Ardent Health (NYSE:ARDT) Hits New 1-Year Low After Analyst Downgrade

Ardent Health, Inc. (NYSE:ARDTGet Free Report)’s stock price hit a new 52-week low on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $12.00 to $11.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Ardent Health traded as low as $8.26 and last traded at $8.2550, with a volume of 220293 shares changing hands. The stock had previously closed at $8.60.

A number of other research analysts have also recently weighed in on the stock. KeyCorp cut shares of Ardent Health from an “overweight” rating to a “sector weight” rating in a research note on Monday, November 17th. Royal Bank Of Canada lowered their price objective on Ardent Health from $21.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, November 14th. Wall Street Zen cut Ardent Health from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Guggenheim decreased their target price on Ardent Health from $18.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Finally, Bank of America dropped their price target on Ardent Health from $12.00 to $10.00 and set an “underperform” rating for the company in a research note on Thursday, November 13th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Ardent Health presently has an average rating of “Hold” and a consensus target price of $14.58.

Read Our Latest Analysis on Ardent Health

Ardent Health News Summary

Here are the key news stories impacting Ardent Health this week:

Institutional Trading of Ardent Health

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its position in Ardent Health by 8.2% during the third quarter. Ameriprise Financial Inc. now owns 1,769,335 shares of the company’s stock valued at $23,444,000 after acquiring an additional 134,513 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Ardent Health by 44.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,352,676 shares of the company’s stock worth $17,923,000 after purchasing an additional 416,348 shares during the period. Millennium Management LLC grew its holdings in Ardent Health by 6.6% during the 3rd quarter. Millennium Management LLC now owns 1,269,605 shares of the company’s stock valued at $16,822,000 after purchasing an additional 78,861 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Ardent Health by 1.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 828,611 shares of the company’s stock worth $11,377,000 after purchasing an additional 11,429 shares during the period. Finally, SageView Advisory Group LLC raised its position in Ardent Health by 367.2% in the 2nd quarter. SageView Advisory Group LLC now owns 790,663 shares of the company’s stock worth $10,800,000 after purchasing an additional 621,430 shares during the period.

Ardent Health Trading Down 3.7%

The company’s 50 day simple moving average is $8.96 and its 200-day simple moving average is $11.65. The firm has a market cap of $1.19 billion, a P/E ratio of 5.71, a P/E/G ratio of 4.91 and a beta of 0.72. The company has a quick ratio of 1.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.67.

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

About Ardent Health

(Get Free Report)

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.

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