Privia Health Group, Inc. (NASDAQ:PRVA) Receives Average Rating of “Buy” from Analysts

Privia Health Group, Inc. (NASDAQ:PRVA – Get Rating) has been given a consensus rating of “Buy” by the sixteen analysts that are currently covering the company, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $39.19.

A number of equities research analysts have recently commented on PRVA shares. SVB Securities raised their price objective on shares of Privia Health Group from $39.00 to $40.00 in a research note on Friday, May 5th. Stephens initiated coverage on shares of Privia Health Group in a research note on Tuesday, April 11th. They set an “overweight” rating and a $33.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Privia Health Group in a research report on Friday, February 3rd. They set a “buy” rating and a $32.00 target price on the stock. Royal Bank of Canada initiated coverage on Privia Health Group in a research report on Thursday, March 9th. They set an “outperform” rating and a $36.00 target price on the stock. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $41.00 target price on shares of Privia Health Group in a research report on Tuesday, March 7th.

Insiders Place Their Bets

In other Privia Health Group news, COO Parth Mehrotra sold 53,560 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $28.13, for a total value of $1,506,642.80. Following the completion of the sale, the chief operating officer now directly owns 97,391 shares of the company’s stock, valued at approximately $2,739,608.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director William M. Sullivan sold 18,153 shares of the firm’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $28.57, for a total transaction of $518,631.21. Following the completion of the sale, the director now directly owns 5,754,318 shares of the company’s stock, valued at approximately $164,400,865.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Parth Mehrotra sold 53,560 shares of the firm’s stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $28.13, for a total value of $1,506,642.80. Following the sale, the chief operating officer now directly owns 97,391 shares of the company’s stock, valued at $2,739,608.83. The disclosure for this sale can be found here. Insiders sold 25,371,773 shares of company stock valued at $551,840,171 in the last three months. 57.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Privia Health Group

Several hedge funds and other institutional investors have recently made changes to their positions in PRVA. ProShare Advisors LLC purchased a new stake in Privia Health Group in the first quarter valued at approximately $210,000. JPMorgan Chase & Co. increased its holdings in shares of Privia Health Group by 60.3% in the first quarter. JPMorgan Chase & Co. now owns 33,839 shares of the company’s stock valued at $905,000 after purchasing an additional 12,732 shares during the period. US Bancorp DE grew its holdings in Privia Health Group by 8.8% during the first quarter. US Bancorp DE now owns 13,923 shares of the company’s stock worth $372,000 after acquiring an additional 1,131 shares during the period. MetLife Investment Management LLC raised its position in Privia Health Group by 200.9% in the first quarter. MetLife Investment Management LLC now owns 23,742 shares of the company’s stock worth $635,000 after acquiring an additional 15,852 shares in the last quarter. Finally, Rhumbline Advisers raised its position in Privia Health Group by 124.7% in the first quarter. Rhumbline Advisers now owns 36,873 shares of the company’s stock worth $986,000 after acquiring an additional 20,464 shares in the last quarter. Hedge funds and other institutional investors own 66.83% of the company’s stock.

Privia Health Group Trading Down 3.4 %

Shares of NASDAQ:PRVA opened at $24.44 on Friday. Privia Health Group has a twelve month low of $20.64 and a twelve month high of $44.64. The company’s 50 day moving average is $26.88 and its 200 day moving average is $25.85. The company has a market cap of $2.83 billion, a PE ratio of 222.18, a price-to-earnings-growth ratio of 3.17 and a beta of 0.77.

Privia Health Group (NASDAQ:PRVA – Get Rating) last issued its quarterly earnings results on Tuesday, February 28th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.17. The company had revenue of $364.42 million for the quarter, compared to the consensus estimate of $337.16 million. Privia Health Group had a net margin of 1.14% and a return on equity of 3.20%. Equities research analysts predict that Privia Health Group will post 0.23 earnings per share for the current fiscal year.

Privia Health Group Company Profile

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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.