Ardent Health Partners (NYSE:ARDT) Shares Gap Down – What’s Next?

Ardent Health Partners, LLC (NYSE:ARDT)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $13.75, but opened at $13.36. Ardent Health Partners shares last traded at $12.76, with a volume of 178,293 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ARDT. JPMorgan Chase & Co. restated a “neutral” rating and set a $20.00 target price on shares of Ardent Health Partners in a research report on Tuesday, December 17th. Stephens reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of Ardent Health Partners in a research note on Tuesday. Truist Financial cut their target price on Ardent Health Partners from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Royal Bank of Canada decreased their price target on Ardent Health Partners from $23.00 to $21.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Finally, Morgan Stanley dropped their price objective on shares of Ardent Health Partners from $23.50 to $22.00 and set an “overweight” rating for the company in a research note on Tuesday, January 21st. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $21.18.

Ardent Health Partners Trading Down 4.6 %

The stock’s fifty day moving average price is $14.40 and its 200 day moving average price is $16.19. The company has a quick ratio of 1.78, a current ratio of 1.91 and a debt-to-equity ratio of 0.78.

Ardent Health Partners (NYSE:ARDT) last issued its earnings results on Wednesday, February 26th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.31. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities research analysts anticipate that Ardent Health Partners, LLC will post 1.23 earnings per share for the current year.

Institutional Investors Weigh In On Ardent Health Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. purchased a new position in shares of Ardent Health Partners during the third quarter valued at $526,000. BNP Paribas Financial Markets bought a new position in Ardent Health Partners during the 3rd quarter worth about $42,000. MetLife Investment Management LLC purchased a new position in Ardent Health Partners during the 3rd quarter valued at about $135,000. Centiva Capital LP bought a new stake in shares of Ardent Health Partners in the 3rd quarter valued at about $469,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Ardent Health Partners in the 3rd quarter valued at about $27,428,000.

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.