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

by · The Markets Daily

Privia Health Group, Inc. (NASDAQ:PRVA – Get Free Report) has received an average recommendation of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $31.00.

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

Read Our Latest Stock Report on PRVA

Privia Health Group Trading Up 1.5%

Shares of PRVA stock opened at $19.39 on Friday. The company has a market cap of $2.48 billion, a P/E ratio of 92.34 and a beta of 0.87. The firm has a fifty day moving average price of $21.97 and a 200 day moving average price 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 – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.12. The company had revenue of $632.63 million for the quarter, compared to analysts’ expectations of $597.33 million. Privia Health Group had a return on equity of 3.52% and a net margin of 1.19%.Privia Health Group’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the firm earned $0.24 earnings per share. On average, equities analysts forecast that Privia Health Group will post 0.27 EPS for the current year.

Insiders Place Their Bets

In related news, CFO David Mountcastle sold 24,734 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $27.50, for a total value of $680,185.00. Following the transaction, the chief financial officer directly owned 186,728 shares of the company’s stock, valued at $5,135,020. This trade represents a 11.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Morris sold 63,212 shares of Privia Health Group stock in a transaction on Monday, June 29th. The stock was sold at an average price of $25.33, for a total transaction of $1,601,159.96. Following the sale, the director owned 76,651 shares in the company, valued at $1,941,569.83. This represents a 45.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 222,580 shares of company stock worth $5,963,435 over the last ninety days. Insiders own 5.70% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new position in Privia Health Group in the second quarter valued at $550,684,000. Rubicon Founders LLC acquired a new stake in shares of Privia Health Group during the second quarter worth about $153,635,863. Bank of New York Mellon Corp purchased a new position in shares of Privia Health Group during the second quarter worth about $74,425,000. Wellington Management Group LLP grew its holdings in shares of 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 last quarter. Finally, Bank of America Corp DE acquired a new position in Privia Health Group in the 2nd quarter valued at about $36,848,000. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Privia Health Group Company Profile

(Get Free Report)

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.

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