Privia Health Group, Inc. (NASDAQ:PRVA) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have earned an average rating of “Moderate Buy” from the fourteen analysts that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $24.92.

PRVA has been the subject of a number of research analyst reports. Truist Financial cut their target price on shares of Privia Health Group from $28.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Canaccord Genuity Group reduced their price objective on Privia Health Group from $37.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. TD Cowen decreased their target price on Privia Health Group from $30.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. UBS Group cut their price target on Privia Health Group from $31.00 to $29.00 and set a “buy” rating for the company in a report on Friday, March 1st. Finally, Stifel Nicolaus reduced their price target on shares of Privia Health Group from $28.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st.

Insider Transactions at Privia Health Group

In related news, CFO David Mountcastle sold 2,320 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $18.42, for a total value of $42,734.40. Following the sale, the chief financial officer now directly owns 259,959 shares in the company, valued at approximately $4,788,444.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO David Mountcastle sold 2,320 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $18.42, for a total value of $42,734.40. Following the completion of the sale, the chief financial officer now owns 259,959 shares in the company, valued at approximately $4,788,444.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Adam Boehler acquired 277,565 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were acquired at an average cost of $16.17 per share, for a total transaction of $4,488,226.05. Following the purchase, the director now directly owns 5,488,701 shares in the company, valued at approximately $88,752,295.17. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 292,871 shares of company stock worth $4,739,475 and sold 49,390 shares worth $897,700. Corporate insiders own 14.20% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Privia Health Group by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 11,400,035 shares of the company’s stock worth $223,327,000 after purchasing an additional 121,701 shares in the last quarter. Riverbridge Partners LLC lifted its stake in Privia Health Group by 17.5% in the 1st quarter. Riverbridge Partners LLC now owns 5,399,662 shares of the company’s stock valued at $105,779,000 after acquiring an additional 804,304 shares in the last quarter. Wellington Management Group LLP boosted its position in Privia Health Group by 1.0% during the 3rd quarter. Wellington Management Group LLP now owns 4,656,685 shares of the company’s stock worth $107,104,000 after acquiring an additional 45,639 shares during the last quarter. Invesco Ltd. grew its stake in shares of Privia Health Group by 2.8% during the 3rd quarter. Invesco Ltd. now owns 1,725,969 shares of the company’s stock worth $39,697,000 after acquiring an additional 47,643 shares in the last quarter. Finally, Avidity Partners Management LP raised its holdings in shares of Privia Health Group by 43.1% in the third quarter. Avidity Partners Management LP now owns 1,545,100 shares of the company’s stock valued at $35,537,000 after purchasing an additional 465,294 shares during the last quarter. 94.48% of the stock is currently owned by institutional investors and hedge funds.

Privia Health Group Price Performance

Privia Health Group stock opened at $17.37 on Tuesday. The firm has a market capitalization of $2.07 billion, a P/E ratio of 115.80, a P/E/G ratio of 2.54 and a beta of 0.81. The stock has a fifty day moving average price of $18.08 and a two-hundred day moving average price of $20.44. Privia Health Group has a 52-week low of $15.92 and a 52-week high of $29.42.

Privia Health Group (NASDAQ:PRVA) last announced its earnings results on Thursday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). Privia Health Group had a return on equity of 3.13% and a net margin of 1.11%. The firm had revenue of $415.24 million for the quarter, compared to analyst estimates of $435.07 million. On average, equities research analysts predict that Privia Health Group will post 0.21 EPS for the current fiscal year.

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.