Ardent Health Partners (NYSE:ARDT) Sets New 1-Year Low – Time to Sell?

Ardent Health Partners, LLC (NYSE:ARDT) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $13.07 and last traded at $13.16, with a volume of 591743 shares. The stock had previously closed at $13.93.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Stephens restated an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research note on Thursday, February 27th. Morgan Stanley decreased their price target on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, January 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 price objective on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Royal Bank of Canada decreased their target price on shares of Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating for the company in a research note on Tuesday, March 4th. Finally, Truist Financial dropped their price target on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $21.18.

Ardent Health Partners Stock Performance

The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. The company has a 50 day simple moving average of $14.58 and a 200-day simple moving average of $16.50.

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

Institutional Investors Weigh In On Ardent Health Partners

A number of institutional investors have recently modified their holdings of ARDT. State Street Corp bought a new position in shares of Ardent Health Partners during the third quarter valued at approximately $1,977,000. Jane Street Group LLC bought a new position in Ardent Health Partners during the 3rd quarter worth $567,000. Goldentree Asset Management LP acquired a new stake in Ardent Health Partners in the third quarter worth $22,897,000. Barclays PLC bought a new stake in Ardent Health Partners in the third quarter valued at $385,000. Finally, Geode Capital Management LLC acquired a new position in shares of Ardent Health Partners during the third quarter valued at $2,581,000.

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.