Ardent Health Partners (NYSE:ARDT) Reaches New 12-Month Low – What’s Next?

Ardent Health Partners, LLC (NYSE:ARDT) shares reached a new 52-week low on Wednesday . The stock 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.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley reduced their price target on shares of Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. restated a “neutral” rating and set a $20.00 price target on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Truist Financial reduced their price target on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Stephens restated an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research report on Thursday, February 27th. Finally, Royal Bank of Canada dropped their price objective on shares of Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. 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 stock. According to MarketBeat.com, Ardent Health Partners currently has an average rating of “Buy” and an average price target of $21.18.

Ardent Health Partners Trading Up 5.1 %

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 50-day moving average is $14.81 and its two-hundred day moving average is $16.67.

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in Ardent Health Partners during the fourth quarter valued at approximately $27,000. Squarepoint Ops LLC grew its holdings in shares of Ardent Health Partners by 1.8% in the fourth quarter. Squarepoint Ops LLC now owns 101,798 shares of the company’s stock worth $1,739,000 after purchasing an additional 1,798 shares during the last quarter. US Bancorp DE bought a new position in shares of Ardent Health Partners in the fourth quarter worth approximately $31,000. Bank of New York Mellon Corp grew its holdings in shares of Ardent Health Partners by 8.2% in the fourth quarter. Bank of New York Mellon Corp now owns 25,615 shares of the company’s stock worth $438,000 after purchasing an additional 1,941 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Ardent Health Partners by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 142,563 shares of the company’s stock worth $2,435,000 after purchasing an additional 2,127 shares during the last quarter.

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.