Privia Health Group (NASDAQ:PRVA) Hits New 12-Month High – Should You Buy?

Privia Health Group, Inc. (NASDAQ:PRVA)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $26.51 and last traded at $26.02, with a volume of 83139 shares traded. The stock had previously closed at $25.02.

Analyst Ratings Changes

PRVA has been the subject of several recent analyst reports. Barclays raised their target price on Privia Health Group from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 9th. Zacks Research raised Privia Health Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 19th. Citigroup reissued an “outperform” rating on shares of Privia Health Group in a research report on Friday, August 29th. Evercore ISI reduced their price objective on Privia Health Group from $30.00 to $28.00 and set an “outperform” rating for the company in a research report on Wednesday, July 9th. Finally, Piper Sandler cut their target price on Privia Health Group from $36.00 to $35.00 and set an “overweight” rating on the stock in a report on Monday, August 11th. Eleven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.91.

Privia Health Group Stock Performance

The stock’s 50-day moving average is $24.10 and its 200 day moving average is $22.76. The firm has a market cap of $3.18 billion, a P/E ratio of 236.70, a PEG ratio of 3.37 and a beta of 0.83.

Privia Health Group (NASDAQ:PRVA) last released its earnings results on Tuesday, June 7th. The company reported $0.10 earnings per share (EPS) for the quarter. The firm had revenue of $213.61 million during the quarter. Privia Health Group had a return on equity of 2.13% and a net margin of 0.78%. On average, research analysts anticipate that Privia Health Group, Inc. will post 0.14 EPS for the current year.

Institutional Investors Weigh In On Privia Health Group

Several hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC increased its stake in Privia Health Group by 37.4% in the third quarter. Smartleaf Asset Management LLC now owns 12,398 shares of the company’s stock valued at $303,000 after acquiring an additional 3,373 shares during the last quarter. Van Berkom & Associates Inc. raised its holdings in shares of Privia Health Group by 30.1% during the third quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company’s stock valued at $93,987,000 after purchasing an additional 873,344 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Privia Health Group by 8.0% during the third quarter. Thrivent Financial for Lutherans now owns 83,229 shares of the company’s stock valued at $2,072,000 after purchasing an additional 6,130 shares during the period. Arizona State Retirement System increased its position in shares of Privia Health Group by 1.9% during the third quarter. Arizona State Retirement System now owns 28,835 shares of the company’s stock worth $718,000 after acquiring an additional 524 shares in the last quarter. Finally, Summit Global Investments grew its position in Privia Health Group by 273.9% in the 3rd quarter. Summit Global Investments now owns 33,677 shares of the company’s stock worth $839,000 after purchasing an additional 24,670 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

About Privia Health Group

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.