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 during trading on Wednesday . The company traded as low as $13.54 and last traded at $13.73, with a volume of 108043 shares changing hands. The stock had previously closed at $14.20.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. JPMorgan Chase & Co. restated a “neutral” rating and set a $20.00 target price on shares of Ardent Health Partners in a report on Tuesday, December 17th. Leerink Partners lifted their price objective on Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Stephens restated an “overweight” rating and issued a $22.00 target price on shares of Ardent Health Partners in a report on Thursday, February 27th. Finally, Truist Financial cut their target price on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $21.18.

Ardent Health Partners Price Performance

The company has a debt-to-equity ratio of 0.78, a current ratio of 1.91 and a quick ratio of 1.78. The company’s fifty day moving average is $14.95 and its two-hundred day moving average is $16.72.

Ardent Health Partners (NYSE:ARDT) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.31. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, sell-side analysts expect that Ardent Health Partners, LLC will post 1.23 EPS for the current year.

Institutional Trading of Ardent Health Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. acquired a new stake in Ardent Health Partners during the 3rd quarter worth $526,000. BNP Paribas Financial Markets acquired a new stake in shares of Ardent Health Partners during the third quarter worth about $42,000. MetLife Investment Management LLC acquired a new stake in shares of Ardent Health Partners during the third quarter worth about $135,000. Goldentree Asset Management LP acquired a new stake in shares of Ardent Health Partners in the 3rd quarter valued at about $22,897,000. Finally, Centiva Capital LP purchased a new position in Ardent Health Partners during the 3rd quarter worth approximately $469,000.

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.