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

Ardent Health Partners’ (NYSE:ARDT) lock-up period will expire on Tuesday, January 14th. Ardent Health Partners had issued 12,000,000 shares in its initial public offering on July 18th. The total size of the offering was $192,000,000 based on an initial share price of $16.00. After the expiration of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analysts Set New Price Targets

Several brokerages have recently commented on ARDT. KeyCorp initiated coverage on Ardent Health Partners in a research report on Friday, October 11th. They issued an “overweight” rating and a $24.00 target price for the company. Stephens reaffirmed an “overweight” rating and set a $24.00 target price on shares of Ardent Health Partners in a research note on Thursday, September 19th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $20.00 price target on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Leerink Partners boosted their price objective on shares of Ardent Health Partners from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. 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 analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $22.00.

Ardent Health Partners Stock Down 4.7 %

ARDT stock opened at $15.86 on Tuesday. Ardent Health Partners has a 1 year low of $14.57 and a 1 year high of $20.72. The firm has a fifty day simple moving average of $16.71. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.91 and a quick ratio of 1.78.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP acquired a new stake in Ardent Health Partners in the 3rd quarter worth approximately $28,724,000. Point72 Asset Management L.P. acquired a new stake in shares of Ardent Health Partners in the third quarter worth $27,428,000. Goldentree Asset Management LP acquired a new stake in shares of Ardent Health Partners in the third quarter worth $22,897,000. Franklin Resources Inc. bought a new stake in shares of Ardent Health Partners during the 3rd quarter worth $15,839,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Ardent Health Partners in the 3rd quarter valued at $13,119,000.

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.