Privia Health Group, Inc. (NASDAQ:PRVA) Receives $31.00 Consensus Target Price from Analysts

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

PRVA has been the topic of several research analyst reports. Citigroup reiterated a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $32.00 target price on Privia Health Group in a research report on Friday, August 7th. Barclays lowered their target price on Privia Health Group from $25.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings raised Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Finally, Zacks Research upgraded Privia Health Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 5th.

Insider Activity

In related news, Director Matthew Morris sold 53,722 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $27.24, for a total transaction of $1,463,387.28. Following the sale, the director directly owned 68,188 shares in the company, valued at approximately $1,857,441.12. This represents a 44.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 21,275 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $27.67, for a total transaction of $588,679.25. Following the completion of the transaction, the chief financial officer directly owned 164,853 shares of the company’s stock, valued at approximately $4,561,482.51. This trade represents a 11.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 327,886 shares of company stock worth $8,628,256. Insiders own 5.70% of the company’s stock.

Institutional Investors Weigh In On Privia Health Group

Several institutional investors have recently made changes to their positions in PRVA. Public Employees Retirement System of Ohio purchased a new position in shares of Privia Health Group in the second quarter valued at $26,000. Bayban purchased a new stake in Privia Health Group during the 4th quarter worth about $26,000. Hantz Financial Services Inc. lifted its holdings in Privia Health Group by 456.2% during the 4th quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock worth $27,000 after purchasing an additional 926 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Privia Health Group by 579.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock worth $38,000 after purchasing an additional 1,351 shares during the period. Finally, Allworth Financial LP bought a new position in Privia Health Group in the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Privia Health Group Stock Performance

NASDAQ PRVA opened at $20.66 on Monday. The company has a market capitalization of $2.64 billion, a PE ratio of 98.39 and a beta of 0.87. Privia Health Group has a 52-week low of $19.53 and a 52-week high of $28.82. The company has a 50-day simple moving average of $23.96 and a 200 day simple moving average of $23.15.

Privia Health Group (NASDAQ:PRVA) last released its earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. The firm had revenue of $632.63 million for the quarter, compared to analysts’ expectations of $597.33 million. During the same period in the previous year, the company earned $0.24 earnings per share. The company’s quarterly revenue was up 21.4% on a year-over-year basis. As a group, analysts forecast that Privia Health Group will post 0.27 EPS for the current fiscal year.

About Privia Health Group

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.