Ardent Health Partners (NYSE:ARDT) Lowered to “Neutral” Rating by Bank of America

Bank of America lowered shares of Ardent Health Partners (NYSE:ARDT) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. They currently have $19.00 price target on the stock, down from their prior price target of $22.00.

A number of other equities research analysts have also commented on the stock. Leerink Partners started coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They issued an “outperform” rating and a $23.00 price objective on the stock. Loop Capital began coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They issued a “buy” rating and a $18.00 price objective on the stock. Royal Bank of Canada began coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They set an “outperform” rating and a $23.00 target price on the stock. Citigroup began coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They set a “buy” rating and a $21.00 target price on the stock. Finally, Leerink Partnrs raised shares of Ardent Health Partners to a “strong-buy” rating in a research note on Monday, August 12th. Two 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, Ardent Health Partners presently has an average rating of “Buy” and an average price target of $21.64.

Ardent Health Partners Trading Down 6.7 %

ARDT stock opened at $16.37 on Wednesday. The stock’s 50 day moving average is $18.42. Ardent Health Partners has a 1 year low of $14.57 and a 1 year high of $20.72. The company has a quick ratio of 1.54, a current ratio of 1.65 and a debt-to-equity ratio of 0.93.

Ardent Health Partners (NYSE:ARDT) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.46 billion. Research analysts forecast that Ardent Health Partners will post 1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in Ardent Health Partners during the third quarter worth $13,119,000. Seven Grand Managers LLC purchased a new stake in shares of Ardent Health Partners in the third quarter valued at about $2,298,000. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Ardent Health Partners in the third quarter valued at about $50,000.

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.