Privia Health Group (NASDAQ:PRVA) Earns Buy Rating from Analysts at Bank of America

Bank of America assumed coverage on shares of Privia Health Group (NASDAQ:PRVAGet Rating) in a report released on Tuesday, The Fly reports. The brokerage set a “buy” rating on the stock.

Several other research analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Privia Health Group from a “sell” rating to a “hold” rating in a research note on Friday, March 25th. Guggenheim assumed coverage on shares of Privia Health Group in a research note on Tuesday, March 29th. They issued a “buy” rating and a $35.00 target price for the company. Jefferies Financial Group assumed coverage on shares of Privia Health Group in a research note on Monday, January 3rd. They issued a “buy” rating and a $33.00 target price for the company. SVB Leerink boosted their target price on shares of Privia Health Group from $43.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, March 25th. Finally, BTIG Research started coverage on shares of Privia Health Group in a research note on Thursday, April 28th. They set a “buy” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Privia Health Group currently has a consensus rating of “Buy” and a consensus target price of $41.18.

Privia Health Group stock opened at $23.00 on Tuesday. Privia Health Group has a 52 week low of $18.93 and a 52 week high of $50.77. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.07. The firm’s 50-day simple moving average is $25.44 and its 200 day simple moving average is $24.75. The firm has a market capitalization of $2.49 billion and a PE ratio of -12.64.

Privia Health Group (NASDAQ:PRVAGet Rating) last released its quarterly earnings data on Tuesday, March 22nd. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.17. Privia Health Group had a negative net margin of 19.48% and a negative return on equity of 54.01%. The business had revenue of $275.33 million for the quarter, compared to analyst estimates of $226.06 million. On average, research analysts expect that Privia Health Group will post 0.11 EPS for the current fiscal year.

In related news, COO Parth Mehrotra sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 20th. The shares were sold at an average price of $27.93, for a total transaction of $558,600.00. Following the completion of the sale, the chief operating officer now owns 97,391 shares of the company’s stock, valued at approximately $2,720,130.63. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas Bartrum sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $27.93, for a total transaction of $279,300.00. Following the sale, the executive vice president now directly owns 27,391 shares of the company’s stock, valued at approximately $765,030.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,288 shares of company stock valued at $2,482,053.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. boosted its stake in shares of Privia Health Group by 2.3% during the 4th quarter. Sei Investments Co. now owns 28,416 shares of the company’s stock valued at $733,000 after buying an additional 642 shares during the last quarter. Rockefeller Capital Management L.P. bought a new stake in Privia Health Group during the fourth quarter valued at $25,000. First Horizon Advisors Inc. acquired a new stake in shares of Privia Health Group during the fourth quarter worth $26,000. FourThought Financial LLC raised its holdings in shares of Privia Health Group by 77.2% during the first quarter. FourThought Financial LLC now owns 2,417 shares of the company’s stock worth $65,000 after purchasing an additional 1,053 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Privia Health Group by 5.2% in the 4th quarter. Invesco Ltd. now owns 24,102 shares of the company’s stock worth $624,000 after buying an additional 1,200 shares during the last quarter. Hedge funds and other institutional investors own 63.77% of the company’s stock.

Privia Health Group Company Profile (Get Rating)

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.

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