio of 1.91.

Ardent Health Partners (NYSE:ARDT) last announced its earnings results on Wednesday, February 26th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.31. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Sell-side analysts anticipate that Ardent Health Partners will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Ardent Health Partners

Several hedge funds and other institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC raised its stake in shares of Ardent Health Partners by 1.8% during the fourth quarter. Squarepoint Ops LLC now owns 101,798 shares of the company’s stock valued at $1,739,000 after acquiring an additional 1,798 shares during the last quarter. State of Wyoming raised its stake in Ardent Health Partners by 123.3% in the fourth quarter. State of Wyoming now owns 31,693 shares of the company’s stock worth $541,000 after buying an additional 17,499 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in Ardent Health Partners in the fourth quarter worth about $27,000. Point72 Asset Management L.P. raised its stake in Ardent Health Partners by 7.9% in the fourth quarter. Point72 Asset Management L.P. now owns 1,609,720 shares of the company’s stock worth $27,494,000 after buying an additional 117,421 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in Ardent Health Partners by 220.6% in the fourth quarter. Nuveen Asset Management LLC now owns 169,475 shares of the company’s stock worth $2,895,000 after buying an additional 116,610 shares in the last quarter.

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.