Prudential Financial Inc. Makes New $481,000 Investment in Ardent Health Partners, LLC (NYSE:ARDT)

Prudential Financial Inc. purchased a new position in Ardent Health Partners, LLC (NYSE:ARDT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,185 shares of the company’s stock, valued at approximately $481,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE bought a new position in Ardent Health Partners in the 4th quarter worth $31,000. Bank of New York Mellon Corp lifted its position in shares of Ardent Health Partners by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 25,615 shares of the company’s stock valued at $438,000 after acquiring an additional 1,941 shares in the last quarter. R Squared Ltd purchased a new position in shares of Ardent Health Partners in the fourth quarter valued at about $37,000. BNP Paribas Financial Markets bought a new position in shares of Ardent Health Partners in the third quarter worth about $42,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Ardent Health Partners during the fourth quarter worth about $48,000.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ARDT shares. Guggenheim started coverage on Ardent Health Partners in a research note on Wednesday. They issued a “buy” rating and a $16.00 price target for the company. Mizuho dropped their target price on shares of Ardent Health Partners from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday. Stephens reiterated an “overweight” rating and issued a $22.00 price target on shares of Ardent Health Partners in a report on Tuesday, April 1st. 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 report on Monday, January 6th. Finally, Royal Bank of Canada reduced their target price on Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $20.58.

Ardent Health Partners Stock Up 6.5 %

Shares of ARDT stock opened at $12.65 on Thursday. Ardent Health Partners, LLC has a 1 year low of $11.60 and a 1 year high of $20.72. The stock’s 50 day simple moving average is $13.99 and its two-hundred day simple moving average is $15.87. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.78 and a current ratio of 1.91.

Ardent Health Partners (NYSE:ARDT) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.81 earnings per share (EPS) 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 the consensus estimate of $1.48 billion. Equities research analysts anticipate that Ardent Health Partners, LLC will post 1.23 earnings per share for the current year.

Ardent Health Partners 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.