Ardent Health (NYSE:ARDT) Stock Rating Lowered by Wall Street Zen

Ardent Health (NYSE:ARDT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a report released on Saturday.

Several other research analysts have also commented on ARDT. Stephens reaffirmed an "overweight" rating and set a $21.00 price objective on shares of Ardent Health in a research note on Tuesday, May 20th. Guggenheim lifted their target price on Ardent Health from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Royal Bank Of Canada reiterated an "outperform" rating and set a $21.00 target price on shares of Ardent Health in a research report on Thursday, May 15th. Finally, Mizuho decreased their target price on Ardent Health from $19.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Two investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Ardent Health currently has a consensus rating of "Buy" and a consensus target price of $20.67.

Ardent Health Stock Performance

NYSE ARDT traded down $0.56 during trading hours on Friday, reaching $13.93. 240,340 shares of the company were exchanged, compared to its average volume of 380,443. The stock has a market capitalization of $1.99 billion and a P/E ratio of 8.47. The company has a quick ratio of 1.98, a current ratio of 2.12 and a debt-to-equity ratio of 0.70. The business's 50 day simple moving average is $14.00 and its 200-day simple moving average is $14.06. Ardent Health has a 1 year low of $11.31 and a 1 year high of $20.72.

Ardent Health (NYSE:ARDT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. Ardent Health had a net margin of 3.73% and a return on equity of 16.07%. On average, equities research analysts expect that Ardent Health will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ARDT. Oliver Luxxe Assets LLC boosted its holdings in Ardent Health by 1.5% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 87,639 shares of the company's stock valued at $1,197,000 after acquiring an additional 1,319 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Ardent Health during the 4th quarter valued at approximately $27,000. Squarepoint Ops LLC increased its position in Ardent Health by 1.8% during the 4th quarter. Squarepoint Ops LLC now owns 101,798 shares of the company's stock valued at $1,739,000 after buying an additional 1,798 shares in the last quarter. US Bancorp DE purchased a new stake in Ardent Health during the 4th quarter valued at $31,000. Finally, Bank of New York Mellon Corp boosted its stake in Ardent Health by 8.2% during the 4th quarter. Bank of New York Mellon Corp now owns 25,615 shares of the company's stock valued at $438,000 after purchasing an additional 1,941 shares during the last quarter.

Ardent Health 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.