BlackRock Inc. Buys New Position in Ardent Health, Inc. $ARDT

Key Points

• BlackRock purchased 2.18 million Ardent Health shares worth approximately $21.4 million, giving it a 1.52% stake in the healthcare company.
• Ardent Health’s CFO bought 10,000 shares for $88,100, while several other institutional investors also increased or initiated positions.
• Analysts have generally raised price targets, with a consensus target of $13.05 and a “Hold” rating. The stock recently traded at $10.89 after Ardent reported quarterly revenue above estimates but earnings per share below expectations.

BlackRock Inc. purchased a new position in shares of Ardent Health, Inc. (NYSE:ARDT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,176,348 shares of the company's stock, valued at approximately $21,415,000. BlackRock Inc. owned approximately 1.52% of Ardent Health as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of Ardent Health by 1,177.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,862 shares of the company's stock valued at $25,000 after purchasing an additional 2,638 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Ardent Health during the 3rd quarter worth $61,000. Monetary Solutions Ltd acquired a new position in Ardent Health in the 4th quarter worth $79,000. New York State Common Retirement Fund lifted its holdings in Ardent Health by 121.4% in the 2nd quarter. New York State Common Retirement Fund now owns 6,200 shares of the company's stock worth $85,000 after buying an additional 3,400 shares in the last quarter. Finally, Abel Hall LLC purchased a new position in Ardent Health in the 1st quarter valued at about $87,000.

Insider Activity at Ardent Health

In other news, CFO Alfred Lumsdaine purchased 10,000 shares of the stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of $8.81 per share, for a total transaction of $88,100.00. Following the transaction, the chief financial officer owned 329,183 shares in the company, valued at $2,900,102.23. This trade represents a 3.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ARDT. Truist Financial boosted their price target on Ardent Health from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. UBS Group lifted their price objective on Ardent Health from $13.00 to $13.50 and gave the stock a "buy" rating in a report on Thursday, May 7th. Royal Bank Of Canada upped their target price on Ardent Health from $12.00 to $13.00 and gave the company an "outperform" rating in a research report on Monday, August 10th. Guggenheim increased their target price on Ardent Health from $13.00 to $14.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $13.00 price target on shares of Ardent Health in a research report on Thursday, August 6th. Seven research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $13.05.

Ardent Health Trading Down 0.5%

Ardent Health stock opened at $10.89 on Thursday. Ardent Health, Inc. has a 1 year low of $7.71 and a 1 year high of $15.48. The firm's 50-day moving average is $10.65 and its 200-day moving average is $9.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.99 and a current ratio of 2.10. The company has a market cap of $1.54 billion, a P/E ratio of 19.80, a PEG ratio of 3.06 and a beta of 0.71.

Ardent Health (NYSE:ARDT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.06). Ardent Health had a return on equity of 10.35% and a net margin of 1.22%.The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.59 billion. Ardent Health has set its FY 2026 guidance at 0.780-1.150 EPS. On average, equities analysts expect that Ardent Health, Inc. will post 0.97 earnings per share for the current year.

About Ardent Health

Ardent Health, listed on the New York Stock Exchange under the ticker ARDT, is a healthcare delivery company focused on acquiring, developing and managing acute care hospitals and complementary outpatient facilities across the United States. The company's integrated platform encompasses both inpatient and outpatient services, designed to provide end-to-end care solutions and address the full continuum of patient needs.

Through its network, Ardent Health operates general hospitals, emergency departments, ambulatory surgery centers, urgent care clinics, rehabilitation and post-acute care facilities.

Want to see what other hedge funds are holding ARDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ardent Health, Inc. (NYSE:ARDT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source