Morgan Stanley Issues Pessimistic Forecast for Ardent Health Partners (NYSE:ARDT) Stock Price

Ardent Health Partners (NYSE:ARDT) had its price target cut by Morgan Stanley from $23.50 to $22.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price target would suggest a potential upside of 51.83% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $23.00 target price on shares of Ardent Health Partners in a research report on Thursday, November 14th. Bank of America lowered Ardent Health Partners from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $19.00 in a report on Wednesday, November 6th. Truist Financial lowered their target price on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, January 6th. JPMorgan Chase & Co. restated a “neutral” rating and set a $20.00 price target on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Finally, KeyCorp assumed coverage on shares of Ardent Health Partners in a report on Friday, October 11th. They issued an “overweight” rating and a $24.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $21.55.

Ardent Health Partners Stock Performance

ARDT stock opened at $14.49 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.91 and a quick ratio of 1.78. Ardent Health Partners has a 1-year low of $13.63 and a 1-year high of $20.72. The business has a fifty day simple moving average of $16.11.

Ardent Health Partners (NYSE:ARDT) last issued its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.46 billion. On average, equities analysts predict that Ardent Health Partners will post 1.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Ardent Health Partners

Several large investors have recently made changes to their positions in the business. Oliver Luxxe Assets LLC purchased a new position in Ardent Health Partners in the 4th quarter worth approximately $1,465,000. JPMorgan Chase & Co. purchased a new position in shares of Ardent Health Partners in the third quarter worth $154,000. Franklin Resources Inc. purchased a new position in Ardent Health Partners during the third quarter valued at $15,839,000. Barclays PLC purchased a new stake in Ardent Health Partners in the 3rd quarter worth $385,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Ardent Health Partners during the 3rd quarter worth approximately $2,581,000.

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.