Wedge Capital Management L L P NC Grows Stake in Ardent Health, Inc. $ARDT

Wedge Capital Management L L P NC raised its stake in shares of Ardent Health, Inc. (NYSE:ARDT) by 212.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 327,242 shares of the company’s stock after acquiring an additional 222,447 shares during the period. Wedge Capital Management L L P NC’s holdings in Ardent Health were worth $3,220,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in shares of Ardent Health by 3.7% in the first quarter. The Manufacturers Life Insurance Company now owns 29,812 shares of the company’s stock worth $255,000 after buying an additional 1,072 shares in the last quarter. Geode Capital Management LLC grew its holdings in Ardent Health by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 286,848 shares of the company’s stock valued at $3,918,000 after buying an additional 1,769 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Ardent Health by 1,177.7% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,862 shares of the company’s stock worth $25,000 after acquiring an additional 2,638 shares during the last quarter. Alliancebernstein L.P. increased its stake in Ardent Health by 24.8% in the 3rd quarter. Alliancebernstein L.P. now owns 16,472 shares of the company’s stock worth $218,000 after acquiring an additional 3,272 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Ardent Health by 121.4% during the 2nd quarter. New York State Common Retirement Fund now owns 6,200 shares of the company’s stock worth $85,000 after acquiring an additional 3,400 shares in the last quarter.

Insider Buying and Selling

In other news, CFO Alfred Lumsdaine acquired 10,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $8.81 per share, for a total transaction of $88,100.00. Following the completion of the transaction, the chief financial officer directly owned 329,183 shares of the company’s stock, valued at approximately $2,900,102.23. The trade was a 3.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.90% of the stock is owned by insiders.

Ardent Health Price Performance

NYSE:ARDT opened at $10.98 on Friday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 3.19 and a beta of 0.70. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.12 and a quick ratio of 2.00. The business has a 50 day simple moving average of $10.16 and a 200-day simple moving average of $9.57. Ardent Health, Inc. has a 1 year low of $7.71 and a 1 year high of $15.48.

Ardent Health (NYSE:ARDT) last released its earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.06). Ardent Health had a net margin of 1.22% and a return on equity of 10.45%. The company had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.59 billion. Ardent Health has set its FY 2026 guidance at 0.780-1.150 EPS. Equities analysts forecast that Ardent Health, Inc. will post 0.95 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ARDT shares. Zacks Research downgraded Ardent Health from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 6th. Truist Financial upped their price target on shares of Ardent Health from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Royal Bank Of Canada increased their price objective on shares of Ardent Health from $12.00 to $13.00 and gave the company an “outperform” rating in a research report on Monday. The Goldman Sachs Group reissued a “neutral” rating and issued a $13.00 price objective on shares of Ardent Health in a research note on Thursday, August 6th. Finally, Wall Street Zen downgraded shares of Ardent Health from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Seven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $13.05.

Ardent Health Company Profile

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.