Ardent Health (NYSE:ARDT) Shares Gap Down - Should You Sell?

Ardent Health, Inc. (NYSE:ARDT - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $13.92, but opened at $13.25. Ardent Health shares last traded at $12.54, with a volume of 154,700 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ARDT. Mizuho cut their target price on shares of Ardent Health from $19.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Stephens reaffirmed an "overweight" rating and set a $21.00 price objective on shares of Ardent Health in a research note on Tuesday, May 20th. Guggenheim lifted their price objective on shares of Ardent Health from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $21.00 price objective on shares of Ardent Health in a research note on Thursday, May 15th. Finally, Wall Street Zen lowered shares of Ardent Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.30.

Ardent Health Price Performance

The company has a debt-to-equity ratio of 0.70, a current ratio of 2.12 and a quick ratio of 1.98. The firm has a fifty day moving average of $13.88 and a two-hundred day moving average of $13.93. The stock has a market capitalization of $1.59 billion and a P/E ratio of 6.84.

Ardent Health (NYSE:ARDT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.08. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. Ardent Health had a net margin of 3.73% and a return on equity of 16.07%. On average, analysts predict that Ardent Health, Inc. will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Ardent Health

Hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC increased its holdings in shares of Ardent Health by 220.6% during the fourth quarter. Nuveen Asset Management LLC now owns 169,475 shares of the company's stock valued at $2,895,000 after acquiring an additional 116,610 shares in the last quarter. Ventas Inc. acquired a new position in shares of Ardent Health during the fourth quarter valued at about $159,570,000. Barclays PLC boosted its position in Ardent Health by 24.7% in the fourth quarter. Barclays PLC now owns 26,177 shares of the company's stock valued at $447,000 after buying an additional 5,185 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Ardent Health in the fourth quarter valued at approximately $481,000. Finally, Rhumbline Advisers boosted its position in Ardent Health by 46.8% in the first quarter. Rhumbline Advisers now owns 24,827 shares of the company's stock valued at $341,000 after buying an additional 7,914 shares during the last quarter.

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.