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

Key Points

• Ardent Health's stock hit a new 52-week low, trading down to $10.46 and closing at $10.66, amidst a volume of 168,630 shares.
• Several brokerages have adjusted their ratings and price targets for Ardent Health, with some downgrading from "strong-buy" to "buy" and others maintaining higher price targets around $21.00.
• Ardent Health reported earnings of $0.29 per share for the last quarter, outperforming the consensus estimate, and has a market capitalization of $1.51 billion with a P/E ratio of 6.49.

Ardent Health, Inc. (NYSE:ARDT - Get Free Report)'s share price reached a new 52-week low on Thursday . The stock traded as low as $10.46 and last traded at $10.66, with a volume of 168630 shares. The stock had previously closed at $10.68.

Analyst Ratings Changes

Several research analysts have recently weighed in on ARDT shares. Stephens restated an "overweight" rating and set a $21.00 price objective on shares of Ardent Health in a research note on Tuesday, May 20th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $21.00 price target on shares of Ardent Health in a research note on Thursday, May 15th. Bank of America lowered shares of Ardent Health from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $15.50 to $14.60 in a research note on Wednesday, July 16th. Mizuho decreased their price target on shares of Ardent Health from $19.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Guggenheim upped their price target on shares of Ardent Health from $16.00 to $18.00 and gave the company a "buy" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Ardent Health currently has an average rating of "Moderate Buy" and a consensus target price of $20.30.

Ardent Health Price Performance

The company's 50 day moving average price is $13.04 and its 200-day moving average price is $13.58. The stock has a market cap of $1.46 billion and a P/E ratio of 6.26. The company has a quick ratio of 1.98, a current ratio of 2.12 and a debt-to-equity ratio of 0.70.

Ardent Health (NYSE:ARDT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.08. The company had revenue of $1.50 billion during the quarter, compared to analysts' expectations of $1.50 billion. Ardent Health had a net margin of 3.73% and a return on equity of 16.07%. As a group, sell-side analysts expect that Ardent Health, Inc. will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in Ardent Health in the fourth quarter worth about $27,000. CWM LLC raised its position in shares of Ardent Health by 990.6% in the second quarter. CWM LLC now owns 2,203 shares of the company's stock valued at $30,000 after purchasing an additional 2,001 shares during the period. Morse Asset Management Inc bought a new stake in shares of Ardent Health in the first quarter valued at approximately $36,000. Deutsche Bank AG raised its position in shares of Ardent Health by 1,251.9% in the fourth quarter. Deutsche Bank AG now owns 2,866 shares of the company's stock valued at $49,000 after purchasing an additional 2,654 shares during the period. Finally, Quarry LP raised its position in shares of Ardent Health by 1,519.4% in the first quarter. Quarry LP now owns 5,020 shares of the company's stock valued at $69,000 after purchasing an additional 4,710 shares during the period.

About Ardent Health

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.