Wedge Capital Management L L P NC Invests $1.38 Million in Ardent Health, Inc. $ARDT

Key Points

• Wedge Capital Management invested approximately $1.38 million in Ardent Health, acquiring 101,214 shares during the second quarter, representing a 0.07% ownership stake.
• Recent analyst ratings for Ardent Health have been mixed, with a consensus rating of "Moderate Buy" and an average price target of $19.33, despite various target adjustments from firms like JPMorgan and Bank of America.
• Ardent Health reported earnings of $0.52 per share, exceeding expectations, and provided FY 2025 guidance ranging from 1.730 to 2.01 EPS.

Wedge Capital Management L L P NC acquired a new position in Ardent Health, Inc. (NYSE:ARDT - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 101,214 shares of the company's stock, valued at approximately $1,383,000. Wedge Capital Management L L P NC owned about 0.07% of Ardent Health as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Voya Investment Management LLC raised its stake in shares of Ardent Health by 77.9% in the first quarter. Voya Investment Management LLC now owns 26,468 shares of the company's stock worth $364,000 after purchasing an additional 11,594 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Ardent Health by 46.8% in the first quarter. Rhumbline Advisers now owns 24,827 shares of the company's stock worth $341,000 after purchasing an additional 7,914 shares during the last quarter. Strs Ohio purchased a new stake in shares of Ardent Health in the first quarter worth approximately $494,000. Acadian Asset Management LLC raised its stake in shares of Ardent Health by 574.9% in the first quarter. Acadian Asset Management LLC now owns 40,238 shares of the company's stock worth $550,000 after purchasing an additional 34,276 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in shares of Ardent Health by 235.1% in the first quarter. Jane Street Group LLC now owns 57,468 shares of the company's stock worth $790,000 after purchasing an additional 40,318 shares during the last quarter.

Wall Street Analyst Weigh In

ARDT has been the subject of several recent analyst reports. Wall Street Zen raised Ardent Health from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. JPMorgan Chase & Co. reduced their target price on Ardent Health from $18.00 to $15.00 and set a "neutral" rating for the company in a report on Monday, August 11th. UBS Group initiated coverage on Ardent Health in a report on Wednesday, September 10th. They issued a "buy" rating and a $17.00 target price for the company. Bank of America lowered Ardent Health from a "neutral" rating to an "underperform" rating and reduced their target price for the company from $15.50 to $14.60 in a report on Wednesday, July 16th. Finally, KeyCorp reduced their target price on Ardent Health from $24.00 to $20.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Nine research 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $19.33.

Ardent Health Trading Up 2.0%

NYSE:ARDT opened at $13.08 on Tuesday. The company has a market cap of $1.87 billion, a P/E ratio of 7.23, a P/E/G ratio of 5.67 and a beta of 0.29. The stock's fifty day moving average price is $12.18 and its two-hundred day moving average price is $13.04. Ardent Health, Inc. has a 1 year low of $10.10 and a 1 year high of $20.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.13 and a quick ratio of 2.00.

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, topping the consensus estimate of $0.30 by $0.22. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate 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, analysts expect 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.