Ardent Health Partners (NYSE:ARDT) Trading Down 4.5% – Should You Sell?

Shares of Ardent Health Partners, LLC (NYSE:ARDT) fell 4.5% during trading on Wednesday . The stock traded as low as $12.50 and last traded at $12.39. 26,514 shares were traded during trading, a decline of 93% from the average session volume of 405,182 shares. The stock had previously closed at $12.97.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ARDT. Truist Financial decreased their price target 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. Stephens reaffirmed an “overweight” rating and issued a $22.00 target price on shares of Ardent Health Partners in a research report on Tuesday. Royal Bank of Canada lowered their target price on Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. 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, Morgan Stanley lowered their price objective on Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $21.18.

Ardent Health Partners Price Performance

The firm’s 50-day simple moving average is $14.38 and its 200 day simple moving average is $16.15. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.78 and a current ratio of 1.91.

Ardent Health Partners (NYSE:ARDT) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.31. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.48 billion. On average, sell-side analysts anticipate that Ardent Health Partners, LLC will post 1.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardent Health Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Ardent Health Partners during the fourth quarter worth $27,000. US Bancorp DE acquired a new stake in shares of Ardent Health Partners during the 4th quarter valued at $31,000. R Squared Ltd bought a new stake in Ardent Health Partners during the 4th quarter worth $37,000. BNP Paribas Financial Markets acquired a new position in Ardent Health Partners in the 3rd quarter worth about $42,000. Finally, New York State Common Retirement Fund bought a new position in Ardent Health Partners in the fourth quarter valued at about $48,000.

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.