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

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have been given an average rating of “Moderate Buy” by the fourteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $31.2308.

A number of analysts have commented on PRVA shares. Citigroup decreased their price objective on Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Evercore set a $26.00 price objective on Privia Health Group in a report on Wednesday, April 8th. Weiss Ratings lowered Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Barclays boosted their price objective on Privia Health Group from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 25th. Finally, Truist Financial boosted their price objective on Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, March 2nd.

Privia Health Group Stock Performance

Shares of PRVA opened at $22.79 on Friday. The stock has a 50 day moving average price of $22.63 and a two-hundred day moving average price of $23.15. The firm has a market capitalization of $2.87 billion, a P/E ratio of 142.45, a P/E/G ratio of 1.82 and a beta of 0.96. Privia Health Group has a 52 week low of $18.77 and a 52 week high of $26.51.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.11. The firm had revenue of $603.85 million during the quarter, compared to analyst estimates of $560.99 million. Privia Health Group had a return on equity of 2.81% and a net margin of 0.97%.The company’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 EPS. On average, equities analysts forecast that Privia Health Group will post 0.32 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Matthew Shawn Morris sold 1,017 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $24.96, for a total value of $25,384.32. Following the completion of the transaction, the director directly owned 68,188 shares of the company’s stock, valued at $1,701,972.48. This represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 3,385 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 211,462 shares of the company’s stock, valued at approximately $4,779,041.20. This represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 398,726 shares of company stock valued at $9,107,491. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

Several institutional investors have recently modified their holdings of PRVA. Van Berkom & Associates Inc. grew its holdings in shares of Privia Health Group by 30.1% in the third quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company’s stock valued at $93,987,000 after acquiring an additional 873,344 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Privia Health Group by 5.3% in the third quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock valued at $301,263,000 after acquiring an additional 607,447 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in shares of Privia Health Group by 139.4% in the fourth quarter. ArrowMark Colorado Holdings LLC now owns 841,266 shares of the company’s stock valued at $19,946,000 after acquiring an additional 489,866 shares in the last quarter. Algert Global LLC grew its holdings in shares of Privia Health Group by 277.4% in the third quarter. Algert Global LLC now owns 484,304 shares of the company’s stock valued at $12,059,000 after acquiring an additional 355,966 shares in the last quarter. Finally, Freestone Grove Partners LP grew its holdings in shares of Privia Health Group by 40.6% in the fourth quarter. Freestone Grove Partners LP now owns 1,213,342 shares of the company’s stock valued at $28,768,000 after acquiring an additional 350,194 shares in the last quarter. 94.48% of the stock is owned by institutional investors.

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.