Ardent Health Partners (NYSE:ARDT) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Ardent Health Partners (NYSE:ARDT) in a research report released on Thursday,Benzinga reports. The brokerage currently has a $23.00 price objective on the stock.

A number of other equities research analysts also recently commented on the company. Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of Ardent Health Partners in a report on Thursday, September 19th. KeyCorp began coverage on Ardent Health Partners in a research report on Friday, October 11th. They set an “overweight” rating and a $24.00 price objective for the company. Leerink Partnrs raised Ardent Health Partners to a “strong-buy” rating in a research report on Monday, August 12th. Mizuho started coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Citigroup initiated coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued a “buy” rating and a $21.00 price objective on the stock. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $21.82.

Ardent Health Partners Price Performance

ARDT stock traded down $1.14 during trading on Thursday, hitting $16.67. The company had a trading volume of 100,643 shares, compared to its average volume of 370,529. The firm’s fifty day moving average is $18.27. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.91 and a quick ratio of 1.78. Ardent Health Partners has a fifty-two week low of $14.57 and a fifty-two week high of $20.72.

Ardent Health Partners (NYSE:ARDT) last released its earnings results on Wednesday, August 14th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. On average, analysts expect that Ardent Health Partners will post 1.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ardent Health Partners

Several institutional investors have recently bought and sold shares of ARDT. Seven Grand Managers LLC purchased a new position in Ardent Health Partners in the third quarter worth $2,298,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Ardent Health Partners during the third quarter valued at approximately $13,119,000. Financial Management Professionals Inc. purchased a new stake in Ardent Health Partners in the third quarter worth approximately $50,000. Charles Schwab Investment Management Inc. purchased a new stake in Ardent Health Partners in the third quarter worth approximately $526,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Ardent Health Partners during the 3rd quarter worth $42,000.

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.