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

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have received an average rating of “Moderate Buy” from the fourteen analysts that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among analysts that have covered the stock in the last year is $31.00.

A number of brokerages have issued reports on PRVA. Canaccord Genuity Group set a $32.00 target price on Privia Health Group in a research report on Friday, August 7th. Zacks Research raised shares of Privia Health Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of Privia Health Group in a research note on Tuesday. Finally, Citigroup reaffirmed a “buy” rating on shares of Privia Health Group in a report on Thursday, July 23rd.

Insider Transactions at Privia Health Group

In other news, CFO David Mountcastle sold 21,275 shares of Privia Health Group stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $27.67, for a total value of $588,679.25. Following the transaction, the chief financial officer directly owned 164,853 shares in the company, valued at approximately $4,561,482.51. The trade was a 11.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Morris sold 53,722 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $27.24, for a total value of $1,463,387.28. Following the transaction, the director directly owned 68,188 shares of the company’s stock, valued at $1,857,441.12. This represents a 44.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 75,597 shares of company stock valued at $2,068,609 over the last 90 days. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Privia Health Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Privia Health Group during the second quarter worth approximately $550,684,000. Rubicon Founders LLC acquired a new stake in shares of Privia Health Group during the 2nd quarter worth approximately $153,635,863. Van Berkom & Associates Inc. increased its position in shares of Privia Health Group by 5.4% during the first quarter. Van Berkom & Associates Inc. now owns 4,053,043 shares of the company’s stock valued at $83,371,000 after purchasing an additional 208,787 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Privia Health Group during the second quarter valued at approximately $74,425,000. Finally, Geode Capital Management LLC lifted its position in Privia Health Group by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 2,814,290 shares of the company’s stock worth $66,738,000 after purchasing an additional 31,204 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.

Privia Health Group Trading Up 1.7%

Privia Health Group stock opened at $20.03 on Friday. The company has a market capitalization of $2.56 billion, a P/E ratio of 95.39 and a beta of 0.80. The firm’s fifty day simple moving average is $21.36 and its 200-day simple moving average is $22.78. Privia Health Group has a 1-year low of $18.92 and a 1-year high of $28.82.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The firm had revenue of $632.63 million during the quarter, compared to analysts’ expectations of $597.33 million. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. Privia Health Group’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. On average, equities research analysts predict that Privia Health Group will post 0.27 earnings per share for the current year.

Privia Health Group Company Profile

Privia Health Group, Inc is a physician-enablement company that supports independent medical practices through technology, administrative services and value-based care programs. The company partners with physicians and medical groups to help them manage clinical operations, improve patient outcomes and participate in alternative payment arrangements with health insurers and employers.

Its platform includes practice management and electronic health record tools, data analytics, population health management, care coordination, revenue cycle support, payer contracting and centralized administrative services.