Research firm BTIG has reiterated its neutral rating on shares of P3 Health Partners (NASDAQ: PIII), according to a note issued to investors on November 17, 2023. The company, which operates in the healthcare sector, has recently attracted attention from several analysts, reflecting a mixed outlook on its stock performance.
Analyst activity surrounding P3 Health Partners has varied significantly. On the same day as BTIG’s announcement, Lake Street Capital revised its price target for the company’s shares, lowering it from $20.00 to $12.50, while maintaining a “buy” rating. Meanwhile, on October 8, 2023, Weiss Ratings reaffirmed a “sell (e+)” rating for the stock. As a result, the consensus among analysts currently includes one Buy rating, one Hold rating, and one Sell rating. Data from MarketBeat.com indicates that the average rating for P3 Health Partners is “Hold,” with an average target price also set at $12.50.
Quarterly Earnings Reveal Financial Challenges
In its most recent earnings announcement on November 13, P3 Health Partners reported a loss of $9.67 per share, which fell short of the consensus estimate of $8.70 by $0.97. The company also reported a negative net margin of 9.07% and an alarming return on equity of -302.33%. Revenue for the quarter reached $345.25 million, slightly below the analyst estimates of $346.64 million. Analysts predict that the company will post an earnings per share (EPS) of -0.67 for the current fiscal year, indicating ongoing financial struggles.
Institutional Interest in P3 Health Partners Stock
Institutional investment in P3 Health Partners has seen some activity recently. During the third quarter, Trinity Financial Advisors LLC increased its stake in the company by 4.6%, according to a filing with the Securities and Exchange Commission (SEC). After acquiring an additional 1,178 shares, Trinity now holds 26,678 shares, representing approximately 0.37% of the company, valued at around $239,000. Overall, institutional investors own about 7.75% of P3 Health Partners stock.
Founded in 2020 and headquartered in Henderson, Nevada, P3 Health Partners is focused on patient-centered and physician-led population health management. The company operates various clinics and wellness centers across the United States, aiming to improve healthcare outcomes for its patients.
As the company navigates these financial challenges and evolving market perceptions, investors and analysts will be closely monitoring future developments.
