Ardent Health Partners (NYSE:ARDT) Hits New 1-Year Low – Here’s What Happened

Ardent Health Partners, LLC (NYSE:ARDT) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $12.34 and last traded at $12.84, with a volume of 617968 shares changing hands. The stock had previously closed at $12.97.

Analyst Upgrades and Downgrades

ARDT has been the topic of several recent research reports. Stephens reaffirmed an “overweight” rating and set a $22.00 target price on shares of Ardent Health Partners in a report on Tuesday. Morgan Stanley lowered their price objective on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 target price on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Truist Financial decreased their price target on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Finally, Royal Bank of Canada cut their price objective on shares of Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating for the company in a research report on Tuesday, March 4th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $21.18.

Ardent Health Partners Trading Down 4.5 %

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 stock has a 50-day simple moving average of $14.25 and a 200-day simple moving average of $16.07.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. bought a new stake in Ardent Health Partners during the 3rd quarter worth $526,000. BNP Paribas Financial Markets bought a new position in Ardent Health Partners in the third quarter valued at about $42,000. MetLife Investment Management LLC acquired a new stake in shares of Ardent Health Partners during the third quarter valued at about $135,000. Centiva Capital LP bought a new stake in shares of Ardent Health Partners during the third quarter worth about $469,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Ardent Health Partners in the third quarter valued at approximately $27,428,000.

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.