Ardent Health's 15-Min Chart Triggers KDJ Golden Cross, Bullish Marubozu.

Based on the 15-minute chart analysis at Bloomberg, Ardent Health's price momentum has shifted in a bullish direction, as indicated by the KDJ Golden Cross and Bullish Marubozu signals on August 12, 2023 at 13:00. This suggests a strong upward trend and a high likelihood of further price appreciation, as buyers currently dominate the market. As a result, investors may want to consider taking a bullish position on the stock.

JPMorgan has revised its price target for Ardent Health Partners Inc. (ARDT) to $15.00, down from $18.00, while maintaining a Neutral rating on the stock [1]. The adjustment comes after the company reported its second-quarter earnings, which exceeded estimates. Ardent Health benefited from the New Mexico Directed Payment Program (DPP) approval, which provided a $65 million EBITDA benefit in the quarter [1].

Despite the earnings beat, JPMorgan cited higher Medicaid supplemental taxes as a reason for the downward revision. The firm reduced its adjusted EBITDA forecast for 2025 to $593 million from $597 million and applied a 4.6x multiple to the revised 2027 adjusted EBITDA estimate, leading to the lower price target [1]. Ardent Health Partners reported earnings per share of $0.52 for the second quarter, surpassing the Zacks Consensus Estimate of $0.3 per share [2]. Revenue for the quarter reached $1.65 billion, up 11.9% year-over-year, demonstrating the company's robust financial health [2].

The stock has shown significant volatility, gaining 15.3% in the past week but losing 30.4% year-to-date. Investors should closely monitor management's commentary on the earnings call and future earnings expectations for a clearer picture of the stock's potential [2].

References:
[1] https://ca.investing.com/news/analyst-ratings/jpmorgan-lowers-ardent-health-partners-stock-price-target-to-15-on-medicaid-tax-impact-93CH-4149379
[2] https://www.nasdaq.com/articles/ardent-health-inc-ardt-q2-earnings-and-revenues-surpass-estimates