Ardent Health (NYSE:ARDT) Cut to "Buy" at Wall Street Zen

Ardent Health (NYSE:ARDT - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a note issued to investors on Saturday.

ARDT has been the topic of several other reports. Royal Bank Of Canada restated an "outperform" rating and set a $21.00 price target on shares of Ardent Health in a research note on Thursday, May 15th. Stephens restated an "overweight" rating and set a $21.00 price objective on shares of Ardent Health in a research report on Tuesday, May 20th. Guggenheim raised 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. Finally, Mizuho decreased their price target on shares of Ardent Health from $19.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $20.67.

Ardent Health Stock Performance

Shares of ARDT traded down $0.08 during mid-day trading on Friday, hitting $14.19. The company's stock had a trading volume of 296,884 shares, compared to its average volume of 380,634. The stock's 50-day moving average is $14.00 and its two-hundred day moving average is $14.06. The firm has a market capitalization of $2.03 billion and a PE ratio of 8.71. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.98 and a current ratio of 2.12. Ardent Health has a one year low of $11.31 and a one year high of $20.72.

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

Hedge Funds Weigh In On Ardent Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARDT. Wedge Capital Management L L P NC bought a new position in shares of Ardent Health in the second quarter valued at approximately $1,383,000. Voya Investment Management LLC increased its holdings in Ardent Health by 77.9% during the 1st quarter. Voya Investment Management LLC now owns 26,468 shares of the company's stock valued at $364,000 after purchasing an additional 11,594 shares in the last quarter. Rhumbline Advisers raised its position in Ardent Health by 46.8% in the 1st quarter. Rhumbline Advisers now owns 24,827 shares of the company's stock valued at $341,000 after purchasing an additional 7,914 shares during the last quarter. Strs Ohio bought a new position in Ardent Health in the 1st quarter valued at $494,000. Finally, Acadian Asset Management LLC boosted its stake in Ardent Health by 574.9% in the first quarter. Acadian Asset Management LLC now owns 40,238 shares of the company's stock worth $550,000 after purchasing an additional 34,276 shares in the last quarter.

About Ardent Health

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.