Privia Health Group, Inc. (NASDAQ:PRVA) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $31.00.

A number of research firms have recently weighed in on PRVA. JPMorgan Chase & Co. increased their price target on Privia Health Group from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. Canaccord Genuity Group upped their price objective on Privia Health Group from $34.00 to $35.00 and gave the company a “buy” rating in a report on Friday, February 27th. Piper Sandler restated an “overweight” rating and set a $36.00 target price on shares of Privia Health Group in a report on Thursday, February 26th. Wolfe Research set a $31.00 target price on Privia Health Group in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Privia Health Group in a research note on Monday, December 29th.

Insider Buying and Selling

In other news, CFO David Mountcastle sold 23,887 shares of Privia Health Group stock in a transaction on Friday, December 12th. The shares were sold at an average price of $25.03, for a total transaction of $597,891.61. Following the transaction, the chief financial officer directly owned 172,909 shares of the company’s stock, valued at $4,327,912.27. This trade represents a 12.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Matthew Shawn Morris sold 16,550 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $25.00, for a total transaction of $413,750.00. Following the completion of the transaction, the director directly owned 68,188 shares of the company’s stock, valued at $1,704,700. This trade represents a 19.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 74,930 shares of company stock valued at $1,874,410. Corporate insiders own 10.70% of the company’s stock.

Institutional Trading of Privia Health Group

Hedge funds have recently added to or reduced their stakes in the business. Bayban bought a new position in Privia Health Group during the fourth quarter worth about $26,000. Hantz Financial Services Inc. increased its holdings in shares of Privia Health Group by 456.2% in the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock worth $27,000 after acquiring an additional 926 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Privia Health Group by 579.8% during the fourth 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. Canada Pension Plan Investment Board raised its position in shares of Privia Health Group by 48.0% during the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock worth $85,000 after purchasing an additional 1,200 shares during the period. Finally, Kestra Advisory Services LLC bought a new position in shares of Privia Health Group during the 4th quarter valued at about $93,000. Institutional investors and hedge funds own 94.48% of the company’s stock.

Privia Health Group Stock Performance

NASDAQ PRVA opened at $23.27 on Monday. The stock has a fifty day moving average of $23.04 and a 200-day moving average of $23.59. The stock has a market capitalization of $2.88 billion, a P/E ratio of 136.88, a price-to-earnings-growth ratio of 1.49 and a beta of 0.82. Privia Health Group has a 52 week low of $18.77 and a 52 week high of $26.51.

Privia Health Group (NASDAQ:PRVA) last released its earnings results on Thursday, February 26th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.21. The company had revenue of $541.17 million for the quarter, compared to the consensus estimate of $516.61 million. Privia Health Group had a net margin of 1.08% and a return on equity of 3.06%. The company’s revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.21 EPS. Equities research analysts forecast that Privia Health Group will post 0.14 earnings per share for the current fiscal year.

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.