Privia Health Group (NASDAQ:PRVA) Announces Earnings Results

Privia Health Group (NASDAQ:PRVA) released its earnings results on Thursday. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.06 by $0.23, Briefing.com reports. Privia Health Group had a net margin of 0.89% and a return on equity of 2.52%. The company had revenue of $580.42 million during the quarter, compared to analysts’ expectations of $494.98 million. During the same quarter last year, the business earned $0.20 EPS. The business’s revenue was up 32.5% on a year-over-year basis. Privia Health Group updated its FY 2025 guidance to EPS.

Privia Health Group Price Performance

NASDAQ:PRVA traded down $0.55 during trading hours on Friday, reaching $23.43. 1,382,680 shares of the company traded hands, compared to its average volume of 791,019. The firm’s 50-day moving average is $24.15 and its 200-day moving average is $22.77. The stock has a market cap of $2.88 billion, a P/E ratio of 180.24, a P/E/G ratio of 3.27 and a beta of 0.83. Privia Health Group has a 1-year low of $18.77 and a 1-year high of $26.51.

Wall Street Analysts Forecast Growth

PRVA has been the subject of a number of recent analyst reports. Barclays raised their price objective on shares of Privia Health Group from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Thursday, October 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Privia Health Group in a report on Wednesday, October 8th. JMP Securities upped their price objective on Privia Health Group from $29.00 to $30.00 and gave the stock a “market outperform” rating in a report on Friday, August 29th. Piper Sandler reduced their target price on Privia Health Group from $36.00 to $35.00 and set an “overweight” rating for the company in a report on Monday, August 11th. Finally, Citizens Jmp boosted their target price on shares of Privia Health Group from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research report on Friday. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.25.

Institutional Trading of Privia Health Group

A number of large investors have recently made changes to their positions in PRVA. Balyasny Asset Management L.P. acquired a new position in Privia Health Group in the 2nd quarter valued at about $1,819,000. Thrivent Financial for Lutherans grew its holdings in shares of Privia Health Group by 1.7% during the second quarter. Thrivent Financial for Lutherans now owns 77,099 shares of the company’s stock worth $1,773,000 after buying an additional 1,296 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Privia Health Group by 2.9% in the second quarter. The Manufacturers Life Insurance Company now owns 59,101 shares of the company’s stock valued at $1,359,000 after buying an additional 1,662 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Privia Health Group by 55.1% in the first quarter. Intech Investment Management LLC now owns 56,553 shares of the company’s stock valued at $1,270,000 after buying an additional 20,082 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Privia Health Group by 24.7% during the first quarter. AQR Capital Management LLC now owns 40,781 shares of the company’s stock valued at $916,000 after buying an additional 8,068 shares during the period. Institutional investors and hedge funds own 94.48% of the company’s stock.

About Privia Health Group

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.