Ardent Health Partners (NYSE:ARDT) Stock Price Down 5.6% – Time to Sell?

Ardent Health Partners, LLC (NYSE:ARDT) shares traded down 5.6% during mid-day trading on Thursday . The stock traded as low as $18.16 and last traded at $18.21. 242,137 shares changed hands during trading, a decline of 39% from the average session volume of 396,081 shares. The stock had previously closed at $19.30.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ARDT. Mizuho began coverage on Ardent Health Partners in a report on Monday, August 12th. They issued an “outperform” rating and a $20.00 price objective for the company. Loop Capital initiated coverage on Ardent Health Partners in a research report on Monday, August 12th. They set a “buy” rating and a $18.00 price objective for the company. Citigroup initiated coverage on Ardent Health Partners in a research report on Monday, August 12th. They set a “buy” rating and a $21.00 price objective for the company. Leerink Partnrs raised Ardent Health Partners to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Truist Financial initiated coverage on Ardent Health Partners in a research report on Monday, August 12th. They set a “buy” rating and a $21.00 price objective for the company. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $21.91.

Ardent Health Partners Stock Down 5.5 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 1.65 and a quick ratio of 1.54. The firm has a fifty day simple moving average of $18.47.

Ardent Health Partners (NYSE:ARDT) last released its earnings results on Wednesday, August 14th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. On average, analysts forecast that Ardent Health Partners, LLC will post 1.25 EPS for the current fiscal year.

Hedge Funds Weigh In On Ardent Health Partners

A number of hedge funds have recently made changes to their positions in ARDT. Financial Management Professionals Inc. bought a new stake in shares of Ardent Health Partners during the third quarter valued at approximately $50,000. Seven Grand Managers LLC purchased a new stake in Ardent Health Partners in the 3rd quarter worth $2,298,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Ardent Health Partners during the 3rd quarter valued at about $13,119,000.

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.