Ardent Health (NYSE:ARDT) Shares Up 3.3% – Here’s Why

Ardent Health, Inc. (NYSE:ARDT)’s share price rose 3.3% during mid-day trading on Friday . The company traded as high as $9.22 and last traded at $9.27. Approximately 342,049 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 436,489 shares. The stock had previously closed at $8.97.

Analyst Ratings Changes

ARDT has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Ardent Health in a report on Monday. UBS Group decreased their target price on shares of Ardent Health from $14.50 to $14.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Leerink Partners set a $16.00 target price on Ardent Health in a research note on Friday, November 14th. Bank of America dropped their price objective on shares of Ardent Health from $12.00 to $10.00 and set an “underperform” rating on the stock in a report on Thursday, November 13th. Finally, Guggenheim lowered their price objective on shares of Ardent Health from $18.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, November 18th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $14.67.

Ardent Health Price Performance

The stock has a market cap of $1.33 billion, a PE ratio of 6.39, a P/E/G ratio of 7.38 and a beta of 0.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.95 and a current ratio of 2.08. The business has a 50 day moving average price of $11.05 and a two-hundred day moving average price of $12.23.

Ardent Health (NYSE:ARDT) last issued its quarterly earnings results on Wednesday, November 12th. The company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.10. Ardent Health had a return on equity of 19.02% and a net margin of 3.24%.The business had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.55 billion. Ardent Health has set its FY 2025 guidance at 0.850-1.030 EPS. Research analysts expect that Ardent Health, Inc. will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of Ardent Health

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Ardent Health by 368.9% in the first quarter. Vanguard Group Inc. now owns 1,330,635 shares of the company’s stock worth $18,296,000 after acquiring an additional 1,046,845 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Ardent Health by 100.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 57,255 shares of the company’s stock worth $787,000 after purchasing an additional 28,650 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Ardent Health by 140.1% during the 1st quarter. Deutsche Bank AG now owns 6,882 shares of the company’s stock worth $95,000 after purchasing an additional 4,016 shares during the last quarter. Invesco Ltd. bought a new stake in shares of Ardent Health in the 1st quarter worth approximately $226,000. Finally, Jump Financial LLC purchased a new position in Ardent Health in the first quarter valued at approximately $352,000.

About Ardent Health

Ardent Health, listed on the New York Stock Exchange under the ticker ARDT, is a healthcare delivery company focused on acquiring, developing and managing acute care hospitals and complementary outpatient facilities across the United States. The company’s integrated platform encompasses both inpatient and outpatient services, designed to provide end-to-end care solutions and address the full continuum of patient needs.

Through its network, Ardent Health operates general hospitals, emergency departments, ambulatory surgery centers, urgent care clinics, rehabilitation and post-acute care facilities.