Ardent Health Partners (NYSE:ARDT) Sets New 1-Year Low – What’s Next?

Ardent Health Partners, LLC (NYSE:ARDT)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $13.63 and last traded at $13.88, with a volume of 68275 shares changing hands. The stock had previously closed at $14.10.

Analysts Set New Price Targets

A number of brokerages recently commented on ARDT. Bank of America cut shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $19.00 in a research note on Wednesday, November 6th. Truist Financial reduced 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. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 price objective on shares of Ardent Health Partners in a research report on Thursday, November 14th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Ardent Health Partners in a report on Tuesday, December 17th. Finally, KeyCorp began coverage on shares of Ardent Health Partners in a research report on Friday, October 11th. They issued an “overweight” rating and a $24.00 price objective on the stock. Two equities 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, Ardent Health Partners presently has an average rating of “Buy” and a consensus target price of $22.00.

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 company’s 50 day moving average is $16.22.

Institutional Investors Weigh In On Ardent Health Partners

Hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in Ardent Health Partners during the third quarter worth about $28,724,000. Point72 Asset Management L.P. bought a new position in Ardent Health Partners during the 3rd quarter valued at approximately $27,428,000. Goldentree Asset Management LP bought a new stake in Ardent Health Partners in the third quarter worth $22,897,000. Franklin Resources Inc. purchased a new position in shares of Ardent Health Partners in the 3rd quarter worth about $15,839,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Ardent Health Partners in the 3rd quarter worth about $13,119,000.

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.