Ardent Health, Inc.
boothcheck covers Ardent Health, Inc. (ARDT) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed July 25, 2026.
• Commercial and other managed-care plans are the largest revenue line at 44% of the total, ahead of Medicare at 39% and Medicaid at 10%, which is the payer mix a hospital operator wants and not the one most people assume it has. • The competitive threat is structural rather than commercial: the FY2025 10-K notes that rival hospitals owned by governments or not-for-profits ⟦"can finance capital expenditures and operations on a tax-exempt basis"⟧, a cost-of-capital advantage no operating improvem
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127 institutional managers reported holding ARDT in 13F filings for the quarter ended 2026-03-31. Together they hold about 75% of the company; the top 10 hold 69%. 25 opened new positions that quarter. Held by BlackRock, Vanguard Group, AQR Capital, among others. On the short side, 3.6M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (4.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
Open-market insider buys at ARDT over the trailing three years: 2024: 2 buys totaling $340k; 2026: 2 buys totaling $186k. 16 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ARDT's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2024-11-08 | -2.8% | -3.4% |
| 2025-02-28 | +4.8% | -10.1% |
| 2025-05-08 | +7.8% | -2.0% |
| 2025-08-07 | +9.8% | +25.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ARDT's latest 8-K filings: 2026-09-04 (items 8.01, 9.01); 2026-08-04 (items 2.02, 9.01); 2026-06-30 (items 5.02, 9.01); 2026-06-02 (items 5.02, 7.01, 9.01); 2026-05-26 (items 5.07).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.