Ardent Health (NYSE:ARDT) Price Target Cut to $15.00 by Analysts at JPMorgan Chase & Co.

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 target dropped by JPMorgan Chase & Co. from $18.00 to $15.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 20.34% from the company's current price.

Several other equities analysts have also recently commented on ARDT. Royal Bank Of Canada restated an "outperform" rating and set a $21.00 target price on shares of Ardent Health in a research report on Thursday, May 15th. Wall Street Zen raised Ardent Health from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Guggenheim boosted their target price on Ardent Health from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, May 9th. KeyCorp lowered their target price on Ardent Health from $24.00 to $20.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Finally, Stephens reiterated an "overweight" rating and set a $21.00 target price on shares of Ardent Health in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $19.56.

Ardent Health Trading Down 0.2%

ARDT stock traded down $0.03 during mid-day trading on Monday, reaching $12.47. The company's stock had a trading volume of 275,269 shares, compared to its average volume of 405,700. The company has a market cap of $1.78 billion and a price-to-earnings ratio of 6.90. The business's 50 day moving average price is $12.51 and its 200 day moving average price is $13.41. 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 has a 12 month low of $10.10 and a 12 month high of $20.72.

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

Institutional Trading of Ardent Health

Several institutional investors have recently added to or reduced their stakes in ARDT. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ardent Health during the 4th quarter valued at $27,000. CWM LLC lifted its holdings in shares of Ardent Health by 990.6% during the 2nd quarter. CWM LLC now owns 2,203 shares of the company's stock valued at $30,000 after buying an additional 2,001 shares during the period. Morse Asset Management Inc bought a new position in shares of Ardent Health during the 1st quarter valued at $36,000. Deutsche Bank AG lifted its holdings in shares of Ardent Health by 1,251.9% during the 4th quarter. Deutsche Bank AG now owns 2,866 shares of the company's stock valued at $49,000 after buying an additional 2,654 shares during the period. Finally, Quarry LP increased its stake in Ardent Health by 1,519.4% in the 1st quarter. Quarry LP now owns 5,020 shares of the company's stock worth $69,000 after buying an additional 4,710 shares in the last quarter.

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.