Privia Health Group (NASDAQ:PRVA) Now Covered by Royal Bank Of Canada

Royal Bank Of Canada started coverage on shares of Privia Health Group (NASDAQ:PRVA) in a research note released on Friday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $31.00 target price on the stock.

Several other analysts also recently issued reports on PRVA. Barclays increased their price objective on shares of Privia Health Group from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Wolfe Research set a $31.00 price target on shares of Privia Health Group in a report on Tuesday. Evercore ISI boosted their price objective on shares of Privia Health Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Truist Financial reissued a “buy” rating and issued a $31.00 price objective (up from $30.00) on shares of Privia Health Group in a research report on Monday, November 10th. Finally, Stephens reaffirmed an “overweight” rating and set a $32.00 target price on shares of Privia Health Group in a research report on Thursday, December 4th. Thirteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Privia Health Group presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Privia Health Group Price Performance

NASDAQ:PRVA opened at $23.04 on Friday. The business’s 50-day moving average is $23.95 and its two-hundred day moving average is $22.96. The firm has a market capitalization of $2.83 billion, a PE ratio of 177.24, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. Privia Health Group has a 12 month low of $18.77 and a 12 month high of $26.51.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results on Tuesday, June 7th. The company reported $0.10 earnings per share for the quarter. The company had revenue of $213.61 million during the quarter. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%. Equities analysts anticipate that Privia Health Group will post 0.14 EPS for the current year.

Insider Activity

In related news, Director Matthew Shawn Morris sold 13,647 shares of Privia Health Group stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $25.01, for a total value of $341,311.47. Following the completion of the transaction, the director directly owned 68,188 shares in the company, valued at approximately $1,705,381.88. This trade represents a 16.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Mountcastle sold 23,887 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $25.03, for a total value of $597,891.61. Following the sale, the chief financial officer owned 172,909 shares in the company, valued at $4,327,912.27. The trade was a 12.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 10.70% of the company’s stock.

Institutional Investors Weigh In On Privia Health Group

Several institutional investors and hedge funds have recently made changes to their positions in PRVA. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Privia Health Group by 180.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,633,040 shares of the company’s stock worth $59,112,000 after purchasing an additional 1,693,870 shares during the period. Van Berkom & Associates Inc. lifted its position in shares of Privia Health Group by 30.1% in the 3rd quarter. Van Berkom & Associates Inc. now owns 3,774,565 shares of the company’s stock worth $93,987,000 after buying an additional 873,344 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Privia Health Group by 5.3% in the 3rd quarter. Vanguard Group Inc. now owns 12,098,933 shares of the company’s stock valued at $301,263,000 after buying an additional 607,447 shares during the period. Algert Global LLC grew its position in shares of Privia Health Group by 277.4% during the 3rd quarter. Algert Global LLC now owns 484,304 shares of the company’s stock valued at $12,059,000 after buying an additional 355,966 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC acquired a new stake in Privia Health Group during the third quarter worth about $8,750,000. 94.48% of the stock is owned by institutional investors and hedge funds.

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.