Privia Health Group (NASDAQ:PRVA) Hits New 1-Year High – What’s Next?

Privia Health Group, Inc. (NASDAQ:PRVA) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $26.71 and last traded at $26.6360, with a volume of 188886 shares. The stock had previously closed at $25.73.

Analyst Ratings Changes

Several equities research analysts have issued reports on PRVA shares. Canaccord Genuity Group cut their price objective on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, May 8th. Evercore set a $26.00 price target on shares of Privia Health Group in a research report on Wednesday, April 8th. Citigroup reduced their price objective on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings cut Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Finally, Barclays dropped their price objective on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.15.

Privia Health Group Stock Up 5.3%

The business’s 50 day simple moving average is $23.25 and its two-hundred day simple moving average is $22.96. The stock has a market cap of $3.41 billion, a P/E ratio of 168.62, a PEG ratio of 2.02 and a beta of 0.90.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.11. The company had revenue of $603.85 million during the quarter, compared to analysts’ expectations of $560.99 million. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.Privia Health Group’s revenue was up 25.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.22 EPS. As a group, research analysts forecast that Privia Health Group, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at Privia Health Group

In other news, CFO David Mountcastle sold 17,196 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $25.18, for a total value of $432,995.28. Following the completion of the transaction, the chief financial officer owned 211,462 shares of the company’s stock, valued at $5,324,613.16. This represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Parth Mehrotra sold 15,647 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $22.64, for a total transaction of $354,248.08. Following the completion of the transaction, the chief executive officer owned 434,357 shares of the company’s stock, valued at approximately $9,833,842.48. This trade represents a 3.48% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last three months, insiders have sold 325,053 shares of company stock worth $7,852,885. Insiders own 5.70% of the company’s stock.

Institutional Trading of Privia Health Group

Institutional investors have recently modified their holdings of the business. Bayban acquired a new position in Privia Health Group during the 4th quarter worth about $26,000. Hantz Financial Services Inc. raised its position in shares of Privia Health Group by 456.2% during the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock worth $27,000 after acquiring an additional 926 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Privia Health Group by 579.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock worth $38,000 after acquiring an additional 1,351 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of 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 acquiring an additional 1,200 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in Privia Health Group in the fourth quarter valued at approximately $93,000. Institutional investors own 94.48% of the company’s stock.

About Privia Health Group

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.