Ardent Health (ARDT)
Runs acute-care hospitals and local outpatient sites across mid-sized US markets.
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Runs acute-care hospitals, clinics, urgent care, and other outpatient sites across several US states. Care delivery is organized around regional systems and majority-owned joint ventures with local health partners.
Operates 30 acute-care hospitals alongside physician clinics, urgent care centers, surgery centers, imaging sites, emergency departments, and telehealth access points. Revenue comes from delivering care through local hospital systems and the outpatient settings that feed and support them.
Works through dense regional networks in mid-sized urban markets, with all revenue earned in the United States. Many hospitals sit inside majority-owned joint ventures with academic, nonprofit, physician, and community partners, while day-to-day operations stay under company control.
Performance depends on reimbursement from Medicare, Medicaid, managed care, and self-pay patients, as well as physician recruitment, negotiated rates, and smooth revenue-cycle execution. Lease obligations, joint-venture governance, and concentration in Texas and Oklahoma shape the business.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 6, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $19 | Target: $13 |
| Aug 6, 2026 | Guggenheim | Reiterate | Rating: —Target: — | Target: $14 |
| Mar 9, 2026 | RBC Capital | Target | Target: $16 | Target: $13 |
| Dec 18, 2025 | UBS | Reiterate | Rating: —Target: $17 | Target: $14 |
| Dec 18, 2025 | Mizuho Securities | Target | Target: $13 | Target: $12 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $724.5M · Total debt $2.27B · Total assets $5.28B · Shareholders' equity $1.35B
- Revenue
- $1.62B
- Operating income
- $43.2M
- Net income
- $16.9M
No dividends on record.
| Institutions | ≈ 75.76% | 108.61M shares | |
|---|---|---|---|
| 142 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 1.67% | 2.40M shares | |
| 16 holders · as of Jul 2, 2026 | |||
| Other | ≈ 22.57% | 32.35M shares | |
| remainder | |||
143.35M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Chai Trust Co LLCInstitution | 53.89% | 77.25M | as of Jun 30, 2026 |
Ventas, Inc.Institution | 6.52% | 9.34M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 1.52% | 2.18M | as of Jun 30, 2026 |
Ameriprise Financial IncInstitution | 1.47% | 2.11M | as of Jun 30, 2026 |
Goldentree Asset Management LPInstitution | 1.10% | 1.58M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 5, 2026 | Alfred Lumsdaine | officer: Chief Financial Officer | +10,000 | $8.81 |
| Jun 5, 2026 | Robert DeMichiei | director | +11,260 | $8.73 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ardent Health | $10.98 | +3.49% | $1.52B | 19.3 | 9.8 | 0.2 | −1.4% |
| HCA Healthcare | $442.22 | +3.81% | $92.22B | 14.3 | 14.5 | 1.2 | +8.7% |
| Tenet Healthcare | $264.84 | +1.48% | $21.01B | 10.1 | 12.7 | 1.0 | +6.8% |
| Community Health Systems | $3.03 | +4.67% | $407.5M | — | — | 0.0 | −9.8% |
| Universal Health Services | $180.74 | +3.43% | $10.58B | 7.2 | 7.9 | 0.6 | +8.3% |
| Median | 10.1 | 12.7 | 0.8 | +7.5% |