Ardent Health Partners (NYSE:ARDT) Trading Down 5% - What's Next?

Ardent Health Partners, LLC (NYSE:ARDT - Get Free Report)'s share price dropped 5% during trading on Friday . The stock traded as low as $14.40 and last traded at $14.48. Approximately 235,774 shares were traded during trading, a decline of 39% from the average daily volume of 387,820 shares. The stock had previously closed at $15.25.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Royal Bank of Canada restated an "outperform" rating and issued a $23.00 target price on shares of Ardent Health Partners in a research report on Thursday, November 14th. Leerink Partners upped their price objective on shares of Ardent Health Partners from $23.00 to $25.00 and gave the company an "outperform" rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $20.00 target price on shares of Ardent Health Partners in a research report on Tuesday, December 17th. KeyCorp began coverage on shares of Ardent Health Partners in a research report on Friday, October 11th. They set an "overweight" rating and a $24.00 price target for the company. Finally, Truist Financial decreased their price objective 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. Two analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and an average target price of $21.55.

Ardent Health Partners Stock 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 $16.11.

Ardent Health Partners (NYSE:ARDT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.10). The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. As a group, sell-side analysts anticipate that Ardent Health Partners, LLC will post 1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ARDT. Wellington Management Group LLP purchased a new position in Ardent Health Partners during the third quarter valued at $28,724,000. Point72 Asset Management L.P. bought a new stake in shares of Ardent Health Partners in the 3rd quarter worth approximately $27,428,000. Goldentree Asset Management LP purchased a new stake in shares of Ardent Health Partners in the 3rd quarter worth approximately $22,897,000. Franklin Resources Inc. bought a new position in Ardent Health Partners during the 3rd quarter valued at approximately $15,839,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Ardent Health Partners during the third quarter valued at $13,119,000.

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.

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