Ardent Health (NYSE:ARDT) Given New $10.00 Price Target at Bank of America

Ardent Health (NYSE:ARDT) had its target price reduced by research analysts at Bank of America from $12.00 to $10.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s price target would suggest a potential upside of 5.82% from the stock’s previous close.

Several other research firms also recently weighed in on ARDT. Weiss Ratings upgraded shares of Ardent Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. KeyCorp reduced their target price on shares of Ardent Health from $24.00 to $20.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Wall Street Zen raised Ardent Health from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 9th. The Goldman Sachs Group began coverage on Ardent Health in a report on Tuesday, October 14th. They issued a “neutral” rating and a $19.00 target price for the company. Finally, UBS Group initiated coverage on Ardent Health in a report on Wednesday, September 10th. They set a “buy” rating and a $17.00 price target on the stock. Eight analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Ardent Health has an average rating of “Moderate Buy” and a consensus price target of $18.36.

Ardent Health Stock Performance

Shares of NYSE ARDT traded down $4.60 during midday trading on Thursday, reaching $9.45. 2,410,125 shares of the stock were exchanged, compared to its average volume of 401,100. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 5.20, a PEG ratio of 6.21 and a beta of 0.44. Ardent Health has a twelve month low of $8.98 and a twelve month high of $17.95. The company has a quick ratio of 2.00, a current ratio of 2.13 and a debt-to-equity ratio of 0.66. The firm has a 50-day simple moving average of $13.95 and a two-hundred day simple moving average of $13.39.

Ardent Health (NYSE:ARDT) last released its earnings results on Wednesday, November 12th. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.10. Ardent Health had a return on equity of 16.66% and a net margin of 4.11%. Ardent Health has set its FY 2025 guidance at 0.850-1.030 EPS. As a group, analysts anticipate that Ardent Health will post 1.23 EPS for the current fiscal year.

Institutional Trading of Ardent Health

A number of hedge funds have recently added to or reduced their stakes in ARDT. CWM LLC increased its holdings in shares of Ardent Health by 990.6% in the second quarter. CWM LLC now owns 2,203 shares of the company’s stock valued at $30,000 after purchasing an additional 2,001 shares during the period. Morse Asset Management Inc acquired a new position in Ardent Health in the 1st quarter valued at $36,000. Quarry LP raised its position in Ardent Health by 1,519.4% during 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 during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Ardent Health in the 3rd quarter worth $80,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Ardent Health by 121.4% in the second quarter. New York State Common Retirement Fund now owns 6,200 shares of the company’s stock valued at $85,000 after acquiring an additional 3,400 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.