Ardent Health Partners (NYSE:ARDT) Sets New 52-Week Low on Analyst Downgrade

Ardent Health Partners, LLC (NYSE:ARDT) hit a new 52-week low during 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. The stock had previously closed at $14.10.

ARDT has been the subject of several other research reports. KeyCorp initiated coverage on shares of 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. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Ardent Health Partners in a research report on Thursday, November 14th. Leerink Partners boosted their price target 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $20.00 price objective on shares of Ardent Health Partners in a report on Tuesday, December 17th. Finally, Truist Financial dropped 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 report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $21.55.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Seven Grand Managers LLC purchased a new stake in shares of Ardent Health Partners in the 3rd quarter valued at approximately $2,298,000. Allspring Global Investments Holdings LLC acquired a new stake in Ardent Health Partners in the 3rd quarter valued at approximately $13,119,000. Financial Management Professionals Inc. purchased a new stake in Ardent Health Partners in the third quarter valued at approximately $50,000. Charles Schwab Investment Management Inc. acquired a new position in Ardent Health Partners during the third quarter worth $526,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Ardent Health Partners during the third quarter worth $42,000.

Ardent Health Partners Stock Up 2.0 %

The firm’s 50 day simple moving average 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 results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate 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. Sell-side analysts predict that Ardent Health Partners, LLC will post 1.22 EPS for the current fiscal year.

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.