Royal Bank of Canada Cuts Ardent Health Partners (NYSE:ARDT) Price Target to $21.00

Ardent Health Partners (NYSE:ARDT) had its price target cut by equities researchers at Royal Bank of Canada from $23.00 to $21.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 40.24% from the company’s current price.

Several other research firms have also recently issued reports on ARDT. Bank of America cut shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and cut their price target for the company from $22.00 to $19.00 in a report on Wednesday, November 6th. Truist Financial cut their target price on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Stephens reiterated an “overweight” rating and issued a $22.00 price target on shares of Ardent Health Partners in a research note on Thursday, February 27th. Leerink Partners boosted their price objective on Ardent Health Partners from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Finally, Morgan Stanley reduced their target price on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $21.18.

Ardent Health Partners Stock Performance

NYSE:ARDT opened at $14.97 on Tuesday. Ardent Health Partners has a one year low of $13.55 and a one year high of $20.72. The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. The business’s 50-day simple moving average is $15.18 and its 200 day simple moving average is $16.82.

Ardent Health Partners (NYSE:ARDT) last announced its earnings results on Wednesday, February 26th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.31. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.48 billion. Research analysts forecast that Ardent Health Partners will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ARDT. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ardent Health Partners in the fourth quarter valued at $27,000. US Bancorp DE bought a new stake in Ardent Health Partners in the 4th quarter valued at about $31,000. R Squared Ltd bought a new stake in Ardent Health Partners in the 4th quarter valued at about $37,000. BNP Paribas Financial Markets acquired a new position in Ardent Health Partners during the 3rd quarter valued at about $42,000. Finally, New York State Common Retirement Fund bought a new position in Ardent Health Partners in the 4th quarter worth about $48,000.

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.