Ardent Health Partners (NYSE:ARDT) Shares Gap Down – What’s Next?

Ardent Health Partners, LLC (NYSE:ARDT) gapped down prior to trading 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 trading hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on ARDT. Truist Financial decreased their price objective 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. Stephens reiterated an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a report on Tuesday. Morgan Stanley dropped 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 issued a $20.00 target price on shares of Ardent Health Partners in a report on Tuesday, December 17th. Finally, Royal Bank of Canada cut their price target 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 research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $21.18.

Ardent Health Partners Trading Down 1.0 %

The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 0.78. The stock has a 50 day moving average of $14.34 and a 200-day moving average of $16.13.

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

Institutional Trading of Ardent Health Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of ARDT. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Ardent Health Partners in the fourth quarter worth $27,000. US Bancorp DE purchased a new stake in Ardent Health Partners in the fourth quarter valued at approximately $31,000. R Squared Ltd bought a new stake in Ardent Health Partners during the fourth quarter valued at approximately $37,000. BNP Paribas Financial Markets bought a new position in shares of Ardent Health Partners in the 3rd quarter worth $42,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Ardent Health Partners during the 4th quarter valued at $48,000.

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.