Privia Health Group, Inc. (NASDAQ:PRVA) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have earned an average recommendation of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $31.1333.

Several analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and set a $32.00 price target on shares of Privia Health Group in a research note on Thursday, February 26th. Canaccord Genuity Group raised their price objective on Privia Health Group from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Wolfe Research set a $31.00 target price on Privia Health Group in a report on Tuesday, January 6th. Barclays upped their target price on Privia Health Group from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 25th. Finally, Stephens reissued an “overweight” rating and set a $32.00 price target on shares of Privia Health Group in a research report on Thursday, December 4th.

Privia Health Group Trading Up 0.7%

NASDAQ:PRVA opened at $21.21 on Friday. The company has a market capitalization of $2.62 billion, a P/E ratio of 124.76, a PEG ratio of 1.31 and a beta of 0.87. Privia Health Group has a 12 month low of $18.77 and a 12 month high of $26.51. The firm has a fifty day simple moving average of $22.20 and a 200-day simple moving average of $23.42.

Privia Health Group (NASDAQ:PRVA) last released its earnings results on Thursday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.21. The firm had revenue of $541.17 million for the quarter, compared to the consensus estimate of $516.61 million. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. Equities analysts forecast that Privia Health Group will post 0.14 EPS for the current year.

Insider Transactions at Privia Health Group

In related news, CFO David Mountcastle sold 6,391 shares of the firm’s stock in a transaction on Monday, March 16th. The shares were sold at an average price of $22.11, for a total transaction of $141,305.01. Following the completion of the transaction, the chief financial officer owned 220,413 shares of the company’s stock, valued at $4,873,331.43. This trade represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Edward C. Fargis sold 4,949 shares of the business’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $22.84, for a total transaction of $113,035.16. Following the transaction, the executive vice president owned 83,711 shares of the company’s stock, valued at $1,911,959.24. This represents a 5.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 242,191 shares of company stock worth $5,520,587 over the last 90 days. 10.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Privia Health Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Alliance LLC boosted 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 worth $298,000 after buying an additional 508 shares during the last quarter. Arizona State Retirement System lifted its holdings in 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 during the period. Illinois Municipal Retirement Fund lifted its holdings in 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 during the period. PNC Financial Services Group Inc. boosted its position in Privia Health Group by 9.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 7,731 shares of the company’s stock worth $193,000 after purchasing an additional 675 shares in the last quarter. Finally, Truist Financial Corp boosted its position in Privia Health Group by 4.6% in the 3rd quarter. Truist Financial Corp now owns 17,634 shares of the company’s stock worth $439,000 after purchasing an additional 783 shares in the last quarter. Institutional investors and hedge funds 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.