Privia Health Group, Inc. (NASDAQ:PRVA) Stock Has Consensus Target Price of $31.00 According to Brokerages

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have received a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $31.00.

A number of research analysts have recently issued reports on the stock. Citigroup reiterated a “buy” rating on shares of Privia Health Group in a research note on Thursday, July 23rd. Canaccord Genuity Group set a $32.00 price objective on shares of Privia Health Group in a research report on Friday, August 7th. Weiss Ratings raised Privia Health Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Finally, Zacks Research upgraded Privia Health Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th.

Insider Buying and Selling

In related news, Director Matthew Morris sold 53,722 shares of Privia Health Group stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $27.24, for a total value of $1,463,387.28. Following the sale, the director directly owned 68,188 shares in the company, valued at $1,857,441.12. The trade was a 44.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO David Mountcastle sold 21,275 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $27.67, for a total value of $588,679.25. Following the transaction, the chief financial officer directly owned 164,853 shares in the company, valued at $4,561,482.51. This represents a 11.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 222,580 shares of company stock worth $5,963,435. Company insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in shares of Privia Health Group in the 2nd quarter valued at about $550,684,000. Rubicon Founders LLC acquired a new stake in shares of Privia Health Group in the second quarter valued at about $153,635,863. Bank of New York Mellon Corp purchased a new stake in Privia Health Group during the second quarter worth about $74,425,000. Wellington Management Group LLP grew its position in Privia Health Group by 850.6% during the second quarter. Wellington Management Group LLP now owns 2,130,289 shares of the company’s stock worth $54,812,000 after buying an additional 1,906,187 shares during the period. Finally, Bank of America Corp DE acquired a new position in Privia Health Group during the second quarter worth about $36,848,000. 94.48% of the stock is owned by institutional investors and hedge funds.

Privia Health Group Price Performance

Privia Health Group stock opened at $19.39 on Friday. The stock has a market capitalization of $2.48 billion, a PE ratio of 92.34 and a beta of 0.87. The business has a 50 day simple moving average of $21.97 and a 200-day simple moving average of $22.87. Privia Health Group has a 12 month low of $18.92 and a 12 month high of $28.82.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. Privia Health Group had a net margin of 1.19% and a return on equity of 3.52%. The company had revenue of $632.63 million during the quarter, compared to the consensus estimate of $597.33 million. During the same quarter in the prior year, the firm earned $0.24 EPS. Privia Health Group’s quarterly revenue was up 21.4% on a year-over-year basis. As a group, equities research analysts anticipate that Privia Health Group will post 0.27 EPS for the current year.

About Privia Health Group

Privia Health Group, Inc is a national physician enablement company that supports independent medical groups in delivering value-based care. Through its technology-enabled platform, the company provides administrative, clinical, and operational services designed to help physicians manage patient populations, improve care coordination, and participate in contracts with health plans and employers.

Privia’s services include practice management, electronic health record and data analytics tools, revenue-cycle support, marketing, recruiting, and other nonclinical business functions.