Ardent Health Partners (NYSE:ARDT) Shares Gap Down – Should You Sell?

Ardent Health Partners, LLC (NYSE:ARDT) gapped down before the market opened on Tuesday . The stock had previously closed at $13.75, but opened at $13.36. Ardent Health Partners shares last traded at $12.76, with a volume of 178,293 shares changing hands.

Analysts Set New Price Targets

ARDT has been the topic of a number of analyst reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $20.00 price target on shares of Ardent Health Partners in a report on Tuesday, December 17th. Royal Bank of Canada cut their target price on Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Stephens reissued an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research report on Tuesday. Truist Financial lowered 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 report on Monday, January 6th. Finally, Morgan Stanley reduced their price objective on shares of Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Two equities 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. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $21.18.

Ardent Health Partners Trading Down 4.6 %

The stock’s 50 day simple moving average is $14.40 and its 200-day simple moving average is $16.19. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.78 and a current ratio of 1.91.

Ardent Health Partners (NYSE:ARDT) last released its 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 firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.48 billion. Research analysts forecast that Ardent Health Partners, LLC will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ARDT. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ardent Health Partners during the 4th quarter worth approximately $27,000. US Bancorp DE acquired a new position in shares of Ardent Health Partners in the 4th quarter valued at about $31,000. R Squared Ltd purchased a new stake in shares of Ardent Health Partners in the fourth quarter worth about $37,000. BNP Paribas Financial Markets acquired a new stake in Ardent Health Partners during the third quarter worth about $42,000. Finally, New York State Common Retirement Fund purchased a new position in Ardent Health Partners during the fourth quarter valued at approximately $48,000.

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.