Ardent Health Partners (NYSE:ARDT) Shares Down 7% - Time to Sell?

Shares of Ardent Health Partners, LLC (NYSE:ARDT - Get Free Report) dropped 7% during mid-day trading on Monday . The stock traded as low as $13.77 and last traded at $13.82. Approximately 38,527 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 384,406 shares. The stock had previously closed at $14.86.

Wall Street Analyst Weigh In

ARDT has been the topic of several analyst reports. Mizuho lowered their target price on shares of Ardent Health Partners from $19.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Stephens reissued an "overweight" rating and issued a $21.00 price target on shares of Ardent Health Partners in a report on Tuesday, May 20th. Royal Bank of Canada reiterated an "outperform" rating and issued a $21.00 price objective on shares of Ardent Health Partners in a research report on Thursday, May 15th. Finally, Guggenheim raised their target price on Ardent Health Partners from $16.00 to $18.00 and gave the company a "buy" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $20.67.

Ardent Health Partners Trading Down 6.3%

The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $1.99 billion and a price-to-earnings ratio of 8.56. The business has a 50 day simple moving average of $13.50 and a 200-day simple moving average of $14.57.

Ardent Health Partners (NYSE:ARDT - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. On average, equities analysts predict that Ardent Health Partners, LLC will post 1.23 earnings per share for the current year.

Institutional Investors Weigh In On Ardent Health Partners

Large investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Ardent Health Partners in the 4th quarter valued at $27,000. US Bancorp DE purchased a new stake in Ardent Health Partners during the 4th quarter worth $31,000. Morse Asset Management Inc acquired a new position in Ardent Health Partners in the 1st quarter worth $36,000. New York State Common Retirement Fund purchased a new position in Ardent Health Partners in the 4th quarter valued at about $48,000. Finally, Deutsche Bank AG increased its position in shares of Ardent Health Partners by 1,251.9% during the fourth quarter. Deutsche Bank AG now owns 2,866 shares of the company's stock worth $49,000 after acquiring an additional 2,654 shares during the last quarter.

Ardent Health Partners Company Profile

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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