Strs Ohio Makes New Investment in Ardent Health, Inc. $ARDT

Key Points

• Strs Ohio has purchased a new stake in Ardent Health, Inc., acquiring 35,900 shares valued at approximately $494,000 in the first quarter of the year.
• Multiple hedge funds, including Vanguard Group and Goldman Sachs, significantly increased their stakes in Ardent Health, reflecting a growing interest in the company.
• Despite positive earnings results that beat estimates, Ardent Health's stock saw a 3.7% decline recently, with analysts providing mixed ratings and a consensus price target of $19.33.

Strs Ohio acquired a new stake in Ardent Health, Inc. (NYSE:ARDT - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 35,900 shares of the company's stock, valued at approximately $494,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new position in Ardent Health during the first quarter worth $469,000. Nuveen Asset Management LLC increased its holdings in Ardent Health by 220.6% during the fourth quarter. Nuveen Asset Management LLC now owns 169,475 shares of the company's stock worth $2,895,000 after buying an additional 116,610 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in Ardent Health during the first quarter worth about $2,327,000. Vanguard Group Inc. increased its stake in shares of Ardent Health by 368.9% in the first quarter. Vanguard Group Inc. now owns 1,330,635 shares of the company's stock worth $18,296,000 after purchasing an additional 1,046,845 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in shares of Ardent Health in the first quarter worth about $1,537,000.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. UBS Group started coverage on shares of Ardent Health in a research report on Wednesday, September 10th. They set a "buy" rating and a $17.00 target price for the company. Bank of America downgraded shares of Ardent Health from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $15.50 to $14.60 in a research note on Wednesday, July 16th. Wall Street Zen raised shares of Ardent Health from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. reduced their target price on shares of Ardent Health from $18.00 to $15.00 and set a "neutral" rating on the stock in a research report on Monday, August 11th. Finally, KeyCorp lowered their target price on shares of Ardent Health from $24.00 to $20.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Ardent Health currently has a consensus rating of "Moderate Buy" and an average target price of $19.33.

Ardent Health Stock Up 2.0%

Shares of Ardent Health stock traded up $0.26 during trading on Monday, hitting $13.08. 267,770 shares of the stock traded hands, compared to its average volume of 388,805. The firm has a market cap of $1.87 billion, a P/E ratio of 7.08, a price-to-earnings-growth ratio of 5.67 and a beta of 0.29. The company has a current ratio of 2.13, a quick ratio of 2.00 and a debt-to-equity ratio of 0.66. Ardent Health, Inc. has a 52-week low of $10.10 and a 52-week high of $20.72. The stock's fifty day simple moving average is $12.18 and its 200 day simple moving average is $13.04.

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

Ardent Health Company Profile

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.