Ardent Health Partners (NYSE:ARDT) Reaches New 12-Month Low Following Analyst Downgrade

Shares of Ardent Health Partners, LLC (NYSE:ARDT) hit a new 52-week low during mid-day trading on Tuesday after Morgan Stanley lowered their price target on the stock from $23.50 to $22.00. Morgan Stanley currently has an overweight rating on the stock. Ardent Health Partners traded as low as $13.63 and last traded at $13.88, with a volume of 68275 shares trading hands. The stock had previously closed at $14.10.

ARDT has been the topic of several other research reports. Truist Financial cut their price objective on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Bank of America cut shares of Ardent Health Partners from a “buy” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $19.00 in a report on Wednesday, November 6th. KeyCorp initiated coverage on shares of Ardent Health Partners in a report on Friday, October 11th. They set an “overweight” rating and a $24.00 price objective for the company. Leerink Partners upped their target price on shares of Ardent Health Partners from $23.00 to $25.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $23.00 target price on shares of Ardent Health Partners in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $21.55.

Institutional Trading of Ardent Health Partners

Large investors have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Ardent Health Partners during the 4th quarter valued at approximately $37,000. Oliver Luxxe Assets LLC purchased a new position in shares of Ardent Health Partners during the fourth quarter worth $1,465,000. JPMorgan Chase & Co. acquired a new position in Ardent Health Partners during the third quarter valued at $154,000. Franklin Resources Inc. purchased a new stake in Ardent Health Partners in the third quarter valued at $15,839,000. Finally, Barclays PLC acquired a new stake in Ardent Health Partners during the 3rd quarter worth about $385,000.

Ardent Health Partners Stock Performance

The firm’s 50 day moving average price is $16.11. 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 issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.46 billion. As a group, equities research analysts expect that Ardent Health Partners, LLC will post 1.22 earnings per share for the current fiscal year.

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.