Ardent Health Partners (NYSE:ARDT) Shares Down 4.1% – Time to Sell?

Ardent Health Partners, LLC (NYSE:ARDT) shares fell 4.1% during mid-day trading on Tuesday . The company traded as low as $16.31 and last traded at $16.31. 6,433 shares were traded during mid-day trading, a decline of 98% from the average session volume of 366,550 shares. The stock had previously closed at $17.00.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ARDT. Morgan Stanley assumed coverage on Ardent Health Partners in a research note on Monday, August 12th. They issued an “overweight” rating and a $27.00 target price for the company. Loop Capital assumed coverage on Ardent Health Partners in a research report on Monday, August 12th. They set a “buy” rating and a $18.00 price objective for the company. Leerink Partnrs raised Ardent Health Partners to a “strong-buy” rating in a research report on Monday, August 12th. Leerink Partners raised their price objective on Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Citigroup assumed coverage on Ardent Health Partners in a research report on Monday, August 12th. They set a “buy” rating and a $21.00 price objective for the company. 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 MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $21.82.

Ardent Health Partners Trading Down 1.1 %

The stock’s fifty day moving average price is $18.13. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.91 and a quick ratio of 1.78.

Hedge Funds Weigh In On Ardent Health Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in shares of Ardent Health Partners in the 3rd quarter valued at about $42,000. Financial Management Professionals Inc. purchased a new position in shares of Ardent Health Partners in the 3rd quarter valued at about $50,000. MetLife Investment Management LLC purchased a new position in shares of Ardent Health Partners in the 3rd quarter valued at about $135,000. Quadrature Capital Ltd purchased a new position in shares of Ardent Health Partners in the 3rd quarter valued at about $229,000. Finally, Barclays PLC purchased a new position in shares of Ardent Health Partners in the 3rd quarter valued at about $385,000.

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.