Ardent Health (NYSE:ARDT) Sets New 52-Week High - Here's What Happened

Key Points

• Ardent Health hit a new 52-week high during Friday trading, reaching $16.31 and last trading at about $16.43, up from a prior close of $15.90.
• The company beat quarterly estimates, reporting earnings of $0.31 per share versus $0.23 expected and revenue of $1.62 billion versus $1.60 billion forecast.
• Analyst views remain mixed: seven rate the stock Buy, six Hold and two Sell. The consensus rating is Hold, with an average price target of $12.79.

Ardent Health, Inc. (NYSE:ARDT - Get Free Report) hit a new 52-week high during mid-day trading on Friday. The company traded as high as $16.31 and last traded at $16.4310, with a volume of 147,072 shares changing hands. The stock had previously closed at $15.90.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Ardent Health from $12.00 to $13.00 and gave the stock an "outperform" rating in a research note on Monday, August 10th. Guggenheim upped their target price on shares of Ardent Health from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Truist Financial boosted their price target on shares of Ardent Health from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Zacks Research raised shares of Ardent Health from a "strong sell" rating to a "hold" rating in a research report on Monday, September 7th. Finally, Wall Street Zen cut Ardent Health from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $12.79.

Ardent Health Stock Performance

The company has a market capitalization of $2.45 billion, a PE ratio of 16.85, a PEG ratio of 3.68 and a beta of 0.58. The business's 50-day moving average is $11.32 and its 200-day moving average is $10.05. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.99 and a current ratio of 2.10.

Ardent Health (NYSE:ARDT - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.08. The company had revenue of $1.62 billion during the quarter, compared to analyst estimates of $1.60 billion. Ardent Health had a net margin of 2.27% and a return on equity of 8.49%. On average, research analysts anticipate that Ardent Health, Inc. will post 0.96 earnings per share for the current year.

Hedge Funds Weigh In On Ardent Health

A number of hedge funds have recently bought and sold shares of ARDT. BlackRock Inc. purchased a new position in shares of Ardent Health in the 2nd quarter worth $21,415,000. Algert Global LLC grew its holdings in shares of Ardent Health by 1,277.3% in the second quarter. Algert Global LLC now owns 597,745 shares of the company's stock worth $5,882,000 after acquiring an additional 554,345 shares during the period. Empowered Funds LLC purchased a new stake in Ardent Health during the second quarter valued at $5,425,000. First Trust Advisors LP increased its position in Ardent Health by 70.9% during the first quarter. First Trust Advisors LP now owns 478,795 shares of the company's stock valued at $4,098,000 after acquiring an additional 198,595 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in Ardent Health during the second quarter valued at $3,840,000.

About Ardent Health

Ardent Health is a U.S. healthcare services company that operates hospitals, outpatient facilities and physician practices. Its services include emergency and acute care, surgery, cardiology, orthopedics, oncology, women's health, behavioral health, rehabilitation, imaging and other specialty and primary care offerings.

The company serves patients through regional health networks and hospital campuses primarily in Texas, Oklahoma, New Mexico and other U.S. markets. In addition to hospital-based care, Ardent operates outpatient clinics, urgent care locations and other facilities designed to provide services across different stages of the patient-care process.

Ardent Health was founded in 2001 and became a publicly traded company on the New York Stock Exchange in 2024.

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