Privia Health Group, Inc. (NASDAQ:PRVA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Privia Health Group, Inc. (NASDAQ:PRVA) has received a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $31.00.

A number of equities research analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Barclays reduced their target price on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Citigroup reiterated a “buy” rating on shares of Privia Health Group in a research report on Thursday, July 23rd. Canaccord Genuity Group set a $32.00 price target on shares of Privia Health Group in a research note on Friday, August 7th. Finally, Zacks Research upgraded shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th.

Insider Transactions at Privia Health Group

In related news, Director Matthew Shawn Morris sold 53,722 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $27.24, for a total value of $1,463,387.28. Following the sale, the director directly owned 68,188 shares of the company’s stock, valued at $1,857,441.12. This trade represents a 44.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 21,275 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $27.67, for a total value of $588,679.25. Following the transaction, the chief financial officer owned 164,853 shares in the company, valued at approximately $4,561,482.51. This represents a 11.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 327,886 shares of company stock valued at $8,628,256. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Privia Health Group

A number of large investors have recently made changes to their positions in PRVA. Bayban bought a new position in shares of Privia Health Group during the fourth quarter valued at approximately $26,000. Public Employees Retirement System of Ohio bought a new stake in Privia Health Group in the second quarter valued at $26,000. Hantz Financial Services Inc. boosted its holdings in Privia Health Group by 456.2% in the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after acquiring an additional 926 shares in the last quarter. Global Retirement Partners LLC increased its position in Privia Health Group by 579.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after purchasing an additional 1,351 shares during the period. Finally, Allworth Financial LP purchased a new position in Privia Health Group during the 2nd quarter valued at $48,000. 94.48% of the stock is currently owned by institutional investors.

Privia Health Group Stock Performance

Shares of Privia Health Group stock opened at $20.79 on Monday. The firm has a market capitalization of $2.66 billion, a PE ratio of 99.00, a price-to-earnings-growth ratio of 1.64 and a beta of 0.85. The business’s 50-day moving average price is $24.33 and its 200-day moving average price is $23.19. Privia Health Group has a 12 month low of $19.53 and a 12 month high of $28.82.

Privia Health Group (NASDAQ:PRVA) last released its earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The company had revenue of $632.63 million during the quarter, compared to the consensus estimate of $597.33 million. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.Privia Health Group’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. As a group, analysts predict that Privia Health Group will post 0.27 earnings per share for the current fiscal year.

Privia Health Group Company Profile

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.