Ardent Health price target lowered to $17 from $19 at Loop Capital

Loop Capital analyst Timothy Greaves lowered the firm’s price target on Ardent Health (ARDT) to $17 from $19 and keeps a Buy rating on the shares. The company has reported disappointing results and a downward guidance due to an increase in payer denial rates and escalating cost pressures during the quarter, the analyst tells investors in a research note. Ardent management is tackling the challenges related to costs and margins through its IMPACT program however, which aims to reduce expenses and enhance revenue cycle efficiencies, the firm added.