Ardent Health Partners, LLC (NYSE:ARDT) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Ardent Health Partners, LLC (NYSE:ARDT) by 8.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 25,615 shares of the company’s stock after acquiring an additional 1,941 shares during the period. Bank of New York Mellon Corp’s holdings in Ardent Health Partners were worth $438,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ARDT. R Squared Ltd bought a new position in Ardent Health Partners during the 4th quarter worth approximately $37,000. BNP Paribas Financial Markets acquired a new stake in shares of Ardent Health Partners during the 3rd quarter valued at approximately $42,000. New York State Common Retirement Fund bought a new position in Ardent Health Partners during the fourth quarter worth $48,000. MetLife Investment Management LLC acquired a new position in Ardent Health Partners in the third quarter worth $135,000. Finally, JPMorgan Chase & Co. bought a new stake in Ardent Health Partners during the third quarter valued at $154,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ARDT. Royal Bank of Canada reduced their price target on shares of Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley decreased their target price on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Stephens reiterated an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research report on Wednesday. Truist Financial reduced their price objective on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 target price 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 assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $21.18.

Ardent Health Partners Stock Performance

ARDT stock opened at $13.18 on Friday. The company has a 50-day simple moving average of $14.41 and a 200 day simple moving average of $16.25. 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, LLC has a fifty-two week low of $12.87 and a fifty-two week high of $20.72.

Ardent Health Partners (NYSE:ARDT) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.31. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, research analysts predict that Ardent Health Partners, LLC will post 1.23 earnings per share for the current year.

Ardent Health Partners Company Profile

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.