Ardent Health (NYSE:ARDT) Price Target Raised to $18.00

Ardent Health (NYSE:ARDT) had its price target lifted by analysts at Royal Bank Of Canada from $13.00 to $18.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s target price points to a potential upside of 2.69% from the stock’s previous close.

ARDT has been the topic of a number of other reports. Leerink Partners reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Ardent Health in a report on Friday, September 18th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $13.00 target price on shares of Ardent Health in a research note on Thursday, August 6th. Truist Financial increased their price objective 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. Weiss Ratings upgraded Ardent Health from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, October 6th. Finally, Guggenheim lifted their price target 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. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.21.

Ardent Health Stock Up 10.2%

Shares of ARDT stock traded up $1.63 during trading hours on Friday, reaching $17.53. The company had a trading volume of 1,301,469 shares, compared to its average volume of 467,865. Ardent Health has a 12 month low of $7.71 and a 12 month high of $17.59. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.10 and a quick ratio of 1.99. The business has a fifty day simple moving average of $11.32 and a 200-day simple moving average of $10.05. The company has a market cap of $2.47 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 3.68 and a beta of 0.58.

Ardent Health (NYSE:ARDT) last announced its earnings results on Wednesday, November 4th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.08. Ardent Health had a return on equity of 8.49% and a net margin of 2.27%. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.60 billion. On average, research analysts expect that Ardent Health will post 0.96 earnings per share for the current fiscal year.

Institutional Trading of Ardent Health

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC increased its position in shares of Ardent Health by 212.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 327,242 shares of the company’s stock valued at $3,220,000 after purchasing an additional 222,447 shares during the last quarter. Ieq Capital LLC bought a new stake in Ardent Health in the 2nd quarter worth approximately $907,000. Bank of New York Mellon Corp bought a new stake in Ardent Health in the 2nd quarter worth approximately $2,377,000. Hsbc Holdings PLC bought a new stake in Ardent Health in the 2nd quarter worth approximately $543,000. Finally, BlackRock Inc. purchased a new stake in Ardent Health in the second quarter worth approximately $21,415,000.

Ardent Health Company Profile

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.