Brokerages Set Privia Health Group, Inc. (NASDAQ:PRVA) PT at $30.50

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) have been assigned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $30.50.

Several research firms have commented on PRVA. Truist Financial reiterated a “buy” rating and issued a $31.00 price objective (up from $30.00) on shares of Privia Health Group in a report on Monday, November 10th. Royal Bank Of Canada initiated coverage on shares of Privia Health Group in a report on Friday, January 9th. They set an “outperform” rating and a $31.00 target price for the company. Barclays increased their price target on shares of Privia Health Group from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Canaccord Genuity Group boosted their price objective on Privia Health Group from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, JPMorgan Chase & Co. upped their target price on Privia Health Group from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th.

Privia Health Group Stock Up 1.5%

Shares of NASDAQ PRVA opened at $23.96 on Friday. The business’s 50 day moving average price is $23.81 and its two-hundred day moving average price is $23.04. The company has a market cap of $2.95 billion, a PE ratio of 184.32, a price-to-earnings-growth ratio of 1.66 and a beta of 0.83. Privia Health Group has a twelve month low of $18.77 and a twelve month high of $26.51.

Privia Health Group (NASDAQ:PRVA) last issued its earnings results on Thursday, November 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.06 by $0.23. The company had revenue of $580.42 million during the quarter, compared to the consensus estimate of $494.98 million. Privia Health Group had a return on equity of 2.52% and a net margin of 0.89%.The firm’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.20 EPS. As a group, research analysts anticipate that Privia Health Group will post 0.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO David Mountcastle sold 23,887 shares of Privia Health Group stock in a transaction on Friday, December 12th. The stock was sold at an average price of $25.03, for a total transaction of $597,891.61. Following the completion of the sale, the chief financial officer owned 172,909 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, Director Matthew Shawn Morris sold 13,647 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $25.01, for a total transaction of $341,311.47. Following the completion of the sale, the director directly owned 68,188 shares of the company’s stock, valued at approximately $1,705,381.88. The trade was a 16.68% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 10.70% of the company’s stock.

Institutional Trading of Privia Health Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Advantage Alpha Capital Partners LP bought a new stake in Privia Health Group in the 2nd quarter valued at about $3,941,000. Hsbc Holdings PLC grew its stake in Privia Health Group by 69.2% in the second quarter. Hsbc Holdings PLC now owns 113,718 shares of the company’s stock valued at $2,549,000 after acquiring an additional 46,526 shares during the period. Edgestream Partners L.P. bought a new stake in shares of Privia Health Group during the second quarter valued at approximately $2,209,000. Strs Ohio acquired a new position in shares of Privia Health Group during the first quarter worth approximately $849,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Privia Health Group by 9.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 62,406 shares of the company’s stock worth $1,435,000 after purchasing an additional 5,223 shares in 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.