Privia Health Group (NASDAQ:PRVA) Posts Earnings Results, Beats Expectations By $0.23 EPS

Privia Health Group (NASDAQ:PRVA) posted its earnings results on Thursday. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.23, Briefing.com reports. The business had revenue of $580.42 million during the quarter, compared to the consensus estimate of $494.98 million. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%.The business’s quarterly revenue was up 32.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 EPS. Privia Health Group updated its FY 2025 guidance to EPS.

Privia Health Group Price Performance

PRVA traded down $0.55 during trading hours on Friday, hitting $23.43. 1,382,680 shares of the stock were exchanged, compared to its average volume of 791,019. Privia Health Group has a 12 month low of $18.77 and a 12 month high of $26.51. The stock has a 50-day simple moving average of $24.15 and a 200-day simple moving average of $22.77. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 180.24, a price-to-earnings-growth ratio of 3.27 and a beta of 0.83.

Hedge Funds Weigh In On Privia Health Group

Several institutional investors have recently made changes to their positions in PRVA. Qube Research & Technologies Ltd increased its position in Privia Health Group by 93.3% during the second quarter. Qube Research & Technologies Ltd now owns 609,278 shares of the company’s stock worth $14,013,000 after acquiring an additional 294,101 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Privia Health Group during the second quarter valued at approximately $6,219,000. First Trust Advisors LP grew its position in Privia Health Group by 482.7% in the second quarter. First Trust Advisors LP now owns 279,005 shares of the company’s stock valued at $6,417,000 after acquiring an additional 231,125 shares during the period. PDT Partners LLC grew its holdings in shares of Privia Health Group by 152.8% in the 2nd quarter. PDT Partners LLC now owns 218,679 shares of the company’s stock worth $5,030,000 after purchasing an additional 132,180 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Privia Health Group by 63.5% during the first quarter. Royal Bank of Canada now owns 245,633 shares of the company’s stock worth $5,514,000 after buying an additional 95,371 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PRVA shares. Citizens Jmp upped their target price on shares of Privia Health Group from $30.00 to $31.00 and gave the company a “market outperform” rating in a report on Friday. Stephens reaffirmed an “overweight” rating and set a $32.00 price target on shares of Privia Health Group in a report on Wednesday, September 24th. Zacks Research upgraded Privia Health Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Privia Health Group in a research report on Wednesday, October 8th. Finally, Barclays lifted their price objective on Privia Health Group from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, October 9th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.25.

Privia Health Group Company Profile

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.