Ardent Health Partners (NYSE:ARDT) Stock Price Down 7.7% – Here’s What Happened

Ardent Health Partners, LLC (NYSE:ARDT) shares were down 7.7% during mid-day trading on Tuesday . The stock traded as low as $14.80 and last traded at $14.82. Approximately 49,762 shares changed hands during trading, a decline of 73% from the average daily volume of 181,088 shares. The stock had previously closed at $16.05.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ARDT shares. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price target on shares of Ardent Health Partners in a research note on Thursday, November 14th. Bank of America cut Ardent Health Partners from a “buy” rating to a “neutral” rating and reduced their price target for the company from $22.00 to $19.00 in a research report on Wednesday, November 6th. Truist Financial decreased their price objective on shares of Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Monday, January 6th. KeyCorp assumed coverage on Ardent Health Partners in a research note on Friday, October 11th. They set an “overweight” rating and a $24.00 target price for the company. Finally, Stephens restated an “overweight” rating and set a $24.00 price target on shares of Ardent Health Partners in a research report on Thursday, September 19th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned 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 an average target price of $22.00.

Ardent Health Partners Trading Down 0.4 %

The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. The firm’s 50-day moving average price is $16.40.

Institutional Trading of Ardent Health Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in ARDT. BNP Paribas Financial Markets acquired a new position in shares of Ardent Health Partners in the 3rd quarter worth approximately $42,000. Financial Management Professionals Inc. purchased a new position in Ardent Health Partners in the third quarter worth approximately $50,000. MetLife Investment Management LLC purchased a new stake in shares of Ardent Health Partners during the 3rd quarter worth $135,000. JPMorgan Chase & Co. purchased a new stake in Ardent Health Partners during the 3rd quarter worth about $154,000. Finally, Quadrature Capital Ltd acquired a new position in Ardent Health Partners in the third quarter valued at approximately $229,000.

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.