TBH Global Asset Management LLC Buys New Stake in Ardent Health, Inc. (NYSE:ARDT)

TBH Global Asset Management LLC bought a new stake in shares of Ardent Health, Inc. (NYSE:ARDT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 20,000 shares of the company's stock, valued at approximately $275,000.

Other large investors have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ardent Health during the 4th quarter worth approximately $27,000. US Bancorp DE purchased a new stake in Ardent Health in the fourth quarter worth $31,000. New York State Common Retirement Fund bought a new stake in shares of Ardent Health during the fourth quarter worth $48,000. Deutsche Bank AG boosted 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 purchasing an additional 2,654 shares during the period. Finally, Beacon Capital Management LLC purchased a new stake in shares of Ardent Health during the first quarter valued at $144,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ARDT shares. Guggenheim raised their price target on shares of Ardent Health from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Stephens restated an "overweight" rating and issued a $21.00 target price on shares of Ardent Health in a research note on Tuesday, May 20th. Mizuho decreased their price target on shares of Ardent Health from $19.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $21.00 price target on shares of Ardent Health in a report on Thursday, May 15th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $20.67.

Ardent Health Stock Up 0.6%

ARDT stock traded up $0.08 during trading on Tuesday, hitting $13.74. 246,828 shares of the company's stock traded hands, compared to its average volume of 382,699. The firm has a market capitalization of $1.97 billion and a P/E ratio of 8.43. Ardent Health, Inc. has a 1 year low of $11.31 and a 1 year high of $20.72. 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 has a fifty day simple moving average of $13.83 and a two-hundred day simple moving average of $14.22.

Ardent Health (NYSE:ARDT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.08. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Ardent Health had a return on equity of 16.07% and a net margin of 3.73%. Sell-side analysts anticipate that Ardent Health, Inc. will post 1.23 EPS for the current year.

Ardent Health 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.