P3 Health Partners (NASDAQ: PIII) received a neutral rating from BTIG Research, reflecting a cautious outlook amid varying assessments from other analysts. This rating comes as the company posted disappointing earnings results for the quarter ending November 13, 2023, leading to concerns about its financial performance.
On October 8, 2023, Weiss Ratings reaffirmed a “sell (e+)” rating on P3 Health Partners, indicating skepticism about the company’s future prospects. In contrast, Lake Street Capital adjusted its price target for the stock from $20.00 to $12.50 while maintaining a “buy” recommendation. Currently, one analyst has assigned a Buy rating, another a Hold rating, and a third a Sell rating, resulting in a consensus rating of “Hold” and a price target of $12.50, according to data from MarketBeat.
During the latest earnings call, P3 Health Partners reported an earnings per share (EPS) of ($9.67), falling short of analysts’ expectations of ($8.70) by a significant margin of ($0.97). The company generated revenue of $345.25 million for the quarter, slightly below expectations of $346.64 million. The reported financial metrics included a troubling negative return on equity of 302.33% and a net margin of negative 9.07%. Analysts predict that P3 Health Partners will report an EPS of -0.67 for the current fiscal year.
Institutional Investors Take Interest
Interest from institutional investors has also been noteworthy. Cresset Asset Management LLC recently increased its stake in P3 Health Partners by 33.3% during the first quarter, as revealed in its latest 13F filing with the Securities and Exchange Commission. The firm now holds 200,000 shares after acquiring an additional 50,000 shares, representing approximately 2.78% of the company’s stock, valued at $33,000 at the end of the reporting period. Overall, institutional investors own about 7.75% of P3 Health Partners.
P3 Health Partners, founded in 2020 and based in Henderson, Nevada, focuses on patient-centered and physician-led population health management. The company operates clinics and wellness centers across the United States, aiming to provide superior care services to its clients.
As P3 Health Partners navigates through mixed ratings and financial challenges, its future performance will continue to be closely monitored by analysts and investors alike.
