P3 Health Partners surges 228% after Q1 turnaround and higher 2026 EBITDA outlook

P3 Health Partners (PIII) is up 228.3% today. Here is some analysis on what might have caused this price movement.

Analysis: The move appears tied to a sharp Q1 operating turnaround that included positive adjusted EBITDA, a swing to net income, and raised full-year 2026 adjusted EBITDA guidance. After a period of weak sentiment and a small-float profile, the better-than-expected quarter likely triggered aggressive repricing and momentum buying.

Details:

P3 reported Q1 2026 revenue of $386 million (+4% year over year) and said per-member revenue rose 14%, helped by contract restructuring and rate progression.

The company posted net income of $3.0 million versus a $44.2 million net loss in the prior-year quarter, alongside adjusted EBITDA of $25.8 million.

P3 raised its full-year 2026 adjusted EBITDA outlook to a $20 million–$60 million range (midpoint $40 million) and provided revenue guidance of $1.50 billion–$1.65 billion.

Management noted at-risk membership of about 106,000, down 10% year over year, reflecting intentional network and payer rationalization; Q1 results included prior-year development and payer settlements recognized in the quarter.

Sources:

P3 Health Partners Investor Relations, Business Wire, MarketBeat

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$PIII Hedge Fund Activity

We have seen 9 institutional investors add shares of $PIII stock to their portfolio, and 9 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

ALYESKA INVESTMENT GROUP, L.P. removed 43,500 shares (-24.0%) from their portfolio in Q4 2025, for an estimated $151,815
DIVERSIFIED TRUST CO added 20,316 shares (+inf%) to their portfolio in Q1 2026, for an estimated $62,573
NINE MASTS CAPITAL LTD added 17,964 shares (+inf%) to their portfolio in Q1 2026, for an estimated $55,329
HRT FINANCIAL LP added 15,092 shares (+inf%) to their portfolio in Q1 2026, for an estimated $46,483
CORIENT PRIVATE WEALTH LLC removed 14,532 shares (-41.1%) from their portfolio in Q4 2025, for an estimated $50,716
SUSQUEHANNA INTERNATIONAL GROUP, LLP added 13,371 shares (+inf%) to their portfolio in Q1 2026, for an estimated $41,182
LIDO ADVISORS, LLC added 10,748 shares (+inf%) to their portfolio in Q1 2026, for an estimated $33,103

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$PIII Analyst Ratings

Wall Street analysts have issued reports on $PIII in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Lake Street issued a "Buy" rating on 11/17/2025

To track analyst ratings and price targets for $PIII, check out Quiver Quantitative's $PIII forecast page.

$PIII Price Targets

Multiple analysts have issued price targets for $PIII recently. We have seen 2 analysts offer price targets for $PIII in the last 6 months, with a median target of $3.5.

Here are some recent targets:

Ryan Langston from TD Cowen set a target price of $3.0 on 04/02/2026
Ben Haynor from Lake Street set a target price of $4.0 on 03/27/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.