Seven Grand Managers LLC Sells 25,000 Shares of Ardent Health, Inc. $ARDT

Key Points

• Seven Grand Managers LLC reduced its stake in Ardent Health, Inc. by 20.0%, owning 100,000 shares after selling 25,000 shares in the first quarter.
• Ardent Health has experienced a 1.5% decline in stock value, currently priced at $12.49, with a market capitalization of $1.79 billion.
• Despite recent downgrades by analysts, the stock has an average rating of "Moderate Buy" with a target price of $19.56.

Seven Grand Managers LLC lowered its stake in Ardent Health, Inc. (NYSE:ARDT - Free Report) by 20.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 100,000 shares of the company's stock after selling 25,000 shares during the quarter. Seven Grand Managers LLC owned 0.07% of Ardent Health worth $1,375,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Ardent Health during the fourth quarter valued at approximately $27,000. Squarepoint Ops LLC increased its stake in shares of Ardent Health by 1.8% during the fourth quarter. Squarepoint Ops LLC now owns 101,798 shares of the company's stock valued at $1,739,000 after buying an additional 1,798 shares during the period. Geode Capital Management LLC increased its stake in shares of Ardent Health by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 142,563 shares of the company's stock valued at $2,435,000 after buying an additional 2,127 shares during the period. Morse Asset Management Inc purchased a new position in shares of Ardent Health during the first quarter valued at approximately $36,000. Finally, Deutsche Bank AG increased its stake in shares of Ardent Health by 1,251.9% during the fourth quarter. Deutsche Bank AG now owns 2,866 shares of the company's stock valued at $49,000 after buying an additional 2,654 shares during the period.

Analyst Ratings Changes

ARDT has been the topic of several research analyst reports. Wall Street Zen raised Ardent Health from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 price target on shares of Ardent Health in a research note on Thursday, May 15th. Guggenheim upped their price target on Ardent Health from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Bank of America cut Ardent Health from a "neutral" rating to an "underperform" rating and reduced their price target for the stock from $15.50 to $14.60 in a research note on Wednesday, July 16th. Finally, Stephens reaffirmed an "overweight" rating and issued a $21.00 price target on shares of Ardent Health in a research note on Tuesday, May 20th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $19.56.

Ardent Health Stock Up 0.6%

Shares of NYSE ARDT traded up $0.08 during trading on Wednesday, reaching $13.00. The company had a trading volume of 62,549 shares, compared to its average volume of 402,611. Ardent Health, Inc. has a 12-month low of $10.10 and a 12-month high of $20.72. The stock has a market cap of $1.86 billion and a PE ratio of 7.17. The business's 50-day moving average is $12.43 and its 200 day moving average is $13.36. The company has a quick ratio of 2.00, a current ratio of 2.13 and a debt-to-equity ratio of 0.66.

Ardent Health (NYSE:ARDT - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.22. The firm had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.54 billion. Ardent Health had a return on equity of 16.66% and a net margin of 4.11%. Ardent Health has set its FY 2025 guidance at 1.730-2.01 EPS. As a group, equities analysts forecast that Ardent Health, Inc. will post 1.23 earnings per share for the current fiscal year.

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.