Ardent Health Partners (NYSE:ARDT) Shares Down 5% – Here’s Why

Ardent Health Partners, LLC (NYSE:ARDT) shares fell 5% during trading on Friday . The stock traded as low as $14.40 and last traded at $14.48. 235,774 shares changed hands during trading, a decline of 39% from the average session volume of 387,820 shares. The stock had previously closed at $15.25.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ARDT. Royal Bank of Canada reiterated an “outperform” rating and set a $23.00 price objective on shares of Ardent Health Partners in a report on Thursday, November 14th. Bank of America lowered Ardent Health Partners from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $22.00 to $19.00 in a report on Wednesday, November 6th. Leerink Partners increased their price objective on Ardent Health Partners from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Truist Financial decreased their price objective on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $20.00 price objective on shares of Ardent Health Partners in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Ardent Health Partners has an average rating of “Buy” and an average target price of $21.55.

Ardent Health Partners Stock Performance

The business has a 50-day moving average price of $16.01. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.91 and a quick ratio of 1.78.

Ardent Health Partners (NYSE:ARDT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.10). The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.46 billion. Equities analysts anticipate that Ardent Health Partners, LLC will post 1.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardent Health Partners

Institutional investors have recently modified their holdings of the business. R Squared Ltd acquired a new stake in shares of Ardent Health Partners during the 4th quarter valued at about $37,000. BNP Paribas Financial Markets acquired a new stake in shares of Ardent Health Partners during the 3rd quarter valued at about $42,000. Financial Management Professionals Inc. acquired a new stake in shares of Ardent Health Partners during the 3rd quarter valued at about $50,000. MetLife Investment Management LLC acquired a new stake in shares of Ardent Health Partners during the 3rd quarter valued at about $135,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Ardent Health Partners during the 3rd quarter valued at about $154,000.

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.