Ardent Health (NYSE:ARDT) Rating Lowered to “Underperform” at Bank of America

Ardent Health (NYSE:ARDT) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They presently have a $14.60 price target on the stock, down from their prior price target of $15.50. Bank of America‘s price target would suggest a potential upside of 26.13% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada reiterated an “outperform” rating and issued a $21.00 price target on shares of Ardent Health in a report on Thursday, May 15th. Wall Street Zen downgraded Ardent Health from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 12th. Mizuho reduced their price target on Ardent Health from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Stephens reiterated an “overweight” rating and issued a $21.00 price target on shares of Ardent Health in a report on Tuesday, May 20th. Finally, Guggenheim increased their price objective on Ardent Health from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.30.

Ardent Health Trading Down 3.6%

Shares of ARDT stock opened at $11.58 on Wednesday. Ardent Health has a 1 year low of $11.31 and a 1 year high of $20.72. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.12 and a quick ratio of 1.98. The stock’s 50 day simple moving average is $13.94 and its two-hundred day simple moving average is $13.99. The company has a market cap of $1.66 billion and a PE ratio of 7.10.

Ardent Health (NYSE:ARDT) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.08. Ardent Health had a return on equity of 16.07% and a net margin of 3.73%. The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Research analysts predict that Ardent Health will post 1.23 earnings per share for the current year.

Institutional Trading of Ardent Health

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Oliver Luxxe Assets LLC boosted its position in Ardent Health by 1.5% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 87,639 shares of the company’s stock valued at $1,197,000 after acquiring an additional 1,319 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Ardent Health in the 2nd quarter worth $1,383,000. Voya Investment Management LLC boosted its position in shares of Ardent Health by 77.9% in the 1st quarter. Voya Investment Management LLC now owns 26,468 shares of the company’s stock worth $364,000 after purchasing an additional 11,594 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Ardent Health by 46.8% in the 1st quarter. Rhumbline Advisers now owns 24,827 shares of the company’s stock worth $341,000 after purchasing an additional 7,914 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Ardent Health in the 1st quarter worth $494,000.

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.