Privia Health Group (NASDAQ:PRVA) Raised to “Moderate Buy” at Royal Bank Of Canada

Privia Health Group (NASDAQ:PRVA) was upgraded by Royal Bank Of Canada to a “moderate buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

PRVA has been the subject of several other research reports. Wolfe Research set a $31.00 target price on Privia Health Group in a research report on Tuesday. Citizens Jmp boosted their price objective on Privia Health Group from $30.00 to $31.00 and gave the company a “market outperform” rating in a report on Friday, November 7th. Canaccord Genuity Group increased their target price on Privia Health Group from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. BMO Capital Markets assumed coverage on Privia Health Group in a research report on Thursday, November 13th. They set an “outperform” rating and a $30.00 target price for the company. Finally, Evercore ISI upped their price target on shares of Privia Health Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Privia Health Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Privia Health Group Stock Down 0.5%

PRVA stock opened at $23.04 on Thursday. Privia Health Group has a twelve month low of $18.77 and a twelve month high of $26.51. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 177.24, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The firm’s fifty day simple moving average is $23.95 and its two-hundred day simple moving average is $22.96.

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 net margin of 0.89% and a return on equity of 2.52%. As a group, equities research analysts expect that Privia Health Group will post 0.14 EPS for the current year.

Insider Buying and Selling at Privia Health Group

In other news, CFO David Mountcastle sold 23,887 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $25.03, for a total transaction of $597,891.61. Following the transaction, the chief financial officer owned 172,909 shares of the company’s stock, valued at approximately $4,327,912.27. This represents a 12.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Shawn Morris sold 13,647 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $25.01, for a total value of $341,311.47. Following the transaction, the director owned 68,188 shares in the company, valued at approximately $1,705,381.88. This represents a 16.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Privia Health Group

Several large investors have recently modified their holdings of PRVA. CWM LLC lifted its position in shares of Privia Health Group by 89.4% in the 2nd quarter. CWM LLC now owns 3,416 shares of the company’s stock worth $79,000 after purchasing an additional 1,612 shares during the period. Canada Pension Plan Investment Board raised its stake in Privia Health Group by 48.0% in the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after buying an additional 1,200 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Privia Health Group by 198.5% during the fourth quarter. GAMMA Investing LLC now owns 4,314 shares of the company’s stock worth $102,000 after buying an additional 2,869 shares during the period. Raymond James Financial Inc. bought a new stake in Privia Health Group during the 2nd quarter valued at $113,000. Finally, Covestor Ltd increased its holdings in shares of Privia Health Group by 39.8% in the 3rd quarter. Covestor Ltd now owns 5,824 shares of the company’s stock valued at $145,000 after acquiring an additional 1,657 shares during the period. Institutional investors own 94.48% of the company’s stock.

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.