TBH Global Asset Management LLC Buys Shares of 20,000 Ardent Health, Inc. (NYSE:ARDT)

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

A number of other institutional investors have also recently added to or reduced their stakes in ARDT. Allspring Global Investments Holdings LLC increased its holdings in shares of Ardent Health by 4.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 817,182 shares of the company's stock valued at $10,599,000 after acquiring an additional 37,581 shares during the last quarter. Beacon Capital Management LLC acquired a new position in Ardent Health during the first quarter valued at approximately $144,000. Rhumbline Advisers raised its position in shares of Ardent Health by 46.8% in the first quarter. Rhumbline Advisers now owns 24,827 shares of the company's stock valued at $341,000 after purchasing an additional 7,914 shares during the period. Squarepoint Ops LLC raised its position in shares of Ardent Health by 1.8% in the fourth quarter. Squarepoint Ops LLC now owns 101,798 shares of the company's stock valued at $1,739,000 after purchasing an additional 1,798 shares during the period. Finally, State of Wyoming lifted its stake in shares of Ardent Health by 123.3% in the fourth quarter. State of Wyoming now owns 31,693 shares of the company's stock worth $541,000 after buying an additional 17,499 shares during the last quarter.

Wall Street Analyst Weigh In

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

Ardent Health Price Performance

Shares of Ardent Health stock traded down $0.28 during trading on Wednesday, reaching $13.45. The company's stock had a trading volume of 240,813 shares, compared to its average volume of 382,108. The stock has a 50-day moving average price of $13.83 and a two-hundred day moving average price of $14.22. The stock has a market capitalization of $1.92 billion and a P/E ratio of 8.25. The company has a current ratio of 2.12, a quick ratio of 1.98 and a debt-to-equity ratio of 0.70. Ardent Health, Inc. has a one year low of $11.31 and a one year high of $20.72.

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