Ardent Health Partners (NYSE:ARDT) Shares Down 4.5% - What's Next?

Shares of Ardent Health Partners, LLC (NYSE:ARDT - Get Free Report) dropped 4.5% during trading on Wednesday . The stock traded as low as $12.50 and last traded at $12.39. Approximately 26,514 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 405,182 shares. The stock had previously closed at $12.97.

Analysts Set New Price Targets

Several analysts have recently commented on ARDT shares. Morgan Stanley decreased their price target on shares of Ardent Health Partners from $23.50 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, January 21st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $20.00 price target on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Royal Bank of Canada lowered their price objective on Ardent Health Partners from $23.00 to $21.00 and set an "outperform" rating on the stock in a research 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 on the stock in a report on Monday, January 6th. Finally, Stephens reaffirmed an "overweight" rating and issued a $22.00 price objective on shares of Ardent Health Partners in a research note on Tuesday, April 1st. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $21.18.

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Ardent Health Partners Stock Down 1.9 %

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 firm has a fifty day moving average price of $14.25 and a two-hundred day moving average price of $16.05.

Ardent Health Partners (NYSE:ARDT - Get Free Report) last issued 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 for the quarter, compared to the consensus estimate of $1.48 billion. On average, sell-side analysts predict that Ardent Health Partners, LLC will post 1.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ARDT. Point72 Asia Singapore Pte. Ltd. purchased a new position in Ardent Health Partners during the 4th quarter worth $27,000. US Bancorp DE purchased a new position in shares of Ardent Health Partners in the fourth quarter worth about $31,000. R Squared Ltd purchased a new stake in shares of Ardent Health Partners in the 4th quarter valued at $37,000. BNP Paribas Financial Markets purchased a new position in Ardent Health Partners during the third quarter valued at approximately $42,000. Finally, New York State Common Retirement Fund purchased a new stake in Ardent Health Partners during the fourth quarter worth $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.