Ardent Health (NYSE:ARDT) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised its price target on Ardent Health from $12 to $14, but maintained an “underperform” rating; the new target implies about 21% downside from the share price cited in the report.
• Analyst sentiment is mixed: the consensus rating is “Hold” with a $14.62 price target, while seven analysts rate the stock Buy, seven Hold, and one Sell.
• Ardent Health reported quarterly EPS of $0.31, beating the $0.23 consensus estimate, and revenue of $1.62 billion, ahead of forecasts of $1.60 billion.

Ardent Health (NYSE:ARDT - Get Free Report) had its price target lifted by equities research analysts at Bank of America from $12.00 to $14.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an "underperform" rating on the stock. Bank of America's price objective points to a potential downside of 21.06% from the company's current price.

Other equities analysts have also recently issued reports about the stock. BMO Capital Markets started coverage on shares of Ardent Health in a research note on Tuesday, September 22nd. They set a "market perform" rating and a $11.00 price target for the company. The Goldman Sachs Group reissued a "neutral" rating and issued a $13.00 price objective on shares of Ardent Health in a research report on Thursday, August 6th. Zacks Research upgraded shares of Ardent Health from a "strong sell" rating to a "hold" rating in a report on Monday, September 7th. Wall Street Zen raised shares of Ardent Health from a "hold" rating to a "buy" rating in a research report on Saturday, November 7th. Finally, Stephens lifted their price target on shares of Ardent Health from $13.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, November 6th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.62.

Ardent Health Stock Down 2.5%

NYSE:ARDT opened at $17.73 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.03 and a current ratio of 2.13. The company has a market cap of $2.50 billion, a PE ratio of 17.66, a PEG ratio of 3.29 and a beta of 0.58. Ardent Health has a 52-week low of $7.71 and a 52-week high of $18.57. The stock has a 50-day simple moving average of $12.00 and a 200 day simple moving average of $10.29.

Ardent Health (NYSE:ARDT - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.08. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.60 billion. Ardent Health had a return on equity of 8.41% and a net margin of 2.27%. On average, sell-side analysts expect that Ardent Health will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ARDT. First Trust Advisors LP raised its position in Ardent Health by 5.9% during the third quarter. First Trust Advisors LP now owns 595,710 shares of the company's stock worth $6,160,000 after acquiring an additional 33,432 shares in the last quarter. Ieq Capital LLC lifted its stake in Ardent Health by 27.7% in the third quarter. Ieq Capital LLC now owns 117,691 shares of the company's stock valued at $1,217,000 after acquiring an additional 25,500 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Ardent Health by 3.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 69,827 shares of the company's stock valued at $724,000 after acquiring an additional 2,145 shares during the period. R Squared Ltd grew its position in shares of Ardent Health by 35.1% in the 3rd quarter. R Squared Ltd now owns 16,468 shares of the company's stock valued at $170,000 after acquiring an additional 4,275 shares during the period. Finally, Fifth Third Bancorp grew its position in shares of Ardent Health by 5.5% in the 3rd quarter. Fifth Third Bancorp now owns 92,186 shares of the company's stock valued at $953,000 after acquiring an additional 4,773 shares during the period.

Ardent Health Company Profile

Ardent Health is a U.S. healthcare provider that operates hospitals and other care facilities. Its services include inpatient and outpatient care, emergency services, surgery, and specialty and primary care through affiliated clinics and medical groups. The company serves communities in several states, including New Mexico, Oklahoma, and Texas. Its regional health systems include Lovelace Health System, Hillcrest HealthCare System, and UT Health East Texas. Ardent Health was formerly known as Ardent Health Services and became a publicly traded company in 2023.

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