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

Privia Health Group, Inc. (NASDAQ:PRVA) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $31.1538.

PRVA has been the subject of several research analyst reports. Weiss Ratings lowered shares of Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Barclays lowered their price objective on shares of Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. Citigroup lowered their price objective on shares of Privia Health Group from $34.00 to $32.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Piper Sandler reiterated an “overweight” rating and set a $36.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $32.00 target price on shares of Privia Health Group in a report on Thursday, February 26th.

Insider Activity

In other news, CEO Parth Mehrotra sold 105,439 shares of Privia Health Group stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $22.55, for a total transaction of $2,377,649.45. Following the completion of the transaction, the chief executive officer directly owned 450,004 shares in the company, valued at approximately $10,147,590.20. This trade represents a 18.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 7,179 shares of Privia Health Group stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $25.03, for a total transaction of $179,690.37. Following the transaction, the chief financial officer owned 214,847 shares of the company’s stock, valued at $5,377,620.41. The trade was a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 156,535 shares of company stock worth $3,586,903. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

Several large investors have recently made changes to their positions in PRVA. Bayban purchased a new position in shares of Privia Health Group during the fourth quarter valued at approximately $26,000. Hantz Financial Services Inc. lifted its holdings 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 valued at $27,000 after purchasing an additional 926 shares during the last quarter. Global Retirement Partners LLC lifted its holdings 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 valued at $38,000 after purchasing an additional 1,351 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Privia Health Group by 48.0% during the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Kestra Advisory Services LLC purchased a new position in shares of Privia Health Group during the fourth quarter valued at approximately $93,000. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Price Performance

Shares of PRVA opened at $23.53 on Wednesday. Privia Health Group has a one year low of $18.77 and a one year high of $26.51. The company has a 50-day simple moving average of $22.95 and a two-hundred day simple moving average of $22.94. The firm has a market capitalization of $2.97 billion, a PE ratio of 147.07, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90.

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 the consensus estimate of $0.08 by $0.11. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The business had revenue of $603.85 million during the quarter, compared to analyst estimates of $560.99 million. During the same period last year, the business posted $0.22 earnings per share. Privia Health Group’s quarterly revenue was up 25.8% compared to the same quarter last year. Analysts expect that Privia Health Group will post 0.29 EPS for the current fiscal year.

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.