Ardent Health Partners (NYSE:ARDT) Stock Price Down 5.6% – Should You Sell?

Ardent Health Partners, LLC (NYSE:ARDT)’s stock price fell 5.6% during mid-day trading on Thursday . The company traded as low as $18.16 and last traded at $18.21. 242,137 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 396,081 shares. The stock had previously closed at $19.30.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Leerink Partnrs raised Ardent Health Partners to a “strong-buy” rating in a report on Monday, August 12th. Royal Bank of Canada began coverage on shares of Ardent Health Partners in a research report on Monday, August 12th. They set an “outperform” rating and a $23.00 price objective for the company. Loop Capital initiated coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They issued a “buy” rating and a $18.00 target price on the stock. Bank of America started coverage on Ardent Health Partners in a research report on Monday, August 12th. They issued a “buy” rating and a $22.00 price target for the company. Finally, Mizuho began coverage on Ardent Health Partners in a research report on Monday, August 12th. They set an “outperform” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Ardent Health Partners presently has an average rating of “Buy” and a consensus target price of $21.91.

Ardent Health Partners Stock Down 5.5 %

The company has a debt-to-equity ratio of 0.93, a current ratio of 1.65 and a quick ratio of 1.54. The firm has a fifty day moving average of $18.47.

Ardent Health Partners (NYSE:ARDT) last released its earnings results on Wednesday, August 14th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. As a group, research analysts anticipate that Ardent Health Partners, LLC will post 1.25 EPS for the current year.

Institutional Investors Weigh In On Ardent Health Partners

Large investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new stake in shares of Ardent Health Partners during the third quarter valued at approximately $50,000. Seven Grand Managers LLC purchased a new stake in shares of Ardent Health Partners in the 3rd quarter worth $2,298,000. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Ardent Health Partners during the 3rd quarter worth $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.