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

Ardent Health Partners, LLC (NYSE:ARDT - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The stock traded as low as $11.56 and last traded at $11.59, with a volume of 72522 shares. The stock had previously closed at $12.51.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ARDT shares. Guggenheim started coverage on Ardent Health Partners in a research report on Wednesday, April 9th. They set a "buy" rating and a $16.00 target price on the stock. Truist Financial lowered their price objective on Ardent Health Partners from $22.00 to $21.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Mizuho reduced their target price on shares of Ardent Health Partners from $19.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Stephens restated an "overweight" rating and set a $22.00 target price on shares of Ardent Health Partners in a research note on Tuesday, April 1st. Finally, Morgan Stanley dropped their price target on shares of Ardent Health Partners from $23.50 to $22.00 and set an "overweight" rating for the company in a research report on Tuesday, January 21st. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Ardent Health Partners presently has an average rating of "Buy" and an average target price of $20.58.

Ardent Health Partners Stock Performance

The firm's 50 day simple moving average is $13.39 and its 200 day simple moving average is $15.40. The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 0.78.

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

Hedge Funds Weigh In On Ardent Health Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp purchased a new stake in shares of Ardent Health Partners during the 3rd quarter valued at about $1,977,000. Jane Street Group LLC purchased a new stake in Ardent Health Partners during the third quarter valued at approximately $567,000. Barclays PLC bought a new stake in shares of Ardent Health Partners in the 3rd quarter valued at approximately $385,000. Geode Capital Management LLC purchased a new position in shares of Ardent Health Partners in the 3rd quarter worth approximately $2,581,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Ardent Health Partners during the 3rd quarter valued at approximately $154,000.

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.