JPMorgan Chase & Co. Issues Pessimistic Forecast for Ardent Health (NYSE:ARDT) Stock Price

Key Points

• JPMorgan Chase & Co. has reduced its price target for Ardent Health from $18.00 to $15.00, maintaining a "neutral" rating on the stock.
• Various brokerages have mixed ratings on Ardent Health, with one raising its rating to "strong-buy" while others have cut their target prices significantly.
• Ardent Health recently reported earnings of $0.52 per share, surpassing expectations, and has a current market capitalization of $1.70 billion.

Ardent Health (NYSE:ARDT - Get Free Report) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $18.00 to $15.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 26.37% from the company's previous close.

Several other brokerages have also recently weighed in on ARDT. Wall Street Zen raised shares of Ardent Health from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Bank of America cut shares of Ardent Health from a "neutral" rating to an "underperform" rating and reduced their price objective for the stock from $15.50 to $14.60 in a research note on Wednesday, July 16th. KeyCorp reduced their price objective 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. Guggenheim lifted their target price 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. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 target price on shares of Ardent Health in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $19.55.

Ardent Health Stock Performance

Shares of Ardent Health stock opened at $11.87 on Monday. The firm has a market capitalization of $1.70 billion and a P/E ratio of 6.56. The company's 50 day moving average price is $12.68 and its two-hundred day moving average price is $13.46. 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 has a fifty-two week low of $10.10 and a fifty-two week high of $20.72.

Ardent Health (NYSE:ARDT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.22. Ardent Health had a net margin of 4.11% and a return on equity of 16.66%. The company had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.54 billion. On average, equities analysts forecast that Ardent Health will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardent Health

Institutional investors and hedge funds have recently made changes to their positions in the business. Ventas Inc. purchased a new stake in shares of Ardent Health in the fourth quarter worth approximately $159,570,000. Point72 Asset Management L.P. boosted its holdings in Ardent Health by 7.9% during the fourth quarter. Point72 Asset Management L.P. now owns 1,609,720 shares of the company's stock worth $27,494,000 after purchasing an additional 117,421 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Ardent Health by 368.9% during 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 during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Ardent Health by 1.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 828,611 shares of the company's stock valued at $11,377,000 after acquiring an additional 11,429 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in Ardent Health by 1,684.9% in the first quarter. Goldman Sachs Group Inc. now owns 767,862 shares of the company's stock valued at $10,558,000 after acquiring an additional 724,841 shares during the last quarter.

About Ardent Health

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.

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