Formula Growth Ltd. Purchases 53,000 Shares of Ardent Health Partners, LLC (NYSE:ARDT)

Formula Growth Ltd. boosted its holdings in Ardent Health Partners, LLC (NYSE:ARDT) by 46.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,000 shares of the company’s stock after acquiring an additional 53,000 shares during the quarter. Formula Growth Ltd. owned 0.12% of Ardent Health Partners worth $2,835,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE purchased a new stake in shares of Ardent Health Partners during the 4th quarter valued at about $31,000. R Squared Ltd purchased a new stake in Ardent Health Partners during the 4th quarter valued at $37,000. BNP Paribas Financial Markets bought a new position in shares of Ardent Health Partners during the 3rd quarter valued at $42,000. New York State Common Retirement Fund purchased a new position in shares of Ardent Health Partners in the 4th quarter worth $48,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Ardent Health Partners by 52.6% in the fourth quarter. Wells Fargo & Company MN now owns 8,704 shares of the company’s stock worth $149,000 after acquiring an additional 3,002 shares during the period.

Ardent Health Partners Trading Up 1.6 %

Shares of NYSE:ARDT opened at $12.50 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. Ardent Health Partners, LLC has a twelve month low of $11.60 and a twelve month high of $20.72. The company’s 50 day moving average is $13.61 and its 200 day moving average is $15.57.

Ardent Health Partners (NYSE:ARDT) last issued its earnings results on Wednesday, February 26th. The company reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.31. The business had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Analysts expect that Ardent Health Partners, LLC will post 1.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Royal Bank of Canada lowered their target price on Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Stephens reaffirmed an “overweight” rating and set a $22.00 target price on shares of Ardent Health Partners in a report on Tuesday, April 1st. Guggenheim began coverage on shares of Ardent Health Partners in a research note on Wednesday, April 9th. They set a “buy” rating and a $16.00 price target on the stock. Truist Financial reduced their price objective on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley cut their price target on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $20.58.

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.