Privia Health Group, Inc. (NASDAQ:PRVA) Receives $31.15 Consensus Price Target from Brokerages

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have received an average recommendation of “Moderate Buy” from the fourteen ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $31.1538.

Several equities research analysts recently weighed in on the stock. Evercore set a $26.00 target price on shares of Privia Health Group in a research note on Wednesday, April 8th. Piper Sandler reiterated an “overweight” rating and issued a $36.00 target price on shares of Privia Health Group in a research note on Thursday, February 26th. Weiss Ratings lowered shares of Privia Health Group from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Truist Financial lifted their target price on shares of Privia Health Group from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Finally, Canaccord Genuity Group decreased their target price on shares of Privia Health Group from $35.00 to $34.00 and set a “buy” rating on the stock in a research report on Friday, May 8th.

Privia Health Group Stock Performance

NASDAQ PRVA opened at $23.74 on Wednesday. The firm has a 50-day simple moving average of $23.07 and a 200 day simple moving average of $22.92. Privia Health Group has a twelve month low of $18.77 and a twelve month high of $26.51. The stock has a market cap of $2.99 billion, a PE ratio of 148.38, a PEG ratio of 1.70 and a beta of 0.90.

Privia Health Group (NASDAQ:PRVA) last released its earnings results on Thursday, May 7th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.11. Privia Health Group had a net margin of 0.97% and a return on equity of 2.81%. The business had revenue of $603.85 million during the quarter, compared to analysts’ expectations of $560.99 million. During the same quarter last year, the company earned $0.22 earnings per share. The firm’s revenue was up 25.8% on a year-over-year basis. Research analysts forecast that Privia Health Group will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Matthew Shawn Morris sold 1,017 shares of Privia Health Group stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $24.96, for a total transaction of $25,384.32. Following the sale, the director directly owned 68,188 shares in the company, valued at approximately $1,701,972.48. The trade was a 1.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 3,385 shares of Privia Health Group stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $22.60, for a total transaction of $76,501.00. Following the sale, the chief financial officer owned 211,462 shares in the company, valued at approximately $4,779,041.20. This trade represents a 1.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 156,535 shares of company stock worth $3,586,903. Corporate insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bayban acquired a new position in Privia Health Group in the fourth quarter valued at about $26,000. Hantz Financial Services Inc. boosted its position in Privia Health Group by 456.2% in the fourth quarter. Hantz Financial Services Inc. now owns 1,129 shares of the company’s stock valued at $27,000 after buying an additional 926 shares in the last quarter. Global Retirement Partners LLC boosted its position in Privia Health Group by 579.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,584 shares of the company’s stock valued at $38,000 after buying an additional 1,351 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Privia Health Group by 48.0% in the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after buying an additional 1,200 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in Privia Health Group in the fourth quarter valued at about $93,000. 94.48% of the stock is currently owned by institutional investors and hedge funds.

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.