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Insufficient data to determine institutional momentum.
Data as of Q3 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 23 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| VCYT | $4.2B | 63.6× | 48.4× | 8.1× | 16.0% | 70.1% | 12.8% | 5.1% | 5.1% | -4.6× | 60 |
| NHC | $3.3B | 27.7× | 18.9× | 2.2× | 16.1% | — | 7.9% | 11.2% | 10.8% | -0.3× | 58 |
| SGRY | $3.0B | — | 11.7× | 0.9× | 6.2% | — | -2.4% | -4.5% | -1.4% | 6.4× | 26 |
| AVAH | $2.9B | 12.6× | 15.0× | 1.2× | 20.2% | 33.3% | 9.2% | 116% | 15.1% | 4.2× | 34 |
| PRVA | $2.8B | 122.2× | 52.8× | 1.3× | 22.3% | — | 1.1% | 3.1% | 3.1% | -10.9× | 58 |
| BKD | $2.5B | — | 16.9× | 0.8× | 2.2% | 26.2% | -8.2% | 587% | -6.2% | 10.5× | 32 |
| MD | $2.4B | 15.0× | 8.7× | 1.2× | -4.9% | — | 8.6% | 19.1% | 19.1% | -1.6× | 55 |
| ADUS | $2.3B | 23.8× | 15.2× | 1.6× | 23.2% | 32.5% | 6.7% | 8.8% | 8.0% | 0.3× | 63 |
| PGNY | $2.2B | 43.7× | 22.9× | 1.7× | 10.4% | 23.6% | 4.5% | 11.3% | 11.3% | -1.2× | 55 |
| WGS | $2.1B | — | — | 5.0× | 40.0% | 69.7% | -4.9% | -6.8% | -5.8% | — | 32 |
| ARDT | $1.7B | 12.8× | — | 0.3× | 6.0% | — | 2.1% | 10.5% | 5.7% | — | 20 |
| PSNL | $1.7B | — | — | 24.4× | -17.7% | 22.7% | -117% | -31.1% | -31.1% | — | 20 |
| HCSG | $1.7B | 30.5× | 17.9× | 0.9× | 7.1% | 13.0% | 3.2% | 11.6% | 11.6% | -1.4× | 46 |
| PNTG | $1.5B | 50.6× | 27.1× | 1.6× | 36.3% | — | 3.1% | 7.9% | 5.4% | 2.6× | 39 |
| USPH | $1.3B | 61.0× | 13.0× | 1.6× | 16.3% | 19.2% | 5.1% | 8.3% | 6.2% | 1.2× | 50 |
| INNV | $1.3B | — | 51.0× | 1.3× | 15.9% | 23.0% | -0.3% | -1.1% | -0.9% | -2.1× | 17 |
| OMDA | $1.2B | — | — | 4.6× | 53.2% | 65.7% | -4.9% | -5.6% | -5.6% | — | 29 |
| CSTL | $1.2B | — | — | 3.4× | 3.7% | 79.4% | -7.0% | -5.1% | -5.0% | — | 30 |
| TALK | $874M | 130.5× | 138.9× | 3.8× | 729% | — | 3.4% | 6.7% | 6.7% | -6.2× | 1 |
| AHCO | $791M | — | 5.3× | 0.2× | -0.5% | 18.8% | -2.2% | -4.7% | -2.2% | 3.7× | 43 |
| FLGT | $597M | — | — | 1.9× | 13.8% | 40.6% | -18.8% | -5.4% | -5.4% | — | 22 |
| SBC | $585M | 11.4× | 6.6× | 3.4× | -15.5% | 73.3% | 29.4% | 20.5% | 17.5% | -1.7× | 10 |
| SRTA | $420M | 9.5× | — | 2.1× | 34.3% | 20.9% | 21.0% | 14.8% | 14.8% | — | 25 |
| VMD | $379M | 26.9× | 7.3× | 1.4× | 20.5% | 57.5% | 5.5% | 10.6% | 9.7% | -0.0× | 30 |
Peers = companies sharing ARDT's sector (Services-General Medical & Surgical Hospitals, NEC) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $258.6M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 4 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 6%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 4 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $12.30 today, the market must believe free cash flow compounds 2.4%/yr for a decade (off $156.8M on the 3-yr avg basis).
