Ardent Health Partners (NYSE:ARDT) Shares Down 7.7% – Here’s Why

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

Analysts Set New Price Targets

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

Ardent Health Partners Price Performance

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

Institutional Inflows and Outflows

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

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.