Ardent Health Partners (NYSE:ARDT) Sets New 52-Week Low – Here’s Why

Ardent Health Partners, LLC (NYSE:ARDT) reached a new 52-week low on Friday . The stock traded as low as $13.07 and last traded at $13.16, with a volume of 591743 shares trading hands. The stock had previously closed at $13.93.

Analysts Set New Price Targets

ARDT has been the subject of a number of analyst reports. Truist Financial reduced their price target on 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. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 price target on shares of Ardent Health Partners in a report on Tuesday, December 17th. Stephens restated an “overweight” rating and issued a $22.00 price objective on shares of Ardent Health Partners in a research note on Thursday, February 27th. Morgan Stanley decreased 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 report on Tuesday, January 21st. Finally, Royal Bank of Canada dropped their target price 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 equities 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 MarketBeat, Ardent Health Partners presently has a consensus rating of “Buy” and a consensus price target 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 stock’s 50-day moving average price is $14.53 and its 200 day moving average price is $16.44.

Ardent Health Partners (NYSE:ARDT) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.81 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. Equities analysts predict that Ardent Health Partners, LLC will post 1.23 EPS for the current year.

Institutional Investors Weigh In On Ardent Health Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp bought a new position in shares of Ardent Health Partners during the 3rd quarter worth about $1,977,000. Jane Street Group LLC acquired a new stake in Ardent Health Partners during the third quarter valued at approximately $567,000. Goldentree Asset Management LP bought a new stake in shares of Ardent Health Partners in the 3rd quarter valued at approximately $22,897,000. Barclays PLC acquired a new position in shares of Ardent Health Partners in the 3rd quarter worth approximately $385,000. Finally, Geode Capital Management LLC bought a new position in shares of Ardent Health Partners during the 3rd quarter worth approximately $2,581,000.

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.