Ardent Health (NYSE:ARDT) Stock Price Down 4.2% - What's Next?

Shares of Ardent Health, Inc. (NYSE:ARDT - Get Free Report) dropped 4.2% during trading on Thursday . The company traded as low as $11.43 and last traded at $11.51. Approximately 125,735 shares changed hands during trading, a decline of 67% from the average daily volume of 383,207 shares. The stock had previously closed at $12.01.

Wall Street Analyst Weigh In

ARDT has been the subject of a number of research analyst reports. Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price target on shares of Ardent Health in a research note on Thursday, May 15th. Stephens reissued an "overweight" rating and issued a $21.00 price objective on shares of Ardent Health in a research report on Tuesday, May 20th. Wall Street Zen cut shares of Ardent Health from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Guggenheim lifted their price objective on Ardent Health from $16.00 to $18.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Bank of America downgraded Ardent Health from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $15.50 to $14.60 in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.30.

Ardent Health Stock Performance

The business has a fifty day simple moving average of $13.88 and a 200-day simple moving average of $13.91. The firm has a market cap of $1.56 billion and a P/E ratio of 6.70. 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 EPS for the quarter, topping the consensus estimate of $0.21 by $0.08. Ardent Health had a return on equity of 16.07% and a net margin of 3.73%. The firm had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. On average, sell-side analysts predict that Ardent Health, Inc. will post 1.23 EPS for the current fiscal year.

Institutional Trading of Ardent Health

A number of hedge funds have recently added to or reduced their stakes in ARDT. Oliver Luxxe Assets LLC boosted its position in Ardent Health by 1.5% in the second quarter. Oliver Luxxe Assets LLC now owns 87,639 shares of the company's stock valued at $1,197,000 after buying an additional 1,319 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in Ardent Health during the second quarter worth about $1,383,000. Voya Investment Management LLC raised its position in Ardent Health by 77.9% during the first quarter. Voya Investment Management LLC now owns 26,468 shares of the company's stock valued at $364,000 after acquiring an additional 11,594 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Ardent Health by 46.8% during the 1st quarter. Rhumbline Advisers now owns 24,827 shares of the company's stock worth $341,000 after purchasing an additional 7,914 shares during the period. Finally, Strs Ohio acquired a new stake in shares of Ardent Health during the 1st quarter worth approximately $494,000.

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.