Ardent Health Partners: BofA Conference Takes: growth strategy taking hold

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Ardent Health Partners: BofA Conference Takes: growth strategy taking hold

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Ardent Health Partners

BofA Conference Takes: growth strategy

taking hold

Reiterate Rating: UNDERPERFORM | PO: 10.00 USD | Price: 9.89 USD

Positive tone as addressing 2025 pressures 13 May 2026

At the BofA Healthcare Conference, we hosted a discussion with the leadership team Equity

from Ardent (ARDT), including Marty Bonick, CEO, Alfred Lumsdaine, CFO and Dave

Kevin Fischbeck, CFA

Styblo, Senior VP & IR. The tone of the presentation was positive as the company has Research Analyst

seen a stabilization in the main pressure points from 2025 (denials and professional BofAS +1 646 855 5948

fees) but only reaffirmed guidance given it is early in the year. We reiterate kevin.fischbeck@bofa.com

Underperform on reimbursement pressures. Joanna Gajuk

Research Analyst

3 pronged growth strategy BofAS+1 646 855 3961

ARDT reiterated its three pronged growth strategy: 1) Improving margins at the core – joanna.gajuk@bofa.com

getting margins back to the mid-teens (excluding the rate pressures from OBBB and Joaquin Arriagada Martinez Research Analyst

ACA cuts), 2) Grow within regions (8 markets). ARDT is usually #1 or 2 in those markets BofAS

but still sees an opportunity to gain share, particularly on the outpatient side. 3) +1joaquin.arriagadamartinez@bofa.com646 855 1654

Opportunistic growth – adding hospitals in existing markets or entering new markets. Katie FitzGerald

Denials and professional fee pressures stabilizing BofAS+1 646 556 2930

ARDT has seen payer denials start to stabilize in Q4 with continued stabilization into Q1. katie.fitzgerald@bofa.com

The company has responded to these pressures with improved focus on revenue cycle

management (RCM) and contract terms with MCOs.