Ardent Health Partners (NYSE:ARDT) Trading 5.2% Higher – Still a Buy?

Ardent Health Partners, LLC (NYSE:ARDT) shares shot up 5.2% during trading on Thursday . The stock traded as high as $17.90 and last traded at $17.89. 64,355 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 371,672 shares. The stock had previously closed at $17.00.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup began coverage on Ardent Health Partners in a report on Monday, August 12th. They set a “buy” rating and a $21.00 target price on the stock. Truist Financial started coverage on Ardent Health Partners in a report on Monday, August 12th. They issued a “buy” rating and a $21.00 price objective for the company. Leerink Partners boosted their target price on shares of Ardent Health Partners from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday. Mizuho assumed coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They issued an “outperform” rating and a $20.00 price target for the company. Finally, KeyCorp started coverage on shares of Ardent Health Partners in a research report on Friday, October 11th. They set an “overweight” rating and a $24.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $21.82.

Ardent Health Partners Price Performance

The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. The business has a fifty day moving average of $18.18.

Ardent Health Partners (NYSE:ARDT) last posted its earnings results on Wednesday, August 14th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. As a group, analysts anticipate that Ardent Health Partners, LLC will post 1.25 earnings per share for the current year.

Institutional Investors Weigh In On Ardent Health Partners

Large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new position in Ardent Health Partners during the 3rd quarter valued at about $42,000. Financial Management Professionals Inc. purchased a new position in shares of Ardent Health Partners during the third quarter valued at approximately $50,000. MetLife Investment Management LLC bought a new position in Ardent Health Partners during the third quarter valued at approximately $135,000. Quadrature Capital Ltd purchased a new stake in Ardent Health Partners in the third quarter worth approximately $229,000. Finally, Barclays PLC bought a new stake in Ardent Health Partners in the 3rd quarter worth approximately $385,000.

Ardent Health Partners Company Profile

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.