Accounting Adjustments Impact: Ardent Health's disclosure of $97 million in accounting adjustments in Q3 2025 led to a stock price drop of over 33%, indicating a severe deterioration in the company's financial health that could undermine investor confidence.
Revenue Reduction Issues: The $43 million revenue reduction raises questions about the effectiveness of internal controls, with the investigation focusing on whether management was aware of and failed to disclose these issues, potentially leading to investor losses.
Liability Reserves Increase: The company also reported a $54 million increase in liability reserves, prompting scrutiny into whether these reserves were timely and compliant with GAAP and SEC guidelines, which could affect future financial reporting and compliance.
Adjusted EBITDA Guidance Cut: The undisclosed accounting issues have resulted in a significant cut to the 2025 adjusted EBITDA guidance, which not only impacts the company's financial outlook but may also erode investor confidence in the company's future performance.
ARDT
$8.9+Infinity%1D
Analyst Views on ARDT
Wall Street analysts forecast ARDT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ARDT is 13.96 USD with a low forecast of 10.00 USD and a high forecast of 17.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
13 Analyst Rating
Wall Street analysts forecast ARDT stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ARDT is 13.96 USD with a low forecast of 10.00 USD and a high forecast of 17.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
8 Buy
4 Hold
1 Sell
Moderate Buy
Current: 8.790
Low
10.00
Averages
13.96
High
17.00
Current: 8.790
Low
10.00
Averages
13.96
High
17.00
JPMorgan
Neutral
downgrade
$15 -> $12
2025-11-24
Reason
JPMorgan
Price Target
$15 -> $12
2025-11-24
downgrade
Neutral
Reason
JPMorgan lowered the firm's price target on Ardent Health to $12 from $15 and keeps a Neutral rating on the shares. The firm updated the company's model post the Q3 report.
Mizuho
Outperform
to
NULL
downgrade
$20 -> $13
2025-11-18
Reason
Mizuho
Price Target
$20 -> $13
2025-11-18
downgrade
Outperform
to
NULL
Reason
Mizuho lowered the firm's price target on Ardent Health to $13 from $20 and keeps an Outperform rating on the shares. The company reported a disappointing quarter on elevated professional fees and payer denials, but "there is a path to mitigating these costs over time," the analyst tells investors in a research note. The firm believes Ardent's demand trends appear strong and support sales growth in the near- to medium-term.
Guggenheim
Buy
downgrade
$18 -> $15
2025-11-18
Reason
Guggenheim
Price Target
$18 -> $15
2025-11-18
downgrade
Buy
Reason
Guggenheim lowered the firm's price target on Ardent Health to $15 from $18 and keeps a Buy rating on the shares. Management will have to execute on core stability and ultimately more normalized growth considerations now that the DPP-related EBITDA pops are behind them, the analyst tells investors in a post-earnings note.
UBS
AJ Rice
Buy
downgrade
$17
2025-11-17
Reason
UBS
AJ Rice
Price Target
$17
2025-11-17
downgrade
Buy
Reason
UBS analyst AJ Rice lowered the firm's price target on Ardent Health to $14.50 from $17 and keeps a Buy rating on the shares.
About ARDT
Ardent Health, Inc., formerly Ardent Health Partners, Inc., is a provider of healthcare in mid-sized urban communities across the United States. Through its subsidiaries, the Company delivers care through a system of 30 acute care hospitals and approximately 280 sites of care with over 1,800 affiliated providers across six states. It provides both general and specialty services, including internal medicine, general surgery, cardiology, oncology, orthopedics, women’s services, neurology, urology, and emergency services, within inpatient and ambulatory care settings. In addition to its 30 acute care hospitals, it operates a network of ambulatory facilities and telehealth services, including primary care and specialty care clinics, ambulatory surgery centers (ASCs), urgent care centers, free-standing emergency departments, and diagnostic imaging centers. It operates a consumer-centric healthcare platform focused on creating relationships with its patients across multiple care settings.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
