KeyCorp Lowers Ardent Health (NYSE:ARDT) Price Target to $20.00

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 lowered by equities researchers at KeyCorp from $24.00 to $20.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. KeyCorp's target price indicates a potential upside of 68.49% from the company's previous close.

Other analysts also recently issued research reports about the company. Mizuho lowered their price objective 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. Royal Bank Of Canada reiterated an "outperform" rating and issued a $21.00 price objective on shares of Ardent Health in a report on Thursday, May 15th. Guggenheim increased their target price on Ardent Health from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Stephens reissued an "overweight" rating and issued a $21.00 target price on shares of Ardent Health in a research note on Tuesday, May 20th. Finally, Bank of America cut Ardent Health from a "neutral" rating to an "underperform" rating and dropped their price objective for the company from $15.50 to $14.60 in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Ardent Health has an average rating of "Moderate Buy" and an average price target of $19.97.

Ardent Health Stock Performance

Shares of ARDT stock traded up $0.40 during trading on Thursday, hitting $11.87. The company's stock had a trading volume of 497,421 shares, compared to its average volume of 540,261. The company has a market cap of $1.70 billion and a PE ratio of 6.56. The company has a current ratio of 2.13, a quick ratio of 1.98 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average of $12.68 and a 200-day moving average of $13.48. Ardent Health has a 52 week low of $10.10 and a 52 week high of $20.72.

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

Hedge Funds Weigh In On Ardent Health

A number of hedge funds have recently bought and sold shares of the company. Prudential Financial Inc. bought a new stake in Ardent Health during the fourth quarter worth approximately $481,000. JPMorgan Chase & Co. raised its stake in Ardent Health by 66.8% during the 4th quarter. JPMorgan Chase & Co. now owns 13,992 shares of the company's stock valued at $239,000 after purchasing an additional 5,602 shares during the period. Norges Bank acquired a new position in shares of Ardent Health in the fourth quarter worth $1,548,000. Geode Capital Management LLC increased its stake in shares of Ardent Health by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 142,563 shares of the company's stock worth $2,435,000 after acquiring an additional 2,127 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Ardent Health by 52.6% in the fourth quarter. Wells Fargo & Company MN now owns 8,704 shares of the company's stock worth $149,000 after acquiring an additional 3,002 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.