Ardent Health Partners (NYSE:ARDT) Hits New 52-Week Low – What’s Next?

Ardent Health Partners, LLC (NYSE:ARDT) hit a new 52-week low on Wednesday . The stock traded as low as $14.00 and last traded at $14.05, with a volume of 656358 shares. The stock had previously closed at $16.05.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of Ardent Health Partners in a research note on Thursday, September 19th. KeyCorp started coverage on shares of Ardent Health Partners in a research note on Friday, October 11th. They issued an “overweight” rating and a $24.00 price target for the company. Bank of America downgraded shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $22.00 to $19.00 in a research report on Wednesday, November 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 price objective on shares of Ardent Health Partners in a research report on Thursday, November 14th. Finally, Truist Financial dropped their target price on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $22.00.

Ardent Health Partners Price Performance

The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 0.78. The company’s fifty day moving average price is $16.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in shares of Ardent Health Partners during the third quarter worth approximately $42,000. Financial Management Professionals Inc. purchased a new stake in Ardent Health Partners in the 3rd quarter valued at $50,000. MetLife Investment Management LLC acquired a new stake in Ardent Health Partners during the 3rd quarter worth $135,000. JPMorgan Chase & Co. purchased a new position in Ardent Health Partners during the 3rd quarter worth $154,000. Finally, Quadrature Capital Ltd acquired a new position in Ardent Health Partners in the third quarter valued at $229,000.

About Ardent Health Partners

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.