Ardent Health (NYSE:ARDT) Rating Lowered to "Underperform" at Bank of America

Bank of America lowered shares of Ardent Health (NYSE:ARDT - Free Report) from a neutral rating to an underperform rating in a report issued on Wednesday morning, MarketBeat Ratings reports. Bank of America currently has $14.60 target price on the stock, down from their previous target price of $15.50.

A number of other research firms also recently weighed in on ARDT. Royal Bank Of Canada reiterated an "outperform" rating and issued a $21.00 price target on shares of Ardent Health in a research report on Thursday, May 15th. Wall Street Zen downgraded shares of Ardent Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. 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. Mizuho lowered their price objective on shares of Ardent Health from $19.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Guggenheim boosted their price objective on shares of Ardent Health from $16.00 to $18.00 and gave the company 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 assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.30.

Ardent Health Stock Down 3.7%

Shares of NYSE:ARDT traded down $0.43 during midday trading on Wednesday, reaching $11.15. The company had a trading volume of 527,690 shares, compared to its average volume of 370,081. 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 moving average price is $13.88 and its 200 day moving average price is $13.93. The stock has a market cap of $1.59 billion and a PE ratio of 6.84. Ardent Health has a 1-year low of $11.11 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, topping analysts' consensus estimates of $0.21 by $0.08. Ardent Health had a return on equity of 16.07% and a net margin of 3.73%. The business had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.50 billion. Research analysts forecast that Ardent Health will post 1.23 EPS for the current fiscal year.

Institutional Trading of Ardent Health

A number of institutional investors have recently bought and sold shares of ARDT. Oliver Luxxe Assets LLC boosted its position in shares of Ardent Health by 1.5% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 87,639 shares of the company's stock worth $1,197,000 after purchasing an additional 1,319 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ardent Health during the 4th quarter worth about $27,000. Squarepoint Ops LLC boosted its position in shares of Ardent Health by 1.8% during the 4th quarter. Squarepoint Ops LLC now owns 101,798 shares of the company's stock worth $1,739,000 after purchasing an additional 1,798 shares in the last quarter. US Bancorp DE bought a new position in shares of Ardent Health during the 4th quarter worth about $31,000. Finally, Bank of New York Mellon Corp boosted its position in shares of 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 worth $438,000 after purchasing an additional 1,941 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.