Ardent Health Partners (NYSE:ARDT) Sets New 52-Week Low – Time to Sell?

Ardent Health Partners, LLC (NYSE:ARDT)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $12.87 and last traded at $13.09, with a volume of 368636 shares traded. The stock had previously closed at $13.11.

Wall Street Analysts Forecast Growth

ARDT has been the subject of several analyst reports. Stephens restated an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research report on Wednesday. Royal Bank of Canada reduced their price target 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. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Morgan Stanley dropped their price objective on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Finally, Truist Financial decreased their target price on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two equities research 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 company has a consensus rating of “Buy” and a consensus target price of $21.18.

Ardent Health Partners Stock Performance

The company has a 50 day moving average of $14.41 and a two-hundred day moving average of $16.25. The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 0.78.

Ardent Health Partners (NYSE:ARDT) last released its earnings results on Wednesday, February 26th. The company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.31. The business had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.48 billion. As a group, equities analysts anticipate that Ardent Health Partners, LLC will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ardent Health Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. purchased a new stake in shares of Ardent Health Partners in the 3rd quarter worth approximately $526,000. BNP Paribas Financial Markets bought a new stake in Ardent Health Partners in the third quarter worth $42,000. MetLife Investment Management LLC purchased a new stake in shares of Ardent Health Partners in the third quarter worth $135,000. Goldentree Asset Management LP bought a new position in shares of Ardent Health Partners during the third quarter valued at $22,897,000. Finally, Centiva Capital LP purchased a new position in shares of Ardent Health Partners in the 3rd quarter worth about $469,000.

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.