The market's 2.4% is more conservative than its 2-yr track record.
Default is 10.0% — this company's computed cost of capital (published default — this company's cost of capital could not be computed), the same rate the Analysis tab discounts at.
2-stage DCF · 0.14B shares (market data) · net debt $389.6M
mean 77.0% · volatility σ 36% · implied rate exceeded in 2/2 yrs
Central path = implied 2.4%/yr growth; shaded band = ±1σ (36%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $709.6M covers the $23.4M due within a year 30.3× over. Scheduled principal only (excludes interest & revolver draws). As of 2025-12-31 (10-K).
Insufficient EBITDA/debt history.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
Cash of $709.6M fully covers short-term debt of $23.4M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Top 23 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
EOD close · as of 2026-10-29
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | $6.32B 100.0% | $5.97B 100.0% | $5.41B 100.0% | $5.13B 100.0% |
| Selling, General & Admin | $140.8M 2.2% | $132.4M 2.2% | $114.6M 2.1% | $75.3M 1.5% |
| Total Operating Expenses | $6.04B 95.5% | $5.60B 93.9% | $5.26B 97.2% | $4.82B 93.9% |
| Pretax Income | $286.4M 4.5% | $363.1M 6.1% | $151.6M 2.8% | $311.5M 6.1% |
| Income Tax Expense | $56.2M 0.9% | $63.4M 1.1% | $22.6M 0.4% | $46.1M 0.9% |
| Net Income | $135.8M 2.1% | $210.3M 3.5% | $53.9M 1.0% | $188.9M 3.7% |
| Per Share | ||||
| EPS (Basic) | $0.96 | $1.59 | $0.43 | $1.50 |
| EPS (Diluted) | $0.96 | $1.58 | $0.43 | $1.50 |
| Weighted Avg Shares (Basic) | 140.8M | 132.4M | 126.1M | 126.1M |
| Weighted Avg Shares (Diluted) | 141.5M | 132.7M | 126.1M | 126.1M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-29
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 11% against ROIC 6% — 5% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| SG&A | 1.5 | 2.1 | 2.2 | 2.2 |
| Income Tax | 0.9 | 0.4 | 1.1 | 0.9 |
| Net Income | 3.7 | 1.0 | 3.5 | 2.1 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ARDT: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2022 | not reported | not reported | 3.7% |
| FY2023 | not reported | not reported | 1.0% |
| FY2024 | not reported | not reported | 3.5% |
| FY2025 | not reported | not reported | 2.1% |
Leverage and buybacks account for 5 points of the 11% return on equity in FY2025. The business earns 6% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: positive EBIT.
Converts 0.77x of reported profit into cash — adequate, without much margin.
Shares outstanding are up 13% since FY2022 — per-share cash flow has grown more slowly than the totals above, and the gap is the owners'.
Missing from our data, so excluded from this answer: share_based_compensation.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
Ladder as of 2025-12-31 (10-K); cash from the 2025-12-31 balance sheet; FCF from FY2025.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: ebitda, interest_expense.
