Ardent Health Partners (NYSE:ARDT) Downgraded to Neutral Rating by Bank of America

Bank of America cut shares of Ardent Health Partners (NYSE:ARDT) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, Marketbeat reports. The firm currently has $19.00 target price on the stock, down from their prior target price of $22.00.

A number of other equities research analysts also recently weighed in on the company. Citigroup initiated coverage on Ardent Health Partners in a research report on Monday, August 12th. They set a “buy” rating and a $21.00 target price for the company. Truist Financial assumed coverage on Ardent Health Partners in a report on Monday, August 12th. They issued a “buy” rating and a $21.00 price objective for the company. Royal Bank of Canada initiated coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued an “outperform” rating and a $23.00 price target for the company. Mizuho initiated coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They issued an “outperform” rating and a $20.00 target price for the company. Finally, Leerink Partners started coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They issued an “outperform” rating and a $23.00 price target for the company. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $21.64.

Ardent Health Partners Stock Performance

NYSE ARDT opened at $16.25 on Wednesday. The stock has a fifty day moving average of $18.53. The company has a current ratio of 1.65, a quick ratio of 1.54 and a debt-to-equity ratio of 0.93. Ardent Health Partners has a 52-week low of $15.00 and a 52-week high of $20.72.

Ardent Health Partners (NYSE:ARDT) last released its quarterly earnings results on Wednesday, August 14th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. Research analysts predict that Ardent Health Partners will post 1.26 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ARDT. Allspring Global Investments Holdings LLC acquired a new position in Ardent Health Partners during the third quarter valued at approximately $13,119,000. Seven Grand Managers LLC bought a new stake in Ardent Health Partners during the third quarter worth $2,298,000. Finally, Financial Management Professionals Inc. acquired a new stake in Ardent Health Partners in the third quarter valued at $50,000.

Ardent Health Partners 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.