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

Privia Health Group, Inc. (NASDAQ:PRVA – Get Rating) has been given an average recommendation of “Buy” by the fourteen analysts that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $40.00.

A number of analysts recently commented on the company. Canaccord Genuity Group dropped their price target on Privia Health Group from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, March 24th. Cowen upgraded Privia Health Group from a “market perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research note on Tuesday, February 22nd. BTIG Research assumed coverage on shares of Privia Health Group in a research report on Thursday, April 28th. They set a “buy” rating and a $35.00 price target for the company. Zacks Investment Research upgraded shares of Privia Health Group from a “sell” rating to a “hold” rating in a research note on Friday, March 25th. Finally, Bank of America initiated coverage on shares of Privia Health Group in a research report on Tuesday, May 3rd. They set a “buy” rating and a $27.00 target price for the company.

In other news, EVP Thomas Bartrum sold 10,000 shares of the stock in a transaction on Monday, March 28th. The shares were sold at an average price of $25.09, for a total value of $250,900.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Parth Mehrotra sold 5,288 shares of Privia Health Group stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $25.01, for a total transaction of $132,252.88. The disclosure for this sale can be found here. Insiders sold 95,288 shares of company stock worth $2,482,053 in the last quarter.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRVA. Los Angeles Capital Management LLC purchased a new position in shares of Privia Health Group in the 1st quarter worth about $733,000. New York State Common Retirement Fund grew its position in Privia Health Group by 129.8% during the first quarter. New York State Common Retirement Fund now owns 30,743 shares of the company’s stock valued at $822,000 after acquiring an additional 17,367 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Privia Health Group by 40.6% during the first quarter. Envestnet Asset Management Inc. now owns 42,052 shares of the company’s stock valued at $1,124,000 after acquiring an additional 12,141 shares during the last quarter. Arizona State Retirement System bought a new stake in shares of Privia Health Group in the 1st quarter worth approximately $500,000. Finally, State of New Jersey Common Pension Fund D bought a new stake in shares of Privia Health Group in the 1st quarter worth approximately $2,693,000. Institutional investors and hedge funds own 63.77% of the company’s stock.

NASDAQ PRVA opened at $21.84 on Monday. The company has a fifty day moving average price of $25.32 and a 200-day moving average price of $24.75. The firm has a market cap of $2.36 billion and a price-to-earnings ratio of -12.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.35 and a quick ratio of 2.35. Privia Health Group has a 1 year low of $18.93 and a 1 year high of $50.77.

Privia Health Group (NASDAQ:PRVA – Get Rating) last issued its quarterly earnings data on Tuesday, March 22nd. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $226.06 million. On average, research analysts anticipate that Privia Health Group will post 0.07 EPS for the current fiscal year.

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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