Ardent Health Partners (NYSE:ARDT) Sets New 12-Month Low – Time to Sell?

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

Analysts Set New Price Targets

Several analysts have commented on the company. Truist Financial lowered their price target on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $20.00 target price on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Royal Bank of Canada dropped their price target 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. Morgan Stanley cut 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 note on Tuesday, January 21st. Finally, Stephens restated an “overweight” rating and set a $22.00 price objective on shares of Ardent Health Partners in a report on Tuesday. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $21.18.

Ardent Health Partners Price Performance

The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. The business’s 50-day moving average is $14.34 and its two-hundred day moving average is $16.13.

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

Institutional Investors Weigh In On Ardent Health Partners

A number of large investors have recently added to or reduced their stakes in ARDT. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ardent Health Partners in the 4th quarter valued at about $27,000. Squarepoint Ops LLC boosted its holdings in Ardent Health Partners by 1.8% in the fourth quarter. Squarepoint Ops LLC now owns 101,798 shares of the company’s stock valued at $1,739,000 after purchasing an additional 1,798 shares during the last quarter. US Bancorp DE purchased a new position in Ardent Health Partners in the fourth quarter valued at about $31,000. Bank of New York Mellon Corp grew its stake in Ardent Health Partners by 8.2% during the 4th quarter. Bank of New York Mellon Corp now owns 25,615 shares of the company’s stock valued at $438,000 after purchasing an additional 1,941 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Ardent Health Partners by 1.5% during the 4th 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.

Ardent Health Partners Company Profile

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.