US population health manager's Q2 revenue rose 9% yr/yr to $386 mln
Adjusted EBITDA swung to $54 mln profit from a loss a year ago
Structural improvements - Co said improved profitability was driven by structural changes in contracts, network, and operating model
Network economics - Per-member capitated revenue increased 15% yr/yr, driven by improved network economics, rate progression, and burden of illness performance
Favorable settlements - Medical margin benefited from payer settlements and prior year development recognized in the quarter
Key reported figures and analyst coverage
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$386 mln
$377.95 mln (2 Analysts)
Q2 Net Income
$15.70 mln
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the biotechnology & medical research peer group is "buy"
Wall Street's median 12-month price target for P3 Health Partners Inc is $14.00, about 20.9% above its August 7 closing price of $11.58
PIII•
