Privia Health Group (NASDAQ:PRVA) Earns Outperform Rating from Analysts at Royal Bank Of Canada

Royal Bank Of Canada started coverage on shares of Privia Health Group (NASDAQ:PRVA) in a research report released on Friday, MarketBeat reports. The firm issued an outperform rating and a $31.00 price objective on the stock.

A number of other brokerages have also recently commented on PRVA. BMO Capital Markets started coverage on Privia Health Group in a research report on Thursday, November 13th. They set an “outperform” rating and a $30.00 price target on the stock. Canaccord Genuity Group upped their price objective on shares of Privia Health Group from $32.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, November 12th. Stephens reiterated an “overweight” rating and set a $32.00 target price on shares of Privia Health Group in a research report on Thursday, December 4th. Truist Financial reissued a “buy” rating and issued a $31.00 price target (up previously from $30.00) on shares of Privia Health Group in a research report on Monday, November 10th. Finally, Citigroup restated a “market outperform” rating on shares of Privia Health Group in a research note on Tuesday, January 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Privia Health Group Stock Down 0.5%

Privia Health Group stock opened at $23.04 on Friday. The firm has a 50 day moving average price of $23.95 and a 200-day moving average price of $22.98. Privia Health Group has a twelve month low of $18.77 and a twelve month high of $26.51. The company has a market capitalization of $2.83 billion, a P/E ratio of 177.24, a P/E/G ratio of 1.62 and a beta of 0.83.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings results on Tuesday, June 7th. The company reported $0.10 EPS for the quarter. Privia Health Group had a net margin of 0.89% and a return on equity of 2.52%. The company had revenue of $213.61 million for the quarter. Equities analysts expect that Privia Health Group will post 0.14 EPS for the current fiscal year.

Insider Activity at Privia Health Group

In related news, CFO David Mountcastle sold 23,887 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $25.03, for a total transaction of $597,891.61. Following the completion of the transaction, the chief financial officer owned 172,909 shares of the company’s stock, valued at approximately $4,327,912.27. The trade was a 12.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Shawn Morris sold 13,647 shares of the stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $25.01, for a total transaction of $341,311.47. Following the completion of the sale, the director owned 68,188 shares in the company, valued at $1,705,381.88. This represents a 16.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Privia Health Group

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC grew its position in Privia Health Group by 89.4% during the second quarter. CWM LLC now owns 3,416 shares of the company’s stock worth $79,000 after buying an additional 1,612 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Privia Health Group by 48.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after acquiring an additional 1,200 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 2,869 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Privia Health Group during the second quarter worth about $113,000. Finally, Covestor Ltd increased its position in shares of Privia Health Group by 39.8% in the third quarter. Covestor Ltd now owns 5,824 shares of the company’s stock worth $145,000 after purchasing an additional 1,657 shares during the last quarter. Hedge funds and other 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.