Ardent Health Partners (NYSE:ARDT) Sets New 12-Month Low - What's Next?

Ardent Health Partners, LLC (NYSE:ARDT - Get Free Report) shares hit a new 52-week low on Friday . The company traded as low as $13.63 and last traded at $13.98, with a volume of 54957 shares changing hands. The stock had previously closed at $15.16.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. 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 report on Monday, January 6th. Royal Bank of Canada reduced 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 report on Tuesday. JPMorgan Chase & Co. restated a "neutral" rating and issued a $20.00 price target on shares of Ardent Health Partners in a report on Tuesday, December 17th. Bank of America lowered shares of Ardent Health Partners from a "buy" rating to a "neutral" rating and reduced their price target for the company from $22.00 to $19.00 in a report on Wednesday, November 6th. Finally, Stephens reiterated an "overweight" rating and set a $22.00 price objective on shares of Ardent Health Partners in a research note on Thursday, February 27th. Two 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. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $21.18.

Ardent Health Partners Trading Down 0.4 %

The firm's 50-day simple moving average is $15.18 and its two-hundred day simple moving average is $16.82. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.50 by $0.31. The business had revenue of $1.61 billion during the quarter, compared to analysts' expectations of $1.48 billion. On average, equities research analysts expect that Ardent Health Partners, LLC will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Ardent Health Partners

Large investors have recently made changes to their positions in the company. State Street Corp acquired a new position in shares of Ardent Health Partners in the 3rd quarter valued at $1,977,000. Jane Street Group LLC acquired a new position in shares of Ardent Health Partners in the 3rd quarter valued at $567,000. Goldentree Asset Management LP acquired a new position in shares of Ardent Health Partners in the 3rd quarter valued at $22,897,000. Barclays PLC acquired a new position in Ardent Health Partners during the third quarter worth $385,000. Finally, Geode Capital Management LLC acquired a new position in Ardent Health Partners during the third quarter worth $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.