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

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have received a consensus rating of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $27.62.

Several equities analysts have recently issued reports on PRVA shares. Evercore ISI dropped their price target on shares of Privia Health Group from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, February 28th. JPMorgan Chase & Co. lowered their target price on shares of Privia Health Group from $38.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, March 6th. Citigroup initiated coverage on shares of Privia Health Group in a research note on Monday, April 22nd. They set a “buy” rating and a $25.00 target price for the company. TD Cowen lowered their target price on shares of Privia Health Group from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Finally, Bank of America downgraded shares of Privia Health Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $27.00 to $21.00 in a research note on Thursday, February 22nd.

Privia Health Group Stock Performance

PRVA stock opened at $18.41 on Friday. The company has a fifty day moving average price of $19.67 and a 200-day moving average price of $21.16. The company has a market capitalization of $2.18 billion, a P/E ratio of 96.90, a PEG ratio of 2.51 and a beta of 0.81. Privia Health Group has a 52-week low of $17.54 and a 52-week high of $30.15.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $440.80 million for the quarter, compared to the consensus estimate of $425.81 million. Privia Health Group had a net margin of 1.39% and a return on equity of 3.97%. Privia Health Group’s revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.14 EPS. As a group, sell-side analysts forecast that Privia Health Group will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Privia Health Group news, EVP Thomas Bartrum sold 2,252 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $18.42, for a total value of $41,481.84. Following the completion of the sale, the executive vice president now directly owns 103,862 shares in the company, valued at $1,913,138.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO David Mountcastle sold 2,320 shares of Privia Health Group stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $18.42, for a total transaction of $42,734.40. Following the completion of the transaction, the chief financial officer now directly owns 259,959 shares in the company, valued at $4,788,444.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas Bartrum sold 2,252 shares of Privia Health Group stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $18.42, for a total transaction of $41,481.84. Following the transaction, the executive vice president now owns 103,862 shares of the company’s stock, valued at $1,913,138.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,783 shares of company stock worth $582,886. 14.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PRVA. Norges Bank acquired a new position in shares of Privia Health Group during the fourth quarter valued at about $27,959,000. Riverbridge Partners LLC grew its holdings in shares of Privia Health Group by 17.5% during the first quarter. Riverbridge Partners LLC now owns 5,399,662 shares of the company’s stock valued at $105,779,000 after buying an additional 804,304 shares during the last quarter. Avidity Partners Management LP grew its holdings in shares of Privia Health Group by 43.1% during the third quarter. Avidity Partners Management LP now owns 1,545,100 shares of the company’s stock valued at $35,537,000 after buying an additional 465,294 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Privia Health Group by 28.7% during the third quarter. Northern Trust Corp now owns 1,344,327 shares of the company’s stock valued at $30,920,000 after buying an additional 299,395 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Privia Health Group by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 11,278,334 shares of the company’s stock valued at $259,740,000 after buying an additional 274,345 shares during 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, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.