Point72 Asset Management L.P. Raises Stake in Ardent Health Partners, LLC (NYSE:ARDT)

Point72 Asset Management L.P. boosted its stake in shares of Ardent Health Partners, LLC (NYSE:ARDT - Free Report) by 7.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,609,720 shares of the company's stock after purchasing an additional 117,421 shares during the period. Point72 Asset Management L.P. owned approximately 1.13% of Ardent Health Partners worth $27,494,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ARDT. Ventas Inc. purchased a new position in shares of Ardent Health Partners during the 4th quarter valued at approximately $159,570,000. Segall Bryant & Hamill LLC acquired a new position in shares of Ardent Health Partners during the fourth quarter valued at approximately $4,478,000. Pier Capital LLC lifted its position in shares of Ardent Health Partners by 70.1% in the fourth quarter. Pier Capital LLC now owns 373,904 shares of the company's stock valued at $6,386,000 after acquiring an additional 154,077 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Ardent Health Partners by 220.6% during the fourth quarter. Nuveen Asset Management LLC now owns 169,475 shares of the company's stock worth $2,895,000 after purchasing an additional 116,610 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Ardent Health Partners by 128.8% during the fourth quarter. Bank of America Corp DE now owns 168,370 shares of the company's stock worth $2,876,000 after buying an additional 94,772 shares in the last quarter.

Ardent Health Partners Stock Performance

ARDT traded down $0.25 on Thursday, hitting $14.69. 102,700 shares of the company traded hands, compared to its average volume of 393,553. Ardent Health Partners, LLC has a 12-month low of $11.31 and a 12-month high of $20.72. The company has a 50 day moving average of $13.22 and a 200-day moving average of $14.80. The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $2.10 billion and a PE ratio of 9.01.

Ardent Health Partners (NYSE:ARDT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.21 by $0.08. The company had revenue of $1.50 billion for the quarter, compared to analysts' expectations of $1.50 billion. Sell-side analysts anticipate that Ardent Health Partners, LLC will post 1.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Guggenheim upped their price objective on shares of Ardent Health Partners from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Royal Bank of Canada reiterated an "outperform" rating and set a $21.00 price target on shares of Ardent Health Partners in a report on Thursday, May 15th. Mizuho cut their target price on Ardent Health Partners from $19.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Stephens reissued an "overweight" rating and issued a $21.00 price objective on shares of Ardent Health Partners in a research note on Tuesday. Two equities 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $20.67.

Ardent Health Partners 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.