Ardent Health Partners (NYSE:ARDT) Reaches New 1-Year Low – Time to Sell?

Shares of Ardent Health Partners, LLC (NYSE:ARDT) reached a new 52-week low on Friday . The stock traded as low as $13.07 and last traded at $13.16, with a volume of 591743 shares. The stock had previously closed at $13.93.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ARDT shares. Morgan Stanley lowered their target price on shares of Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Stephens reissued an “overweight” rating and set a $22.00 target price on shares of Ardent Health Partners in a report on Thursday, February 27th. Truist Financial decreased their price target on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Royal Bank of Canada dropped their price objective 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. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $20.00 target price on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Two 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 company’s stock. According to data from MarketBeat.com, Ardent Health Partners has a consensus rating of “Buy” and a consensus target price of $21.18.

Ardent Health Partners Stock Down 5.5 %

The firm’s fifty day simple moving average is $14.53 and its 200 day simple moving average is $16.44. 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 posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.31. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.48 billion. As a group, 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 large investors have recently made changes to their positions in the business. Ventas Inc. acquired a new stake in shares of Ardent Health Partners during the fourth quarter worth approximately $159,570,000. Point72 Asset Management L.P. boosted its position in Ardent Health Partners by 7.9% during the fourth quarter. Point72 Asset Management L.P. now owns 1,609,720 shares of the company’s stock valued at $27,494,000 after purchasing an additional 117,421 shares during the last quarter. Wellington Management Group LLP acquired a new position in Ardent Health Partners in the 3rd quarter worth about $28,724,000. Goldentree Asset Management LP acquired a new stake in shares of Ardent Health Partners during the 3rd quarter valued at about $22,897,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Ardent Health Partners by 9.4% during the 4th quarter. Franklin Resources Inc. now owns 917,926 shares of the company’s stock valued at $15,678,000 after buying an additional 78,575 shares during the last quarter.

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.