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

Privia Health Group, Inc. (NASDAQ:PRVA) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $28.58.

Several research firms have issued reports on PRVA. UBS Group dropped their price objective on Privia Health Group from $31.00 to $29.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Truist Financial cut their target price on Privia Health Group from $32.00 to $28.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Jefferies Financial Group assumed coverage on Privia Health Group in a research note on Monday, February 26th. They issued a “buy” rating and a $25.00 price objective on the stock. Evercore ISI cut their target price on Privia Health Group from $26.00 to $25.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 28th. Finally, Barclays started coverage on Privia Health Group in a report on Wednesday, March 6th. They set an “equal weight” rating and a $22.00 price target on the stock.

Privia Health Group Stock Performance

Shares of NASDAQ:PRVA opened at $18.57 on Monday. The company has a market cap of $2.20 billion, a P/E ratio of 97.74, a PEG ratio of 2.54 and a beta of 0.81. Privia Health Group has a one year low of $17.54 and a one year high of $30.15. The business’s 50-day simple moving average is $20.50 and its 200 day simple moving average is $21.67.

Privia Health Group (NASDAQ:PRVA) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Privia Health Group had a return on equity of 3.97% and a net margin of 1.39%. The business had revenue of $440.80 million for the quarter, compared to analysts’ expectations of $425.81 million. During the same quarter in the prior year, the firm earned $0.14 earnings per share. Privia Health Group’s revenue for the quarter was up 21.0% compared to the same quarter last year. Analysts predict that Privia Health Group will post 0.26 earnings per share for the current year.

Insider Transactions at Privia Health Group

In related news, Director William M. Sullivan sold 9,951 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $23.03, for a total transaction of $229,171.53. Following the completion of the transaction, the director now owns 5,464,533 shares of the company’s stock, valued at approximately $125,848,194.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director William M. Sullivan sold 9,951 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $23.03, for a total transaction of $229,171.53. Following the completion of the transaction, the director now owns 5,464,533 shares of the company’s stock, valued at approximately $125,848,194.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David Mountcastle sold 3,933 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $17.77, for a total value of $69,889.41. Following the completion of the transaction, the chief financial officer now directly owns 262,279 shares of the company’s stock, valued at approximately $4,660,697.83. The disclosure for this sale can be found here. 57.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Privia Health Group

Several large investors have recently modified their holdings of the stock. ProShare Advisors LLC bought a new stake in Privia Health Group during the 1st quarter worth approximately $210,000. JPMorgan Chase & Co. grew its stake in shares of Privia Health Group by 60.3% during the first quarter. JPMorgan Chase & Co. now owns 33,839 shares of the company’s stock worth $905,000 after purchasing an additional 12,732 shares during the period. US Bancorp DE grew its stake in shares of Privia Health Group by 8.8% during the first quarter. US Bancorp DE now owns 13,923 shares of the company’s stock worth $372,000 after purchasing an additional 1,131 shares during the period. MetLife Investment Management LLC lifted its holdings in Privia Health Group by 200.9% during the first quarter. MetLife Investment Management LLC now owns 23,742 shares of the company’s stock worth $635,000 after acquiring an additional 15,852 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Privia Health Group by 124.7% during the first quarter. Rhumbline Advisers now owns 36,873 shares of the company’s stock worth $986,000 after acquiring an additional 20,464 shares in the last quarter. 94.48% of the stock is currently owned by institutional investors.

Privia Health Group Company Profile

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.