Ardent Health price target lowered to $21 from $23 at RBC Capital

RBC Capital analyst Ben Hendrix lowered the firm’s price target on Ardent Health (ARDT) to $21 from $23 and keeps an Outperform rating on the shares. The company posted solid Q4 results, bolstered by New Mexico Medicaid retroactive DPP – directed payment program – being recognized in the quarter, the analyst tells investors in a research note. Despite the policy uncertainty across the healthcare industry, Ardent management believes the company is relatively insulated from the often-debated reimbursement risks, the firm adds.