Ardent Health (NYSE:ARDT) Given New $14.00 Price Target at Bank of America

Ardent Health (NYSE:ARDT) had its price target increased by Bank of America from $12.00 to $14.00 in a research note released on Friday morning, Marketbeat reports. Bank of America currently has an underperform rating on the stock.

A number of other research analysts have also recently commented on the stock. Royal Bank Of Canada increased their target price on shares of Ardent Health from $13.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, November 6th. Stephens lifted their price target on shares of Ardent Health from $13.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Mizuho set a $21.00 price objective on shares of Ardent Health in a research report on Wednesday. Truist Financial increased their price objective on shares of Ardent Health from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, BMO Capital Markets started coverage on shares of Ardent Health in a research note on Tuesday, September 22nd. They issued a “market perform” rating and a $11.00 price objective for the company. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.86.

Ardent Health Price Performance

Shares of Ardent Health stock traded up $0.07 during trading on Friday, reaching $17.75. 779,496 shares of the company’s stock were exchanged, compared to its average volume of 780,413. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.03 and a current ratio of 2.13. Ardent Health has a 1-year low of $7.71 and a 1-year high of $18.57. The company has a market cap of $2.50 billion, a P/E ratio of 17.24, a PEG ratio of 3.20 and a beta of 0.58. The firm’s 50-day moving average price is $12.14 and its 200 day moving average price is $10.33.

Ardent Health (NYSE:ARDT) last released its quarterly earnings data on Wednesday, November 4th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.08. Ardent Health had a return on equity of 8.41% and a net margin of 2.27%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.60 billion. As a group, research analysts anticipate that Ardent Health will post 1.05 earnings per share for the current year.

Institutional Trading of Ardent Health

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Ardent Health in the 2nd quarter valued at approximately $21,415,000. Algert Global LLC grew its holdings in Ardent Health by 1,277.3% during the 2nd quarter. Algert Global LLC now owns 597,745 shares of the company’s stock worth $5,882,000 after acquiring an additional 554,345 shares during the last quarter. First Trust Advisors LP increased its position in Ardent Health by 5.9% in the 3rd quarter. First Trust Advisors LP now owns 595,710 shares of the company’s stock valued at $6,160,000 after acquiring an additional 33,432 shares during the period. Empowered Funds LLC increased its position in Ardent Health by 1.0% in the 3rd quarter. Empowered Funds LLC now owns 556,586 shares of the company’s stock valued at $5,755,000 after acquiring an additional 5,293 shares during the period. Finally, Bank of America Corp DE acquired a new position in Ardent Health in the 2nd quarter valued at approximately $3,840,000.

About Ardent Health

Ardent Health is a U.S. healthcare provider that operates hospitals and other care facilities. Its services include inpatient and outpatient care, emergency services, surgery, and specialty and primary care through affiliated clinics and medical groups. The company serves communities in several states, including New Mexico, Oklahoma, and Texas. Its regional health systems include Lovelace Health System, Hillcrest HealthCare System, and UT Health East Texas. Ardent Health was formerly known as Ardent Health Services and became a publicly traded company in 2023.