Ardent Health Partners (NYSE:ARDT) Shares Down 5% – Here’s Why

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

Analyst Ratings Changes

ARDT has been the topic of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 target price on shares of Ardent Health Partners in a research note on Thursday, November 14th. Truist Financial dropped their price target on 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. Leerink Partners raised their price target on Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $20.00 price target on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Finally, Bank of America downgraded Ardent Health Partners from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $19.00 in a research note on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $21.55.

Ardent Health Partners Price 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 business has a 50-day moving average price of $16.01.

Ardent Health Partners (NYSE:ARDT) last announced its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.10). The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.46 billion. As a group, analysts expect that Ardent Health Partners, LLC will post 1.22 EPS for the current year.

Institutional Trading of Ardent Health Partners

A number of large investors have recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of Ardent Health Partners in the fourth quarter valued at approximately $37,000. BNP Paribas Financial Markets bought a new position in Ardent Health Partners in the third quarter worth approximately $42,000. Financial Management Professionals Inc. purchased a new stake in Ardent Health Partners during the third quarter worth $50,000. MetLife Investment Management LLC purchased a new stake in Ardent Health Partners during the third quarter worth $135,000. Finally, JPMorgan Chase & Co. purchased a new stake in Ardent Health Partners during the third quarter worth $154,000.

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.