Ardent Health Partners (NYSE:ARDT) Hits New 12-Month Low – Time to Sell?

Shares of Ardent Health Partners, LLC (NYSE:ARDT) reached a new 52-week low on Thursday . The stock traded as low as $14.72 and last traded at $14.80, with a volume of 27024 shares. The stock had previously closed at $16.27.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ARDT. Truist Financial started coverage on Ardent Health Partners in a research report on Monday, August 12th. They issued a “buy” rating and a $21.00 price target for the company. Loop Capital initiated coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They issued a “buy” rating and a $18.00 target price on the stock. Royal Bank of Canada started coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They issued an “outperform” rating and a $23.00 price target on the stock. Morgan Stanley assumed coverage on Ardent Health Partners in a research note on Monday, August 12th. They set an “overweight” rating and a $27.00 price objective for the company. Finally, Leerink Partnrs raised Ardent Health Partners to a “strong-buy” rating in a report on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Ardent Health Partners currently has an average rating of “Buy” and a consensus target price of $21.64.

Ardent Health Partners Stock Performance

The company has a quick ratio of 1.54, a current ratio of 1.65 and a debt-to-equity ratio of 0.93. The firm’s 50 day moving average price is $18.53.

Ardent Health Partners (NYSE:ARDT) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The company had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.46 billion. On average, sell-side analysts anticipate that Ardent Health Partners, LLC will post 1.26 EPS for the current fiscal year.

Institutional Trading of Ardent Health Partners

Several institutional investors have recently bought and sold shares of the company. Financial Management Professionals Inc. purchased a new stake in shares of Ardent Health Partners during the third quarter valued at approximately $50,000. Seven Grand Managers LLC bought a new position in shares of Ardent Health Partners during the third quarter valued at $2,298,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Ardent Health Partners during the third quarter valued at $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.