Ardent Health Partners (NYSE:ARDT) Shares Down 4.1% – Time to Sell?

Ardent Health Partners, LLC (NYSE:ARDT)’s stock price dropped 4.1% on Tuesday . The company traded as low as $16.31 and last traded at $16.31. Approximately 6,433 shares changed hands during trading, a decline of 98% from the average daily volume of 366,550 shares. The stock had previously closed at $17.00.

Wall Street Analysts Forecast Growth

ARDT has been the subject of a number of recent research reports. Stephens reaffirmed an “overweight” rating and set a $24.00 price objective on shares of Ardent Health Partners in a research report on Thursday, September 19th. Bank of America downgraded Ardent Health Partners from a “buy” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $19.00 in a report on Wednesday, November 6th. Leerink Partnrs raised Ardent Health Partners to a “strong-buy” rating in a research report on Monday, August 12th. Morgan Stanley initiated coverage on shares of Ardent Health Partners in a report on Monday, August 12th. They set an “overweight” rating and a $27.00 price target for the company. Finally, Citigroup assumed coverage on shares of Ardent Health Partners in a research note on Monday, August 12th. They set a “buy” rating and a $21.00 target price for the company. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $21.82.

Ardent Health Partners Price Performance

The firm’s 50-day moving average is $18.18. The company has a current ratio of 1.91, a quick ratio of 1.78 and a debt-to-equity ratio of 0.78.

Hedge Funds Weigh In On Ardent Health Partners

Several large investors have recently made changes to their positions in ARDT. BNP Paribas Financial Markets acquired a new stake in shares of Ardent Health Partners in the third quarter valued at approximately $42,000. Financial Management Professionals Inc. acquired a new stake in Ardent Health Partners in the 3rd quarter valued at $50,000. MetLife Investment Management LLC purchased a new stake in Ardent Health Partners in the 3rd quarter valued at about $135,000. Quadrature Capital Ltd bought a new position in Ardent Health Partners during the third quarter valued at $229,000. Finally, Barclays PLC purchased a new position in Ardent Health Partners during the 3rd quarter valued at about $385,000.

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.