Ardent Health Partners (NYSE:ARDT) Releases FY 2024 Earnings Guidance

Ardent Health Partners (NYSE:ARDT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.230-1.370 for the period, compared to the consensus estimate of 1.260. The company issued revenue guidance of $5.8 billion-$5.9 billion, compared to the consensus revenue estimate of $5.8 billion.

Analyst Upgrades and Downgrades

ARDT has been the topic of several recent research reports. Morgan Stanley initiated coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They issued an “overweight” rating and a $27.00 price objective on the stock. Mizuho assumed coverage on Ardent Health Partners in a report on Monday, August 12th. They issued an “outperform” rating and a $20.00 price target for the company. Leerink Partners initiated coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued an “outperform” rating and a $23.00 price target on the stock. JPMorgan Chase & Co. began coverage on Ardent Health Partners in a research report on Monday, August 12th. They issued a “neutral” rating and a $18.00 price objective for the company. Finally, Truist Financial initiated coverage on shares of Ardent Health Partners in a research report on Monday, August 12th. They set a “buy” rating and a $21.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $21.64.

Ardent Health Partners Trading Down 6.7 %

Shares of NYSE ARDT traded down $1.17 on Friday, reaching $16.37. 383,726 shares of the company traded hands, compared to its average volume of 380,187. Ardent Health Partners has a fifty-two week low of $14.57 and a fifty-two week high of $20.72. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.65 and a quick ratio of 1.54. The firm’s 50 day moving average is $18.42.

Ardent Health Partners (NYSE:ARDT) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. As a group, equities analysts predict that Ardent Health Partners will post 1.26 earnings per share for the current year.

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.