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

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $21.00 price objective on shares of Ardent Health in a report on Thursday, May 15th. Bank of America cut shares of Ardent Health from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $15.50 to $14.60 in a report on Wednesday. Mizuho dropped their price objective on shares of Ardent Health from $19.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Guggenheim increased their price objective on shares of Ardent Health from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen lowered shares of Ardent Health from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.30.

Ardent Health Stock Down 3.6%

The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.98 and a current ratio of 2.12. The company has a market capitalization of $1.66 billion and a price-to-earnings ratio of 7.10. The stock's fifty day simple moving average is $14.00 and its two-hundred day simple moving average is $14.03.

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

Institutional Trading of Ardent Health

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Ardent Health during the fourth quarter valued at about $27,000. US Bancorp DE purchased a new stake in Ardent Health during the fourth quarter valued at about $31,000. Morse Asset Management Inc purchased a new stake in Ardent Health during the first quarter valued at about $36,000. Deutsche Bank AG lifted its stake in Ardent Health by 1,251.9% during the fourth quarter. Deutsche Bank AG now owns 2,866 shares of the company's stock valued at $49,000 after buying an additional 2,654 shares in the last quarter. Finally, Quarry LP lifted its stake in Ardent Health by 1,519.4% during the first quarter. Quarry LP now owns 5,020 shares of the company's stock valued at $69,000 after buying an additional 4,710 shares in 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.

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