Ardent Health Partners (NYSE:ARDT) Updates FY 2024 Earnings Guidance

Ardent Health Partners (NYSE:ARDT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.230-1.370 for the period, compared to the consensus earnings per share estimate of 1.260. The company issued revenue guidance of $5.8 billion-$5.9 billion, compared to the consensus revenue estimate of $5.8 billion.

Ardent Health Partners Stock Down 6.7 %

Shares of ARDT traded down $1.17 during mid-day trading on Friday, reaching $16.37. The company had a trading volume of 383,726 shares, compared to its average volume of 380,187. The company has a quick ratio of 1.54, a current ratio of 1.65 and a debt-to-equity ratio of 0.93. The company’s fifty day simple moving average is $18.42. Ardent Health Partners has a fifty-two week low of $14.57 and a fifty-two week high of $20.72.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Royal Bank of Canada began coverage on Ardent Health Partners in a report on Monday, August 12th. They set an “outperform” rating and a $23.00 price objective on the stock. KeyCorp assumed coverage on shares of Ardent Health Partners in a report on Friday, October 11th. They issued an “overweight” rating and a $24.00 price target on the stock. Mizuho began coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They set an “outperform” rating and a $20.00 price objective for the company. Stephens restated an “overweight” rating and issued a $24.00 target price on shares of Ardent Health Partners in a research note on Thursday, September 19th. Finally, Leerink Partners initiated coverage on Ardent Health Partners in a report on Monday, August 12th. They issued an “outperform” rating and a $23.00 price objective for the company. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Ardent Health Partners has an average rating of “Buy” and a consensus target price of $21.64.

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.