Ardent Health Partners (NYSE:ARDT) Reaches New 12-Month Low – What’s Next?

Ardent Health Partners, LLC (NYSE:ARDT) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $13.63 and last traded at $13.98, with a volume of 54957 shares traded. The stock had previously closed at $15.16.

Wall Street Analyst Weigh In

ARDT has been the topic of several research reports. Leerink Partners lifted their price target on shares of Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Truist Financial reduced their target price on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Stephens reissued an “overweight” rating and issued a $22.00 price target on shares of Ardent Health Partners in a research note on Thursday. Morgan Stanley cut their price target on shares of Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. Finally, Bank of America downgraded Ardent Health Partners from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $21.36.

Ardent Health Partners Trading Down 3.3 %

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 has a 50 day moving average of $15.23 and a 200-day moving average of $16.84.

Ardent Health Partners (NYSE:ARDT) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.31. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, analysts anticipate that Ardent Health Partners, LLC will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Ventas Inc. bought a new stake in shares of Ardent Health Partners during the 4th quarter valued at about $159,570,000. Point72 Asset Management L.P. lifted its holdings in Ardent Health Partners by 7.9% in the fourth quarter. Point72 Asset Management L.P. now owns 1,609,720 shares of the company’s stock worth $27,494,000 after buying an additional 117,421 shares during the period. Wellington Management Group LLP bought a new stake in Ardent Health Partners during the 3rd quarter valued at approximately $28,724,000. Goldentree Asset Management LP bought a new stake in Ardent Health Partners during the 3rd quarter valued at approximately $22,897,000. Finally, Franklin Resources Inc. grew its holdings in shares of Ardent Health Partners by 9.4% during the 4th quarter. Franklin Resources Inc. now owns 917,926 shares of the company’s stock worth $15,678,000 after acquiring an additional 78,575 shares during the period.

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.