Ardent Health Partners (NYSE:ARDT) Shares Gap Up – Here’s Why

Ardent Health Partners, LLC (NYSE:ARDT)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $16.69, but opened at $17.10. Ardent Health Partners shares last traded at $16.93, with a volume of 45,373 shares changing hands.

Analysts Set New Price Targets

ARDT has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Ardent Health Partners in a research report on Thursday, November 14th. Bank of America downgraded Ardent Health Partners from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $19.00 in a report on Wednesday, November 6th. Leerink Partners lifted their price target on Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. KeyCorp began coverage on shares of Ardent Health Partners in a report on Friday, October 11th. They issued an “overweight” rating and a $24.00 target price for the company. Finally, Stephens reissued an “overweight” rating and set a $24.00 target price on shares of Ardent Health Partners in a research note on Thursday, September 19th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $22.00.

Ardent Health Partners Stock Up 1.3 %

The firm has a fifty day moving average of $16.92. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.78 and a current ratio of 1.91.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in Ardent Health Partners in the third quarter worth $42,000. Financial Management Professionals Inc. purchased a new position in shares of Ardent Health Partners in the 3rd quarter worth $50,000. MetLife Investment Management LLC purchased a new position in shares of Ardent Health Partners in the 3rd quarter worth $135,000. JPMorgan Chase & Co. bought a new stake in shares of Ardent Health Partners in the 3rd quarter worth about $154,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Ardent Health Partners during the 3rd quarter valued at about $229,000.

About Ardent Health Partners

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.