Ardent Health Partners (NYSE:ARDT) Hits New 1-Year Low – Time to Sell?

Shares of Ardent Health Partners, LLC (NYSE:ARDT) hit a new 52-week low on Wednesday . The stock traded as low as $14.00 and last traded at $14.05, with a volume of 656358 shares changing hands. The stock had previously closed at $16.05.

Analyst Ratings Changes

A number of brokerages recently issued reports on ARDT. Leerink Partners upped their price objective on shares of Ardent Health Partners from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $20.00 price target on shares of Ardent Health Partners in a research note on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and set a $23.00 price target on shares of Ardent Health Partners in a report on Thursday, November 14th. Stephens reiterated an “overweight” rating and issued a $24.00 price objective on shares of Ardent Health Partners in a research report on Thursday, September 19th. Finally, Truist Financial cut their target price on 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. Two 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 stock. According to MarketBeat, Ardent Health Partners currently has an average rating of “Buy” and a consensus price target 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 business’s fifty day moving average is $16.33.

Institutional Investors Weigh In On Ardent Health Partners

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in Ardent Health Partners in the 3rd quarter valued at about $28,724,000. Point72 Asset Management L.P. purchased a new position in shares of Ardent Health Partners in the third quarter valued at approximately $27,428,000. Goldentree Asset Management LP acquired a new position in shares of Ardent Health Partners in the third quarter valued at approximately $22,897,000. Franklin Resources Inc. purchased a new stake in Ardent Health Partners during the 3rd quarter worth approximately $15,839,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Ardent Health Partners during the 3rd quarter worth approximately $13,119,000.

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.