Royal Bank of Canada Has Lowered Expectations for Ardent Health Partners (NYSE:ARDT) Stock Price

Ardent Health Partners (NYSE:ARDT) had its price objective dropped by stock analysts at Royal Bank of Canada from $23.00 to $21.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 37.14% from the stock’s current price.

A number of other equities research analysts have also weighed in on ARDT. Bank of America lowered Ardent Health Partners from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $19.00 in a report on Wednesday, November 6th. Stephens reissued an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research note on Thursday, February 27th. Morgan Stanley decreased their price target on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Truist Financial decreased their price target on 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. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $20.00 price target on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $21.18.

Ardent Health Partners Stock Performance

Shares of ARDT opened at $15.31 on Tuesday. Ardent Health Partners has a twelve month low of $13.55 and a twelve month high of $20.72. The stock’s 50 day moving average is $15.16 and its two-hundred day moving average is $16.81. The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 0.78.

Ardent Health Partners (NYSE:ARDT) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.81 earnings per share 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 analysts’ expectations of $1.48 billion. On average, equities analysts expect that Ardent Health Partners will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARDT. Point72 Asia Singapore Pte. Ltd. acquired a new position in Ardent Health Partners in the 4th quarter valued at $27,000. US Bancorp DE acquired a new position in Ardent Health Partners in the 4th quarter valued at $31,000. R Squared Ltd acquired a new position in Ardent Health Partners in the 4th quarter valued at $37,000. BNP Paribas Financial Markets acquired a new position in Ardent Health Partners in the 3rd quarter valued at $42,000. Finally, New York State Common Retirement Fund acquired a new position in Ardent Health Partners in the 4th quarter valued at $48,000.

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.