Privia Health Group (NASDAQ:PRVA) Upgraded at Royal Bank Of Canada

Royal Bank Of Canada upgraded shares of Privia Health Group (NASDAQ:PRVA) to a moderate buy rating in a research report report published on Thursday morning,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group lifted their target price on shares of Privia Health Group from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Citigroup reaffirmed a “market outperform” rating on shares of Privia Health Group in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Privia Health Group from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Wolfe Research set a $31.00 target price on Privia Health Group in a report on Tuesday. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Privia Health Group in a report on Monday, December 29th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Privia Health Group Stock Performance

Shares of NASDAQ PRVA opened at $23.04 on Thursday. The business’s 50-day simple moving average is $23.95 and its 200-day simple moving average is $22.97. Privia Health Group has a 52 week low of $18.77 and a 52 week high of $26.51. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 177.24, a P/E/G ratio of 1.62 and a beta of 0.83.

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

Insiders Place Their Bets

In other news, CFO David Mountcastle sold 23,887 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer owned 172,909 shares in the company, valued at approximately $4,327,912.27. This represents a 12.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Matthew Shawn Morris sold 13,647 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $25.01, for a total transaction of $341,311.47. Following the transaction, the director directly owned 68,188 shares of the company’s stock, valued at $1,705,381.88. The trade was a 16.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 10.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Wealth Alliance LLC boosted its holdings in Privia Health Group by 4.4% during the third quarter. Wealth Alliance LLC now owns 11,979 shares of the company’s stock valued at $298,000 after purchasing an additional 508 shares in the last quarter. Arizona State Retirement System grew its position in Privia Health Group by 1.9% in the third quarter. Arizona State Retirement System now owns 28,835 shares of the company’s stock valued at $718,000 after acquiring an additional 524 shares during the period. Bank of Montreal Can raised its stake in Privia Health Group by 1.9% during the second quarter. Bank of Montreal Can now owns 28,694 shares of the company’s stock worth $660,000 after acquiring an additional 543 shares in the last quarter. Illinois Municipal Retirement Fund raised its stake in Privia Health Group by 1.1% during the third quarter. Illinois Municipal Retirement Fund now owns 55,501 shares of the company’s stock worth $1,382,000 after acquiring an additional 585 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Privia Health Group by 9.6% during the third quarter. PNC Financial Services Group Inc. now owns 7,731 shares of the company’s stock valued at $193,000 after acquiring an additional 675 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.

Privia Health Group Company Profile

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.