Ardent Health (NYSE:ARDT) Downgraded by Bank of America to "Underperform"

Bank of America downgraded shares of Ardent Health (NYSE:ARDT - Free Report) from a neutral rating to an underperform rating in a report released on Wednesday, MarketBeat.com reports. They currently have $14.60 price objective on the stock, down from their previous price objective of $15.50.

ARDT has been the topic of a number of other research reports. Wall Street Zen downgraded shares of Ardent Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Stephens reiterated an "overweight" rating and set a $21.00 target price on shares of Ardent Health in a research report on Tuesday, May 20th. Guggenheim increased their price target 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. 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. Finally, Mizuho lowered their price objective on Ardent Health from $19.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Ardent Health presently has an average rating of "Moderate Buy" and an average price target of $20.30.

Ardent Health Stock Performance

Shares of ARDT traded down $0.44 during mid-day trading on Wednesday, hitting $11.58. The company's stock had a trading volume of 682,938 shares, compared to its average volume of 385,648. The stock's 50-day moving average is $14.00 and its two-hundred day moving average is $14.03. The firm has a market capitalization of $1.66 billion and a PE ratio of 7.11. 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

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ardent Health during the 4th quarter worth $27,000. US Bancorp DE bought a new stake in shares of Ardent Health during the fourth quarter worth $31,000. Morse Asset Management Inc acquired a new position in shares of Ardent Health during the first quarter valued at $36,000. Deutsche Bank AG boosted its holdings in Ardent Health by 1,251.9% in the fourth quarter. Deutsche Bank AG now owns 2,866 shares of the company's stock valued at $49,000 after acquiring an additional 2,654 shares during the last quarter. Finally, Quarry LP increased its position in Ardent Health by 1,519.4% in the first quarter. Quarry LP now owns 5,020 shares of the company's stock worth $69,000 after purchasing an additional 4,710 shares during the period.

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.