KeyCorp Issues Pessimistic Forecast for Ardent Health (NYSE:ARDT) Stock Price

Key Points

• KeyCorp has lowered Ardent Health’s price target from $24.00 to $20.00, indicating a potential upside of 83.10% from the current price, while maintaining an "overweight" rating on the stock.
• After recent earnings, Ardent Health reported an EPS of $0.52, surpassing analysts’ expectations, with revenue for the quarter at $1.65 billion.
• Current analyst ratings for Ardent Health include a mix of one sell, one hold, eleven buy, and one strong buy, with an overall consensus rating of "Moderate Buy."

Ardent Health (NYSE:ARDT - Get Free Report) had its price target reduced by KeyCorp from $24.00 to $20.00 in a report issued on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price objective would indicate a potential upside of 67.36% from the stock's current price.

A number of other analysts have also recently commented on ARDT. Wall Street Zen cut Ardent Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price target on shares of Ardent Health in a research report on Thursday, May 15th. Mizuho dropped their target price on shares of Ardent Health from $19.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Bank of America downgraded Ardent Health from a "neutral" rating to an "underperform" rating and dropped their target price for the stock from $15.50 to $14.60 in a report on Wednesday, July 16th. Finally, Guggenheim increased their target price on shares of Ardent Health from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.55.

Ardent Health Stock Up 0.5%

NYSE ARDT traded up $0.06 during trading on Thursday, reaching $11.95. The company's stock had a trading volume of 169,373 shares, compared to its average volume of 405,338. Ardent Health has a 1-year low of $10.10 and a 1-year high of $20.72. The business has a 50-day moving average price of $12.68 and a 200-day moving average price of $13.46. The company has a current ratio of 2.13, a quick ratio of 2.00 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.71 billion and a PE ratio of 6.59.

Ardent Health (NYSE:ARDT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.30 by $0.22. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.54 billion. Ardent Health had a return on equity of 16.66% and a net margin of 4.11%. On average, research analysts forecast that Ardent Health will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of Ardent Health

Hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC acquired a new stake in shares of Ardent Health in the 2nd quarter worth $160,000. Creative Planning acquired a new stake in shares of Ardent Health during the 2nd quarter worth about $216,000. Geode Capital Management LLC raised its position in shares of Ardent Health by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 286,848 shares of the company's stock worth $3,918,000 after acquiring an additional 1,769 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Ardent Health by 59.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 162,784 shares of the company's stock valued at $2,224,000 after buying an additional 60,384 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd grew its position in shares of Ardent Health by 558.3% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 67,910 shares of the company's stock valued at $928,000 after buying an additional 57,594 shares during 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.