JPMorgan Chase & Co. Makes New Investment in Ardent Health Partners, LLC (NYSE:ARDT)

JPMorgan Chase & Co. purchased a new stake in shares of Ardent Health Partners, LLC (NYSE:ARDT) in the third quarter, HoldingsChannel reports. The firm purchased 8,390 shares of the company’s stock, valued at approximately $154,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp acquired a new position in Ardent Health Partners during the 3rd quarter worth about $1,977,000. Jane Street Group LLC purchased a new stake in Ardent Health Partners during the third quarter worth about $567,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ardent Health Partners during the third quarter worth about $13,119,000. Goldentree Asset Management LP purchased a new position in shares of Ardent Health Partners in the third quarter valued at approximately $22,897,000. Finally, Barclays PLC acquired a new position in shares of Ardent Health Partners in the third quarter valued at approximately $385,000.

Ardent Health Partners Stock Performance

ARDT opened at $14.96 on Friday. 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, LLC has a one year low of $13.63 and a one year high of $20.72. The business’s 50-day simple moving average is $15.86 and its 200-day simple moving average is $17.12.

Ardent Health Partners (NYSE:ARDT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.10). The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.46 billion. As a group, analysts forecast that Ardent Health Partners, LLC will post 1.22 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Bank of America lowered shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $22.00 to $19.00 in a report on Wednesday, November 6th. KeyCorp began coverage on Ardent Health Partners in a research note on Friday, October 11th. They issued an “overweight” rating and a $24.00 price objective on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 target price on shares of Ardent Health Partners in a report on Tuesday, December 17th. Morgan Stanley cut their price target on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $23.00 price objective on shares of Ardent Health Partners in a research note on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Ardent Health Partners presently has an average rating of “Buy” and a consensus price target of $21.55.

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.