Ardent Health (NYSE:ARDT) Trading Down 4.3% – Should You Sell?

Ardent Health, Inc. (NYSE:ARDTGet Free Report) shares were down 4.3% during trading on Friday . The company traded as low as $9.37 and last traded at $9.3410. Approximately 8,782 shares changed hands during trading, a decline of 98% from the average daily volume of 393,903 shares. The stock had previously closed at $9.76.

Trending Headlines about Ardent Health

Here are the key news stories impacting Ardent Health this week:

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ARDT. Bank of America decreased their price objective on Ardent Health from $12.00 to $10.00 and set an “underperform” rating for the company in a research note on Thursday, November 13th. Guggenheim decreased their target price on Ardent Health from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, November 18th. Leerink Partners set a $16.00 price target on Ardent Health in a research note on Friday, November 14th. Weiss Ratings reissued a “sell (d)” rating on shares of Ardent Health in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Ardent Health from $12.00 to $11.00 and set a “neutral” rating for the company in a report on Tuesday, January 20th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.58.

Read Our Latest Research Report on ARDT

Ardent Health Price Performance

The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 6.49, a P/E/G ratio of 5.66 and a beta of 0.72. The company has a 50 day simple moving average of $8.88 and a 200-day simple moving average of $11.18. The company has a current ratio of 2.08, a quick ratio of 1.95 and a debt-to-equity ratio of 0.67.

Hedge Funds Weigh In On Ardent Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. increased its position in Ardent Health by 24.4% during the 4th quarter. Invesco Ltd. now owns 71,304 shares of the company’s stock worth $630,000 after buying an additional 13,964 shares during the period. Empowered Funds LLC increased its stake in shares of Ardent Health by 135.0% in the fourth quarter. Empowered Funds LLC now owns 551,738 shares of the company’s stock valued at $4,872,000 after buying an additional 316,961 shares during the period. VARCOV Co. acquired a new position in shares of Ardent Health in the fourth quarter worth approximately $232,000. Susquehanna Portfolio Strategies LLC boosted its position in Ardent Health by 101.8% during the fourth quarter. Susquehanna Portfolio Strategies LLC now owns 62,957 shares of the company’s stock valued at $556,000 after acquiring an additional 31,758 shares during the last quarter. Finally, Numerai GP LLC acquired a new stake in shares of Ardent Health during the 4th quarter worth approximately $616,000.

Ardent Health Company Profile

(Get Free Report)

Ardent Health, listed on the New York Stock Exchange under the ticker ARDT, is a healthcare delivery company focused on acquiring, developing and managing acute care hospitals and complementary outpatient facilities across the United States. The company’s integrated platform encompasses both inpatient and outpatient services, designed to provide end-to-end care solutions and address the full continuum of patient needs.

Through its network, Ardent Health operates general hospitals, emergency departments, ambulatory surgery centers, urgent care clinics, rehabilitation and post-acute care facilities.

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