Ardent Health Partners (NYSE:ARDT) Price Target Cut to $21.00 by Analysts at Royal Bank of Canada

Ardent Health Partners (NYSE:ARDT) had its target price decreased by equities researchers at Royal Bank of Canada from $23.00 to $21.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 40.24% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Leerink Partners upped their target price on Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Morgan Stanley cut their price objective on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $20.00 target price on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Bank of America cut shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, November 6th. Finally, Stephens restated an “overweight” rating and set a $22.00 price objective on shares of Ardent Health Partners in a research report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ardent Health Partners has an average rating of “Buy” and an average price target of $21.18.

Ardent Health Partners Stock Down 0.6 %

Shares of NYSE ARDT opened at $14.97 on Tuesday. The firm’s 50-day simple moving average is $15.18 and its 200 day simple moving average is $16.82. 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 has a fifty-two week low of $13.55 and a fifty-two week high of $20.72.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Ardent Health Partners during the fourth quarter valued at approximately $27,000. US Bancorp DE purchased a new position in Ardent Health Partners during the 4th quarter worth approximately $31,000. R Squared Ltd acquired a new stake in Ardent Health Partners during the 4th quarter valued at $37,000. BNP Paribas Financial Markets purchased a new stake in shares of Ardent Health Partners in the third quarter valued at $42,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Ardent Health Partners in the fourth quarter valued at $48,000.

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.