Ardent Health Partners (NYSE:ARDT) Sets New 52-Week Low – Here’s What Happened

Ardent Health Partners, LLC (NYSE:ARDT)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $11.56 and last traded at $11.59, with a volume of 72522 shares changing hands. The stock had previously closed at $12.51.

Analyst Ratings Changes

ARDT has been the topic of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and set a $22.00 price target on shares of Ardent Health Partners in a research note on Tuesday, April 1st. Truist Financial decreased their target price on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a report on Monday, January 6th. Mizuho cut their price target on shares of Ardent Health Partners from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Morgan Stanley decreased their price objective on shares of 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, Guggenheim assumed coverage on shares of Ardent Health Partners in a research note on Wednesday, April 9th. They issued a “buy” rating and a $16.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Ardent Health Partners currently has an average rating of “Buy” and an average target price of $20.58.

Ardent Health Partners Stock 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 firm’s fifty day moving average is $13.61 and its 200-day moving average is $15.53.

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

Institutional Investors Weigh In On Ardent Health Partners

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ventas Inc. bought a new stake in Ardent Health Partners during the fourth quarter valued at $159,570,000. Point72 Asset Management L.P. boosted its holdings in shares of Ardent Health Partners by 7.9% in the 4th quarter. Point72 Asset Management L.P. now owns 1,609,720 shares of the company’s stock valued at $27,494,000 after buying an additional 117,421 shares during the period. Franklin Resources Inc. grew its position 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. Allspring Global Investments Holdings LLC raised its stake in Ardent Health Partners by 9.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 779,601 shares of the company’s stock worth $13,136,000 after acquiring an additional 65,833 shares during the period. Finally, Pier Capital LLC lifted its holdings in Ardent Health Partners by 70.1% in the fourth quarter. Pier Capital LLC now owns 373,904 shares of the company’s stock worth $6,386,000 after acquiring an additional 154,077 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.