Privia Health Group (NASDAQ:PRVA) Stock Rating Upgraded by Royal Bank Of Canada

Privia Health Group (NASDAQ:PRVA) was upgraded by research analysts at Royal Bank Of Canada to a “moderate buy” rating in a research report issued on Thursday,Zacks.com reports.

Several other analysts have also recently commented on the stock. Evercore ISI raised their price target on shares of Privia Health Group from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Citizens Jmp increased their target price on shares of Privia Health Group from $30.00 to $31.00 and gave the stock a “market outperform” rating in a research report on Friday, November 7th. Citigroup reissued a “market outperform” rating on shares of Privia Health Group in a research note on Tuesday. Stephens reiterated an “overweight” rating and set a $32.00 price objective on shares of Privia Health Group in a report on Thursday, December 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Privia Health Group in a research report on Monday, December 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Privia Health Group Trading Down 0.5%

Shares of PRVA stock opened at $23.04 on Thursday. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 177.24, a P/E/G ratio of 1.63 and a beta of 0.83. Privia Health Group has a 1-year low of $18.77 and a 1-year high of $26.51. The stock’s fifty day simple moving average is $23.95 and its 200-day simple moving average is $22.96.

Privia Health Group (NASDAQ:PRVA) last announced its quarterly earnings data on Tuesday, June 7th. The company reported $0.10 earnings per share (EPS) for the quarter. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%.The firm had revenue of $213.61 million during the quarter. On average, sell-side analysts predict that Privia Health Group will post 0.14 EPS for the current year.

Insider Buying and Selling at Privia Health Group

In other Privia Health Group news, CFO David Mountcastle sold 23,887 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $25.03, for a total transaction of $597,891.61. Following the transaction, the chief financial officer directly owned 172,909 shares in the company, valued at $4,327,912.27. This trade represents a 12.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Shawn Morris sold 13,647 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $25.01, for a total value of $341,311.47. Following the completion of the sale, the director directly owned 68,188 shares of the company’s stock, valued at $1,705,381.88. This represents a 16.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wealth Alliance LLC lifted its holdings in Privia Health Group by 4.4% in the 3rd quarter. Wealth Alliance LLC now owns 11,979 shares of the company’s stock worth $298,000 after purchasing an additional 508 shares during the last quarter. Arizona State Retirement System grew its holdings in Privia Health Group by 1.9% during the third quarter. Arizona State Retirement System now owns 28,835 shares of the company’s stock valued at $718,000 after purchasing an additional 524 shares during the last quarter. Bank of Montreal Can raised its position in shares of Privia Health Group by 1.9% in the second quarter. Bank of Montreal Can now owns 28,694 shares of the company’s stock valued at $660,000 after purchasing an additional 543 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of Privia Health Group by 1.1% in the third quarter. Illinois Municipal Retirement Fund now owns 55,501 shares of the company’s stock worth $1,382,000 after buying an additional 585 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Privia Health Group by 9.6% in the third quarter. PNC Financial Services Group Inc. now owns 7,731 shares of the company’s stock worth $193,000 after buying an additional 675 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

About Privia Health Group

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.