At $12.30, free cash flow must compound 8.68%/yr for 10 years. It has no positive compounding record to compare against.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2024 | 51.3% | 8.7% |
| FY2025 | 102.8% | 8.7% |
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
| Step | Amount | Running total |
|---|---|---|
| Net income | $136M | $136M |
| Share-based comp | not reported | not reported |
| Other non-cash & working capital | $335M | $471M |
| Operating cash flow | $471M | $471M |
| Capex | −$212M | $259M |
| Free cash flow | $259M | $259M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2023 | 5.5% | not reported | not reported |
| FY2024 | 10.3% | -4.2% | -14.5 points |
| FY2025 | 6.0% | -7.7% | -13.7 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2022 | not reported | not reported | not reported | not reported |
| FY2023 | 52.3 days | not reported | not reported | not reported |
| FY2024 | 45.5 days | not reported | not reported | not reported |
| FY2025 | 39.6 days | not reported | not reported | not reported |
| Fiscal year | Accruals / assets |
|---|---|
| FY2022 | not reported |
| FY2023 | -3.5 percent |
| FY2024 | -2.1 percent |
| FY2025 | -6.3 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-09-25 | Lumsdaine Alfred Chief Financial Officer | Tax withholding | 3,389 | $10.54 | $36k |
| 2026-09-25 | Petrovich Stephen C. EVP, GC and Secretary | Tax withholding | 788 | $10.54 | $8k |
| 2026-09-25 | Byers David Raynor SVP & Chief Accounting Officer | Tax withholding | 524 | $10.54 | $6k |
| 2026-07-01 | Caspers Dave CEO and President | Grant | 103,653 | $0.00 | $0 |
| 2026-06-05 |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
Demichiei Robert Director |
| Open-market buy |
| 11,260 |
| $8.73 |
| $98k |
| 2026-06-05 | Lumsdaine Alfred Chief Financial Officer | Open-market buy | 10,000 | $8.81 | $88k |
| 2026-04-01 | Bulgarelli Peter J. Director | Grant | 14,231 | $0.00 | $0 |
| 2026-04-01 | Havdala Ellen Director | Grant | 14,231 | $0.00 | $0 |
| 2026-04-01 | Sotir Mark R Director | Grant | 14,231 | $0.00 | $0 |
| 2026-04-01 | Sen Rahul Director | Grant | 14,231 | $0.00 | $0 |
| 2026-04-01 | Webb Robert Thomas Director | Grant | 14,231 | $0.00 | $0 |
| 2026-04-01 | Robinson Edmondo Director | Grant | 14,231 | $0.00 | $0 |
| 2026-04-01 | Demichiei Robert Director | Grant | 14,231 | $0.00 | $0 |
| 2026-04-01 | Goodyear William M Director | Grant | 14,231 | $0.00 | $0 |
| 2026-04-01 | Campion Suzanne Director | Grant | 14,231 | $0.00 | $0 |
| 2026-04-01 | Bynoe Peter C B Director | Grant | 14,231 | $0.00 | $0 |
| 2026-04-01 | 2 co-filers Chief Operating Officer | Tax withholding | 2,684 | $8.67 | $23k |
| 2026-04-01 | 2 co-filers Chief Operating Officer | Grant | 35,673 | $0.00 | $0 |
| 2026-04-01 | 3 co-filers EVP, GC and Secretary | Tax withholding | 1,808 | $8.67 | $16k |
| 2026-04-01 | 3 co-filers SVP & Chief Accounting Officer | Tax withholding | 924 | $8.67 | $8k |
| 2026-04-01 | 3 co-filers Chief Financial Officer | Tax withholding | 4,381 | $8.67 | $38k |
| 2026-04-01 | 3 co-filers President and CEO | Tax withholding | 10,952 | $8.67 | $95k |
| 2026-04-01 | 3 co-filers Chief Financial Officer | Grant | 53,846 | $0.00 | $0 |
| 2026-04-01 | 3 co-filers SVP & Chief Accounting Officer | Grant | 11,538 | $0.00 | $0 |
| 2026-04-01 | 3 co-filers EVP, GC and Secretary | Grant | 24,904 | $0.00 | $0 |
| 2026-04-01 | 3 co-filers President and CEO | Grant | 134,615 | $0.00 | $0 |
| 2026-03-31 | 3 co-filers Chief Financial Officer | Tax withholding | 2,510 | $8.56 | $21k |
| 2026-03-31 | 3 co-filers EVP, GC and Secretary | Tax withholding | 1,425 | $8.56 | $12k |
| 2026-03-31 | 3 co-filers SVP & Chief Accounting Officer | Tax withholding | 819 | $8.56 | $7k |
| 2026-03-31 | 3 co-filers President and CEO | Tax withholding | 8,026 | $8.56 | $69k |
| 2026-03-11 | Petrovich Stephen C. EVP, GC and Secretary | Grant | 34,733 | $0.00 | $0 |
| 2026-03-11 | Lumsdaine Alfred Chief Financial Officer | Grant | 61,081 | $0.00 | $0 |
| 2026-03-11 | Bonick Martin President and CEO | Grant | 195,316 | $0.00 | $0 |
| 2026-03-11 | Chernin Ethan President of Health Services | Grant | 32,408 | $0.00 | $0 |
| 2026-03-11 | Byers David Raynor SVP & Chief Accounting Officer | Grant | 8,859 | $0.00 | $0 |