Privia Health Group, Inc. (NASDAQ:PRVA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have received a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $31.1538.

A number of research analysts have commented on PRVA shares. Canaccord Genuity Group decreased their price target on Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Barclays decreased their price target on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Evercore set a $26.00 price target on Privia Health Group in a research note on Wednesday, April 8th. Piper Sandler restated an “overweight” rating and set a $36.00 price target on shares of Privia Health Group in a research note on Thursday, February 26th. Finally, Truist Financial upped their price target on Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd.

Privia Health Group Stock Down 2.1%

NASDAQ:PRVA opened at $21.74 on Friday. The stock’s fifty day moving average is $22.66 and its two-hundred day moving average is $23.09. Privia Health Group has a 52 week low of $18.77 and a 52 week high of $26.51. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 135.88, a price-to-earnings-growth ratio of 1.79 and a beta of 0.96.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The company had revenue of $603.85 million for the quarter, compared to analysts’ expectations of $560.99 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm’s revenue was up 25.8% compared to the same quarter last year. On average, sell-side analysts expect that Privia Health Group will post 0.32 EPS for the current fiscal year.

Insider Activity

In other news, CEO Parth Mehrotra sold 15,647 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $22.64, for a total value of $354,248.08. Following the sale, the chief executive officer directly owned 434,357 shares in the company, valued at approximately $9,833,842.48. This trade represents a 3.48% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO David Mountcastle sold 3,385 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $22.60, for a total value of $76,501.00. Following the completion of the sale, the chief financial officer owned 211,462 shares in the company, valued at approximately $4,779,041.20. The trade was a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 385,577 shares of company stock worth $8,778,844. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Privia Health Group

Several hedge funds have recently modified their holdings of the stock. Wealth Alliance LLC raised its stake in shares of Privia Health Group by 4.4% in the third quarter. Wealth Alliance LLC now owns 11,979 shares of the company’s stock valued at $298,000 after acquiring an additional 508 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Privia Health Group by 1.9% in the third quarter. Arizona State Retirement System now owns 28,835 shares of the company’s stock valued at $718,000 after acquiring an additional 524 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in shares of Privia Health Group by 1.1% in the third quarter. Illinois Municipal Retirement Fund now owns 55,501 shares of the company’s stock valued at $1,382,000 after acquiring an additional 585 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Privia Health Group by 9.6% in the third quarter. PNC Financial Services Group Inc. now owns 7,731 shares of the company’s stock valued at $193,000 after acquiring an additional 675 shares in the last quarter. Finally, Truist Financial Corp raised its stake in shares of Privia Health Group by 4.6% in the third quarter. Truist Financial Corp now owns 17,634 shares of the company’s stock valued at $439,000 after acquiring an additional 783 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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.