Ardent Health Partners (NYSE:ARDT) Shares Gap Down – Here’s Why

Ardent Health Partners, LLC (NYSE:ARDT) gapped down prior to trading on Wednesday . The stock had previously closed at $18.05, but opened at $16.47. Ardent Health Partners shares last traded at $16.22, with a volume of 50,583 shares changing hands.

Analysts Set New Price Targets

ARDT has been the subject of several recent research reports. Mizuho initiated coverage on Ardent Health Partners in a research report on Monday, August 12th. They set an “outperform” rating and a $20.00 price target for the company. Royal Bank of Canada initiated coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They issued an “outperform” rating and a $23.00 target price on the stock. Leerink Partnrs upgraded Ardent Health Partners to a “strong-buy” rating in a report on Monday, August 12th. Truist Financial started coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, JPMorgan Chase & Co. initiated coverage on Ardent Health Partners in a report on Monday, August 12th. They set a “neutral” rating and a $18.00 target price on the stock. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Ardent Health Partners has a consensus rating of “Buy” and an average price target of $21.64.

Ardent Health Partners Trading Down 10.0 %

The company has a current ratio of 1.65, a quick ratio of 1.54 and a debt-to-equity ratio of 0.93. The company has a 50-day moving average of $18.58.

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, beating analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. Sell-side analysts expect that Ardent Health Partners, LLC will post 1.26 earnings per share for the current year.

Institutional Investors Weigh In On Ardent Health Partners

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