Ardent Health Partners (NYSE:ARDT) Hits New 1-Year Low - Here's What Happened

Ardent Health Partners, LLC (NYSE:ARDT - Get Free Report)'s share price 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.

Wall Street Analysts Forecast Growth

ARDT has been the topic of a number of recent analyst reports. 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. Truist Financial reduced their target price 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 reaffirmed an "overweight" rating and issued a $22.00 target price on shares of Ardent Health Partners in a research report on Tuesday, April 1st. Morgan Stanley dropped their price target on Ardent Health Partners from $23.50 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $20.00 price objective on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Two equities research 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, the stock has an average rating of "Buy" and a consensus price target of $21.18.

Ardent Health Partners Stock Performance

The firm's 50-day moving average is $14.19 and its two-hundred day moving average is $16.01. The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78.

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Ardent Health Partners (NYSE:ARDT - Get Free Report) last posted its 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 business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.48 billion. Analysts predict that Ardent Health Partners, LLC will post 1.23 earnings per share for the current year.

Institutional Investors Weigh In On Ardent Health Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Ardent Health Partners in the fourth quarter valued at approximately $27,000. US Bancorp DE acquired a new position in Ardent Health Partners in the 4th quarter valued at $31,000. R Squared Ltd bought a new position in Ardent Health Partners in the 4th quarter worth $37,000. BNP Paribas Financial Markets acquired a new position in Ardent Health Partners during the 3rd quarter worth $42,000. Finally, New York State Common Retirement Fund bought a new stake in Ardent Health Partners during the fourth quarter valued at about $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.