Ardent Health Partners, LLC’s Lock-Up Period To Expire on January 14th (NYSE:ARDT)

Ardent Health Partners’ (NYSE:ARDT) lock-up period will end on Tuesday, January 14th. Ardent Health Partners had issued 12,000,000 shares in its IPO on July 18th. The total size of the offering was $192,000,000 based on an initial share price of $16.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ARDT. Truist Financial dropped their price objective on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Monday. Stephens reissued an “overweight” rating and issued a $24.00 price target on shares of Ardent Health Partners in a report on Thursday, September 19th. Leerink Partners increased their price objective on Ardent Health Partners from $23.00 to $25.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Bank of America downgraded shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $19.00 in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price target on shares of Ardent Health Partners in a research note on Thursday, November 14th. Two research 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 company presently has a consensus rating of “Buy” and an average target price of $22.00.

Ardent Health Partners Stock Performance

Ardent Health Partners stock opened at $16.41 on Thursday. The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. Ardent Health Partners has a 12 month low of $14.57 and a 12 month high of $20.72. The stock has a 50-day moving average price of $16.66.

Hedge Funds Weigh In On Ardent Health Partners

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