Ardent Health Partners (NYSE:ARDT) Shares Gap Down - What's Next?

Ardent Health Partners, LLC (NYSE:ARDT - Get Free Report) shares 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 changing hands.

Analyst Upgrades and Downgrades

ARDT has been the subject of several recent research reports. Truist Financial reduced their price objective 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. Royal Bank of Canada reduced their price target on Ardent Health Partners from $23.00 to $21.00 and set an "outperform" rating for the company in a research report on Tuesday, March 4th. Morgan Stanley lowered their price objective on shares of Ardent Health Partners from $23.50 to $22.00 and set an "overweight" rating on the stock in a report on Tuesday, January 21st. JPMorgan Chase & Co. restated a "neutral" rating and set a $20.00 target price on shares of Ardent Health Partners in a report on Tuesday, December 17th. Finally, Stephens reaffirmed an "overweight" rating and issued a $22.00 target price on shares of Ardent Health Partners in a research report on Tuesday. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $21.18.

Ardent Health Partners Price Performance

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 company's 50 day moving average is $14.25 and its 200-day moving average is $16.07.

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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, beating analysts' consensus estimates of $0.50 by $0.31. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.48 billion. On average, sell-side analysts expect that Ardent Health Partners, LLC will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Ardent Health Partners

Several large investors have recently modified their holdings of ARDT. Ventas Inc. bought a new position in Ardent Health Partners in the 4th quarter valued at about $159,570,000. Wellington Management Group LLP bought a new position in shares of Ardent Health Partners during the third quarter worth approximately $28,724,000. Point72 Asset Management L.P. bought a new position in shares of Ardent Health Partners during the third quarter worth approximately $27,428,000. Franklin Resources Inc. acquired a new stake in Ardent Health Partners during the 3rd quarter worth approximately $15,839,000. Finally, Segall Bryant & Hamill LLC bought a new stake in Ardent Health Partners in the 4th quarter valued at $4,478,000.

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.